nytimes.com - 11/28/2008
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There is a deeper, potentially positive, meaning to the decline in consumer spending: Americans are now moving back to more prudent income-based lifestyles. >
WWW.samefacts.com - 11/26/2008
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WWW.samefacts.com —
Macroeconomics does funny things to morality. In a
recession, saving your pennies harms the economy. Many these...
days quote Keynes' "paradox of thrift," and rightly so. Each of us, by virtuously delaying gratification, harms the economy as a whole. ...
(more)
Stimulus, Consumption, and Charity
nytimes.com - 12/5/2008
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nytimes.com —
Chicago IN the recently concluded presidential race, I
was unwillingly thrust upon the stage and asked to...
play a role in a profoundly dishonest drama. I refused, and here’s why. Unable to challenge the content of Barack Obama’s campaign, his opponents ...
(more)
Op-Ed Contributor - The Real Bill Ayers
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The return of thrift and the essence of capitalism
TigerHawk —
Stephen Roach, the chairman of Morgan Stanley Asia, sees a silver lining in the collapse in personal consumption: The good news is that lines should be short for today’s “first shopping day” of the holiday season. The bad news is more daunting: rising unemployment, weakening incomes, falling home values, a declining stock market, record household debt and a horrific credit crunch. But there is a deeper, potentially positive, meaning to all this: Consumers are now abandoning the asset-dependent spending and saving strategies they embraced during the bubbles of the past dozen ...
The New York Times: A Confederacy Of Conflicted Buffoons
Say Anything —
... First there was this editorial castigating Americans (not necessarily incorrectly) for spending too much money. ...
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