Depressing Economic Pain

[statusquobuster]

The good news is that Americans are saving more money. The bad news is that Americans are spending less money. The even worse news is that increasing numbers of Americans without jobs do not have money to save or spend. Huge amounts of federal spending to resuscitate the economy are rarely putting dollars into the pockets of ordinary Americans.

Please read the rest of my article at:

Depressing Economic Pain by Joel Hirschhorn

 

[MaggieMae]

The good news is that Americans are saving more money. The bad news is that Americans are spending less money. The even worse news is that increasing numbers of Americans without jobs do not have money to save or spend. Huge amounts of federal spending to resuscitate the economy are rarely putting dollars into the pockets of ordinary Americans.

Please read the rest of my article at:

Depressing Economic Pain by Joel Hirschhorn

I would actually say that both of your opening points are good news. Americans have been spending at lightspeed and got ourselves in debt up to our eyeballs. Gotta have it; gotta have it now. Individual greed is a reflection of Wall Street greed which created the faux housing boom and ultimate collapse.

This is a huge time of emotional and philosophical transition in America--at all levels. The economy will eventually turn around, and our mindset will be completely different. The downward spiral has slowed considerably, but it will be a long time before the economy is leveled out.

 

[garyd]

Unless of course the government keeps trying to help in which case the economy will continue to slide as more and more money is pulled from the job creators and given to others whose primary concern is how much they have to drink shoot up or whatever to dodge the pain of an existence that is in their own minds useless.

 

[MaggieMae]

Unless of course the government keeps trying to help in which case the economy will continue to slide as more and more money is pulled from the job creators and given to others whose primary concern is how much they have to drink shoot up or whatever to dodge the pain of an existence that is in their own minds useless.

What would you be talking about? Social welfare programs, other than mandated entitlement programs, are a small percentage of the annual budgets.

Money is NOT presently being pulled from the job creators. If anything the rescue of the financial system by pumping cash into it (government being the only entity on earth that was able to do it), assures that the private sector can survive. Now much of that money is being paid back, to the taxpayer.

Every economist in the universe knows that unemployment will be the last to make it over this economic hump. But if the larger financial institutions were not able to keep small businesses afloat, there would have been even more layoffs and resulting unemployment.