Comments on: Bribing Consumers to Save the Economy http://dailyreckoning.com/bribing-consumers-to-save-the-economy/ Economic News, Markets Commentary, Gold, Oil and Investing Strategies. Sat, 26 May 2012 07:14:39 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: H. H. http://dailyreckoning.com/bribing-consumers-to-save-the-economy/#comment-39323 H. H. Wed, 18 Nov 2009 17:53:12 +0000 http://dailyreckoning.com/?p=20284#comment-39323 This is mainly directed to Harry. It's not silly, it's true. Value only exists in a rational market. If the market is not rational, the value of many things, [ex: oil, gold, stocks,] is suspect. Strangely, the flood of U.S. currency into the world seems to be having a somewhat beneficial effect for developing countries. This may well be by design. [the powers that be] I suspect the powers that be are expecting a miracle response from the American economy [ie: exports] to enable a recovery as well as growth in the U.S. and the rest of the world. So, in a sense, I hope you are right in your observations. I remain convinced, however, that recovery will be very painful, especially for the western worker, but eventually, inevitable. Regards, Hugh. This is mainly directed to Harry. It’s not silly, it’s true. Value only exists in a rational market. If the market is not rational, the value of many things, [ex: oil, gold, stocks,] is suspect. Strangely, the flood of U.S. currency into the world seems to be having a somewhat beneficial effect for developing countries. This may well be by design. [the powers that be] I suspect the powers that be are expecting a miracle response from the American economy [ie: exports] to enable a recovery as well as growth in the U.S. and the rest of the world. So, in a sense, I hope you are right in your observations. I remain convinced, however, that recovery will be very painful, especially for the western worker, but eventually, inevitable. Regards, Hugh.

]]> By: Lost & Found http://dailyreckoning.com/bribing-consumers-to-save-the-economy/#comment-39293 Lost & Found Wed, 18 Nov 2009 13:11:30 +0000 http://dailyreckoning.com/?p=20284#comment-39293 @ M.S. Not Bill. He's fast on his feet. @ M.S.

Not Bill. He’s fast on his feet.

]]> By: Harry http://dailyreckoning.com/bribing-consumers-to-save-the-economy/#comment-39153 Harry Tue, 17 Nov 2009 21:53:36 +0000 http://dailyreckoning.com/?p=20284#comment-39153 "So, the infernal system continues…America creates dollars. The foreigners take them as though they had value. And they will have value…as long as they take them." Do you realize how silly you sound? That's exactly why we're not on the road to disaster as you seem to think. Obviously, there is strength in America that the entire world is literally buying into. And rightly so. “So, the infernal system continues…America creates dollars. The foreigners take them as though they had value. And they will have value…as long as they take them.”

Do you realize how silly you sound? That’s exactly why we’re not on the road to disaster as you seem to think. Obviously, there is strength in America that the entire world is literally buying into. And rightly so.

]]> By: M.S. http://dailyreckoning.com/bribing-consumers-to-save-the-economy/#comment-39112 M.S. Tue, 17 Nov 2009 17:45:54 +0000 http://dailyreckoning.com/?p=20284#comment-39112 "...social security – all of these programs give the poor an incentive to stay poor." Yes... but take all that away completely and THAT gives them an incentive to _mug_ you! “…social security – all of these programs give the poor an incentive to stay poor.”

Yes… but take all that away completely and THAT gives them an incentive to _mug_ you!

]]> By: sierra http://dailyreckoning.com/bribing-consumers-to-save-the-economy/#comment-39101 sierra Tue, 17 Nov 2009 16:38:14 +0000 http://dailyreckoning.com/?p=20284#comment-39101 Tim, I think you are partly correct according to the article on the hot-link in your comment. I also believe it was a combination of both; fear of peak oil which in part caused an artificial huge spike in consumption (gas) which toppled into the enormous ordinary consumer debt like credit card, auto, appliance and more importantly, mortgage payments. Like dominoes, they all fell. What happens when the gov (or FED) realizes they must because of global concerns, that the "bribing of the consumer" must slow or completely stop? Then all Hell will break loose. Tim,
I think you are partly correct according to the article on the hot-link in your comment.
I also believe it was a combination of both; fear of peak oil which in part caused an artificial huge spike in consumption (gas) which toppled into the enormous ordinary consumer debt like credit card, auto, appliance and more importantly, mortgage payments.
Like dominoes, they all fell.

What happens when the gov (or FED) realizes they must because of global concerns, that the “bribing of the consumer” must slow or completely stop?

Then all Hell will break loose.

]]> By: Shawn http://dailyreckoning.com/bribing-consumers-to-save-the-economy/#comment-39100 Shawn Tue, 17 Nov 2009 16:33:00 +0000 http://dailyreckoning.com/?p=20284#comment-39100 What I find so appalling is the common theme of requiring consumers to give up their rights: Need a job? Give up your right to sue your employer for damages Need a car to get to your job? Give up your right to sue the dealer who sold you the lemon. Need insurance to legally drive your car? Give up your right to sue the insurance company for denying a claim. Want to buy a house? Give up your right to sue the bank for "fine print" fraud. Need homeowners insurance on that house? Give up your right to sue the insurance company for canceling your policy and leaving you subject to foreclosure (for not having insurance). Want cable or satellite TV service, phone service, internet service? Give up your right to sue in the event that these companies slander your name to credit reporting agencies. I should not be required to waive my rights in order to participate in modern society. I have a job, and if politicians and businesses expect to get a piece of my paycheck, they had best step up to the plate for consumer protections. What I find so appalling is the common theme of requiring consumers to give up their rights:

Need a job? Give up your right to sue your employer for damages

Need a car to get to your job? Give up your right to sue the dealer who sold you the lemon.

Need insurance to legally drive your car? Give up your right to sue the insurance company for denying a claim.

Want to buy a house? Give up your right to sue the bank for “fine print” fraud.

Need homeowners insurance on that house? Give up your right to sue the insurance company for canceling your policy and leaving you subject to foreclosure (for not having insurance).

Want cable or satellite TV service, phone service, internet service? Give up your right to sue in the event that these companies slander your name to credit reporting agencies.

I should not be required to waive my rights in order to participate in modern society.

I have a job, and if politicians and businesses expect to get a piece of my paycheck, they had best step up to the plate for consumer protections.

]]> By: Where_is_Mogambo http://dailyreckoning.com/bribing-consumers-to-save-the-economy/#comment-39097 Where_is_Mogambo Tue, 17 Nov 2009 16:24:06 +0000 http://dailyreckoning.com/?p=20284#comment-39097 Awwww Man, who let the Harry? Awwww Man, who let the Harry?

]]> By: Bors http://dailyreckoning.com/bribing-consumers-to-save-the-economy/#comment-39092 Bors Tue, 17 Nov 2009 15:13:09 +0000 http://dailyreckoning.com/?p=20284#comment-39092 "Even France – historically, an economy with high jobless rates – is at 9.5% unemployment, while the US is 10.2%." Unemployment in the US is actually 17.5% “Even France – historically, an economy with high jobless rates – is at 9.5% unemployment, while the US is 10.2%.”

Unemployment in the US is actually 17.5%

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