RSSConsuming Excess
Aug 02
Fareed Zakaria is normally a good read: The world needs Americans to spend.
Shouldn’t it be sending alarm bells that the world economy has become dependent on excess when everyone waits for, and depends on, the American consumer to stop being responsible by saving money and start spending recklessly again? Anyone encouraging the masses to reduce their savings to help spur the world economy is just trying to profit from your irresponsibility.
I’d wager most of those “economists” and “analysts” save more of their income than they’re encouraging the masses to do.
This made me think of the image below: 
Aug 03, 2009 @ 07:55:25
So true! Last year the econo-pundits were complaining that the average American’s savings account was nearly empty, which is why people who lost their jobs lost their houses.
But Americans learned the hard way, started saving more and spending less in order to weather the economic storm, and now the average savings rate is up. And they’re complaining that Americans are saving too much and the lack of consumption is hurting the world economy that is so dependent on Americas greed, irrational exuberance and shortsightedness.
It turns out that a wiser and shrewder American populace is worse for the world than the spoiled, decadent assholes we used to be. Be careful what you wish for, cause we’ll turn back in a heartbeat.