alstry (35.68)

We Built A Nation On Consumption

July 07, 2010 – Comments (1)

For The Last Ten Years.....Wall Street, Our Politicians, and Our People built an economy primarily on CONSUMPTION....

Consumption of fast food, consumption of houses, consumption of foreign goods.......

During that same period we outsourced much of our production.....

We made up the difference between production and consumption by simply borrowing trillions of dollars per year in the private and public sector.........

Now the bankers are cutting off credit.....the bankers we bailed out....first to the private sector, and now to our cities, counties, states, hospitals, and schools.

Soon many will realize America really does not have much of an economy unless we are consuming massively.......and massive numbers consuming.......and with the bankers cutting off credit.....consumption is evaporating as savings is extinguished and servicing a massive amount of debt is sucking the life our of our cash flow.

It is still amazing to reflect how we bailed out the banks and not the debt.

Benny the B and Timmy the G know this........yet they tell us things are getting better......maybe if we entered a really big war.....or had a really big oil spill.....they would have an excuse for being wrong......again.