Comments on: US Consumers Still Spending Despite Rising Debt, Falling Wages http://www.dailyreckoning.com.au/consumer-spending-3/2007/09/11/ An independent perspective on the Australian and global investment markets Fri, 19 Mar 2010 11:05:32 +0000 http://wordpress.org/?v=2.8 hourly 1 By: Derek http://www.dailyreckoning.com.au/consumer-spending-3/2007/09/11/comment-page-1/#comment-3214 Derek Thu, 13 Sep 2007 03:03:36 +0000 http://www.dailyreckoning.com.au/consumer-spending-3/2007/09/11/#comment-3214 You keep wondering when people are going to wake up and face reality--and be rational in response. This is like my ever-present wondering when we're going to wake up and see being fat as ugly and unhealthy, or when are we going to wake up and reverse the moral slumming into which we have fallen...And, of course, the answer in your case and mine is--never. This is like waiting for Godot or waiting for the second coming of an imaginary character. As for why it is that we refuse to face reality in the economic sphere and why the poor keep borrowing and spending, well the idea is this: If we're going to fall, we're going to take the whole thing down with us, and everyone will suffer and everyone will be in the same bag...So, quit worrying, keep on spending (and trucking) and when judgment day comes, we can all get the government to print some more money. You keep wondering when people are going to wake up and face reality--and be rational in response. This is like my ever-present wondering when we're going to wake up and see being fat as ugly and unhealthy, or when are we going to wake up and reverse the moral slumming into which we have fallen...And, of course, the answer in your case and mine is--never. This is like waiting for Godot or waiting for the second coming of an imaginary character.

As for why it is that we refuse to face reality in the economic sphere and why the poor keep borrowing and spending, well the idea is this: If we're going to fall, we're going to take the whole thing down with us, and everyone will suffer and everyone will be in the same bag...So, quit worrying, keep on spending (and trucking) and when judgment day comes, we can all get the government to print some more money.

]]> By: Alan http://www.dailyreckoning.com.au/consumer-spending-3/2007/09/11/comment-page-1/#comment-3208 Alan Wed, 12 Sep 2007 08:19:51 +0000 http://www.dailyreckoning.com.au/consumer-spending-3/2007/09/11/#comment-3208 Is that spending nominal or adjusted? Is that spending nominal or adjusted?

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