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31. To save or to spend, that is the question
9 months ago
Chris Farrell is of two minds when it comes to the Paradox of Thrift. For more Money Clip, visit marketplace.publicradio.org/videos/moneyclip/. Sponsorship approved by the staff of Vimeo.com.
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Anyone interested in how saving and economies really work read Henry Hazlitt's "Economics in One Lesson." You'll be a lot better off; it explained why my guts feels all these bailouts are wrong.
the problem with the US economy is that we are 2/3 consumption and are nearing the end. the problem i have with the government is that they will not get out of the way and let these imbalances be resolved. the current administration is trying to reflate the bubble and put us back on an unsustainable path (i.e. to consume more than we produce; this is a fairy tale). please understand the bursting of the bubble is the solution. the REAL PROBLEM is that the bubble was created in the first place.