This is a very important point and one cynically used as propaganda by the media. "People want too much too soon" The fact is with industry having been moved off shore in search of cheap labor domestic spending is now responsible for 2/3 of domestic growth in the US. The governments and banks encourage this because it is the main source of income for business. However as the US deficit grows by the day because the downturn in commodities it has to sell, it is reliant on direct capital investment to fuel the economy. "loans".
So money is thrown at consumers so they will spend, with no regard for the consequences it would bring. Injecting funds into a country is what causes bubbles, as they are funds that have not been generated by prodction and sale of goods and services. This pattern is repeated in one industrialized nation after the other. They are all in record debt. Another interesting point on debt. Take Warren Buffet for example. He buys up companies breaks them up, asset strips and then resells at enormous profits, without actually producing a thing. Let' say he makes 500 million on a deal. You cannot make 500 million by in affect doing nothing, producing nothing. That value must be created and it is, it is put on the back of the workers, the producers of all value. On Oct 1, 1:53 am, Hollywood <[EMAIL PROTECTED]> wrote: > Frank, > > It goes further than that even. We became SO convinced of our "needs" > we continued to buy them on credit long after we could no longer > really afford them by any sane definition of the word. > Consumerism gone insane. > > On Sep 29, 11:17 pm, Frank <[EMAIL PROTECTED]> wrote: > > > It works until the contradictions of capitalism erode the living > > standards of the workers to the point that they can no longer purchase > > the wants they have been convinced they that need. This is precisely > > the point at which we have arrived. > > > On Sep 30, 2:09 pm, Hollywood <[EMAIL PROTECTED]> wrote: > > > > Princip, > > > > Yep. the whole purpose, the point, of marketing is to turn a "want" > > > into a "need" in the eyes of the consumer. And it works very well. > > > > On Sep 29, 4:42 pm, Princip <[EMAIL PROTECTED]> wrote: > > > > > Hollywood. Your missing the point. > > > > The whole system is based on false foundations. It is simply > > > > exploiting millions of hard working people to sustain the lifestyles > > > > of a few avaricious and expedient few. Distracting them with trash tv > > > > and advertising to make them think they 'need' things. > > > > > On Sep 29, 10:30 pm, Hollywood <[EMAIL PROTECTED]> wrote: > > > > > > Gaar, > > > > > > Good, let the unsound banks fail. We've survived recessions and > > > > > depressions before. > > > > > > On Sep 29, 1:55 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > > > [EMAIL PROTECTED] > > > > > > > Hmmmm... > > > > > > > No Bail Out, and the Markets Survive. > > > > > > > Imagine that. > > > > > > > On Sep 29, 7:03 am, Frank <[EMAIL PROTECTED]> wrote: > > > > > > > > Mankind as once again arrived at the point in history of the road > > > > > > > to > > > > > > > Socialism or Barbarism. If the Socialist revolution is not > > > > > > > realized > > > > > > > this time, they world may never again be presented with any > > > > > > > choice at > > > > > > > all. > > > > > > > > On Sep 29, 11:41 pm, Princip <[EMAIL PROTECTED]> wrote: > > > > > > > > > This whole crisis is evidence of the asymmetrical priorities of > > > > > > > > the > > > > > > > > ruling class. Scrambling to save themselves and the system which > > > > > > > > sustains their positions. What we are witnessing is the end of > > > > > > > > the > > > > > > > > beginning for 'late capitalism' > > > > > > > > > On Sep 29, 2:29 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > > > > > Forget about bridges to nowhere, Obamarama and presidential > > > > > > > > > debates. > > > > > > > > > They of little consequence as a financial tsunami is wiping > > > > > > > > > out the > > > > > > > > > world financial markets. > > > > > > > > > (Hate to say I told you so) > > > > > > > > > > •Citigroup to Acquire Wachovia Bank Business, Absorb Losses > > > > > > > > > With FDIC > > > > > > > > > Help > > > > > > > > > > •Stocks Sink Worldwide, Government Bonds Rise on Bailouts; > > > > > > > > > Euro, Pound > > > > > > > > > Drop > > > > > > > > > > •Borrowing Costs Soar as Bailouts Spur Loan Concern; Euribor > > > > > > > > > Reaches > > > > > > > > > Record > > > > > > > > > > •Fortis, Bradford & Bingley, Hypo Real Estate Rescued as Bank > > > > > > > > > Crisis > > > > > > > > > Widens > > > > > > > > > > •Paulson Rescue Plan Fails to Win Immediate Consensus in > > > > > > > > > Congress, > > > > > > > > > Markets > > > > > > > > > > •Goldman, Merrill Get Billions After Federal Reserve's AIG > > > > > > > > > Bailout > > > > > > > > > Loans > > > > > > > > > > •Oil, Gasoline, Lead, Copper Drop on Concern U.S. Financial > > > > > > > > > Rescue to > > > > > > > > > Fail > > > > > > > > > > •Brown, Aso Strive to Save Themselves, and Bush May See > > > > > > > > > Economic > > > > > > > > > Benefits- Hide quoted text - > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > > - Show quoted text -- Hide quoted text - > > > > > - Show quoted text -- Hide quoted text - > > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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