Quote:
Originally Posted by BV
maybe you didn't listen, or don't like the sound of his solution. (you're not alone if so)
1 minute into the video quote: The cure is to stop consuming and start saving and producing again.
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The recession won't end until people do start spending again. The longer the recession lasts the higher the unemployment numbers will get. Kinda hard to save money when you ain't got no job.
As for producing, produce what? We shipped almost all of our manufacturing jobs overseas years ago. Once the big three automakers go down (and Schiff strongly advises against bailing them out) they'll be no manufacturing jobs left. None, zip, nada, that's
nothing to produce.
Like it or not we've got ourselves a service economy now and we're stuck with it.
A classic catch 22, eh?