ST Alpha - "Considering that consumers putting money into savings - and keeping it there - is partly to blame for the recession being as bad as it is" (Reading a Post)

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In response to "Doesn't mean he's not also doing other things. And others are donating space, etc." by CovingtonCat

Considering that consumers putting money into savings - and keeping it there - is partly to blame for the recession being as bad as it is

Posted by Beryllium (aka grayman) Jul 16 '09, 16:29

it's not such a bad thing for someone to waste some money.

The American economy got to where it was in 2007 by consumers wasting money and racking up debt en masse. The recession would be much shorter if people weren't frightened into saving money by the spectre of a recession. Is that irony? Maybe. But it sure isn't goldy or bronzy.

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Well, they were trying to get more people to save before the recession. - the liioulu with silver chains Jul 16, 16:35 1
- yep. -- nm - Beryllium Jul 16, 16:35

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Considering that consumers putting money into savings - and keeping it there - is partly to blame for the recession being as bad as it is

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