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Chart Of The Day: The Wageless, Savingsless US Consumer
For a country in which the consumer is responsible for 70% of GDP, one wonders: without savings and without wages where will this "recovery" we hear so much propaganda about and which every investment bank this week went all in on (just like they did in the end of 2010 only to admit their error 4 months later) come from? Because every now and then it helps to step back from the trees and observe the forest. Behold: the forest.
Oh wait, we know where growth will come from: inventories
Source: Bloomberg Brief
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Very great chart ,this will help $EURUSD to break important daily trend next http://stks.co/oFa2
OT
Jeh Johnson Legal Counsel for the Pentagon and Obama acolyte is given a softball interview on BBC as he expounds why Drones are good.
This is worth watching
http://news.bbc.co.uk/2/hi/programmes/hardtalk/9774115.stm
It's becoming clearer and clearer that trickle down economics has failed. All the evidence suggests that we need more sensible regulations, increased welfare spending and a more progressive tax system that punishes excess and rewards frugality. But until this happens, I'm afraid the economy will continue to suffer. Don't say I didn't warn you.
Yes, but then million dollar bonuses would be out the window.
Bah ha ha ha!!! I remain long black markets until we start seeing some real consequences for bad behavior at all levels of society.
Hang John Corzine in public and watch the "markets" rally.
Deep Thought's by Ben Bernanke: https://sphotos-b.xx.fbcdn.net/hphotos-ash4/306029_444131465643717_52230...
I ran into Brian Moynihan yesterday. I asked, "Is that a MBS in your pocket or are you just happy to see me?" - Deep Thought's by Ben Bernanke
Sheeple Zombies too stupid to have a quick and dirty revolution and get it over already
If they are too lazy to work then they most certainly are too lazy to revolt or suffer other hardships. The real injustice is being perpetrated on the savers. Those that acted responsibly. However there is an article in this weeks Science News Mag about the driving forces behind going into debt and it is not all irresponsibility:
"Too little money, too much borrowing", Bruce Bower
http://www.sciencenews.org/view/generic/id/346200/title/Too_little_money%2C_too_much_borrowing
You may need a subscription to see the article, but basically it says that people living on the edge are more prone to borrowing.
Televised? The revolution won't even be organized.
There are plenty of consequences for the little people. Judging by the prison population, I would say there is an excess.
@Pemdas: I love the witty double-entendre'
French government spending is somewhere around 57% of GDP. They're closer to the ideals of socialism, than capitalism.
But don't tell me - their troubles are entirely the fault of capitalism as well, right?
How much do the communists pay you for each post? I might put my wife on it too.
Right, we need a big central government to regulate that rather than allowing the little children to act as they as they see fit and reap the rewards of what they sow.
MillionDollarBonus is just trolling.
MDB, don't forget 80% marginal tax rates like we had in that horrible era when Ike was president.
Yea that terrible time of no federal debt, high wages, good jobs with benefits plentiful - 93% tax on income over 3 millon!
I'm all for it - we tried trickle down for 30 years - why not try High Taxes on those that have Captured government into their own little bailout, corporate welfare slush fund -
The more the ultra-wealthy have the less everyone else has - they got that Jack by Gaming and capturing the system NOT by being smarter or having a 'better work ethic' that eveyone else.
Jackals and vampires are what the oligarchs are.
We had the right answer with the way Mussilini was treated - we've forgotten the lessons of the Past in the way to deal withthe Fascists ruling over our pretend democracy.
And little competition from abroad.
http://www.wallstreetoasis.com/blog/90-marginal-tax-rate-explained
You forgot giving the power to raise the debt ceiling limits to the Obama Czars as a key to prosperity...
There's actually a "drone caucus" in DC lobbying to get the laws changed so that defense contractors can sell drones to police agencies and such. If they succeed, there will be drones handing out speeding tickets and shit like that. It's crazy-town. It's like the stoplight camera bonanza times 1000.
Don't need no wages when you gots the EBT bitchez! Don't need no jobs either!
And you can vote to take "rich" peoples' money!
I loves me some rich peoples money.
T'aint there mony anyway.
T'aint they mony noways.
cracker.
At the store last night the woman in front said, "Charge" when asked what type of card. She whipped out her EBT card. I asked what her interest rate was. LOL and she said none, obviously befuddled. I couldn't resist and congratulated her on being so financially savvy. Was she ashamed? Absolutely not - said she didn't have to pay because she was on...disability. She almost raced out of the store in her new jogging outfit leaving us idiots speechless. This is a mini example of the demise of this once great nation.
Is she married to a fucking TBTF banker that is counting his bailout money. Tango, your a stupid redneck with shit for brains.
Is that the best you can do shit head? U have been drinking to much of your own after shave. Take a stress pill and lay down.
Illegals and new immigrants know how to collect freebies from the government.
Anyone know the effect on the deficit if welfare and food stamps were restricted to US citizens only? I'm guessing a healthy chunk would disappear.
R U a birther, too?
Was gonna reply, "R U a fucking idiot?", but....it's obvious you are.
Read Eric Hoffer, you might change your mind. But on second thought, do you know how to read, you racist, redneck, fuck.
Was gonna reply, "R U a fucking iidot?" - but, again, you just proved you are. Toodle on back to KOS, you statist jock-sniffing little bitch.
Yesterday I was in line w/three people ahead of me. I was the only one with cash -- rest? EBT, of course. I sometimes feel like one of the few people in town with funds and we're a struggling middle class family.
It behooves me that they seem to dress better than I, drive better than I (we have to old cars but no car payments) and seem so much more able-bodied than I. While I'm getting stress lines in my face -- these people also seem happier/relaxed. I know it won't last long, however -- when that card reads $0 and isn't being refilled, things will get extremely ugly.
I gots me an obamaphone. Keep obama in president
I asked my son if he should get an Obama phone. He's moved in with friends and is not working because all the jobs are beneath him. He said he didn't want a free Obama phone since the were small and only had limited minutes. Even beggars are now being choosy.
that might be more your fault than Obamas...
ouch X\
Romney is a loser and so are you. Get over it moron! Simple minds prefer simple explanations....
Many get multiple phones so they can use the next one with minutes.
tango,
Look in the mirror, jerk-off. I can tell your an idiot that thought your home equity was gonna keep growing! Just like the bearnacke printing $. Go stick your head in the toilet, fuck-head. That is where it belongs.
Speaking of idiots, once again you have failed to master the most basic of all verbs. I can tell you're an idiot.
Actually, that has nothing to do with conjugation of verbs. It's just a simple construction of a contraction. Even easier than conjugation and still not mastered by many.
Since we have so many self-appointed English teachers. How about this one! "We skipped to the store, John and me." "We skipped to the store, John and I." Which is correct English? Since you are (ha, ha, fuck u) el paccoo fuck-head, take a shot asshole.
"I" is nominative case, whereas, "me" is objective case. "John and I skipped to the store," gives you the answer you seek.
Once again fuck head, is that the best you can do, jack-off?? When all else fails, appoint youself an Engliush teacher. Maybe you can hvae fuuunnn wath phis.....Phuk whoo..............
It's been all downhill for practically everything since the early 80's when automation and outsourcing started to eliminate our manufacturing base:
http://research.stlouisfed.org/fred2/graph/?g=dhK
Automation is my business and business is good!
Thank goodness....otherwise that Kia would cost you like $150K.
which begs the question: Would you rather lose your job to a machine or a foreigner? ... tough call. I'm a spiteful sob, so I'd say machine.
Do you not understand the majority benefit from automation, though a few lose their jobs because they are no longer efficient? This is pretty much economics 101.
It's becoming increasingly difficult to know when posters are having a laugh or when they are serious. The ranks of anti capitalists have been swelling as of late in the comments section.
In a sterile, theoretical world, you are right.
In the real world, there are only a finite number of jobs by which a man combined with a machine can produce value in excess of the minimum wage. When bigger and more complex machines result in less of a need for men, eventually you reach a point where the men must be employed at less than $7.25/hr. for the employer to make a profit. There is no benefit from automation if the social system cannot direct the newly unemployed into new productive endeavors, or if the legal system makes it unlawful to employ them at useful, albeit less productive endeavors.
In the USA both the social system and legal system are broken.
There are not a limited number of jobs. When the capitalist system isn't completely corrupted (as it is in our fascist economy), the workers displaced by more efficient methods of production would begin producing something new. The economy as a whole improves, as now BOTH the old things that were produced are still produced and something new is now produced. This lowers the prices.
I totally understand your frustration with wages being driven lower and labor getting shafted by the system. But its not due to the natural mechanics of capitalism, its due to the natural mechanics of fascism (privately owned assets centrally planned by the government). End central banking (central planning) and you begin the process back to capitalism (and away from fascism).
I am not the least bit frustrated by this situation. I'm only summarizing what I have observed. There is absolutely no point in being "frustrated" over a price produced by a market, whether it is the price for an apple, or the price for an hour of unskilled labor.
You are clearly wrong in your statement that jobs are unlimited. Labor is one component of the cost structure for the production of food, clothing, shelter, or whatever people deem desireable. Raw materials, energy, and interest on capital borrowed would be other components. We can reach a point where the materials and energy become so costly that there is no room for a labor cost in the equation, and those jobs disappear. That is admittedly overly simplistic, since demand will always have some price elasticity. But disapear the job most certainly will, if only gradually.
If government makes employment for less than 7.25/hr. unlawful, that is certainly not free markets at work.
And where the Fed centrally plans for ZIRP, that is not free enterprise, either, but I suppose if capital costs are zero, that leaves more room to pay for labor.
I do agree that over time automation lowers prices. The price for labor is one of the prices it lowers, so I guess you are seconding my observation.
Men still have to build, maintain, and repair those machines, as well as the machines that make the machines. Now those machines talk on networks. Men have to build, maintain, and secure those networks.
Nominal wage matters less than the purchasing power of the currency in which those wages are paid.
Yes you are correct.
But 100 highly skilled and highly educated men do what it took 2000 men, most with minimal skills and maybe a high school diploma, to do in 1960.
That is amazing and wonderful.
The very limited and tiny idea I am suggesting is that this process has caused, and is continuing to cause, the price for unskilled labor to fall, and that right now it sits below the level of the federal minimum wage.
The rest of you can argue whether that is good or bad, or what should be done about it. I'm simply upset that people seem not to want to see or accept the fact.
If the Fed and Federal government hadn't robbed 98% of the dollars value, minimum wage would be okay. As it is the more they print, the less the wages you get purchase. No worries, EBT cards are good everywhere just about. When the system incentizes graft and laziness, go with the flow. Just be ready for when it all goes FUBAR and the EBT card balance won't buy a loaf of bread.
Been in Automation for 35 years and only twice in my career were there immediate layoffs attributed to the automation. Once it put a bunch of Rework welders out of work, but quality went way up and later the project manager on another project told me the #1 reason for the automation was to reduce work force at the plant. Well, it made me sad, but I needed the job so I took it. As it turned out I was the first to be layed off (as is usual in this business) but the project was too late. They could not hang on. There was a downturn in the business and they ended up laying everyone off, bull-dozing the plant to the ground and selling the land. If they had started earlier maybe they could have saved a few jobs.
Adapt, Compete, Automate, Give up benefits or die! It's a global village now.
If you want to know how far automation has come see below:
http://theautomaticearth.com/Front-Page.html
Book: "Automate This", Chris Steiner (This book will scare the hell out of you. Memo to pharmacy majors: Change your major.)
Perhaps one should say " the majority of those that still have jobs benefit from automation."
It is the end consumer who benefits. Automation lowers costs and increases total production. This means more people can afford the product and hence it increases the wealth of the economy.
Over simplified: The economy as a whole goes from 10 cars to 20 cars and the displaced workers can go on to produce additional goods that also benefit the economy as a whole.
Accurate from a very dry analytical perspective but you are completely ignoring human behaviour and how people respond to losing their jobs.Workers have to invest time, energy and money into acquiring a skill. This process is usually carefully planned and worked towards over years thus influencing other life decisions, (getting married and having children). Replace them with a machine and those skills are rendered obsolete, their investment of time and energy is lost and their life plan disrupted. Not only do they lose time but they are also at a major disadvantage to younger fresher workers more suited to the new work enviroment. In some ways it disrupts the social contract that people make when they decide the role they want play in the socitey they live in. This creates a situation that de-incentivizes people to do anything that can't be replaced by a machine (or shipped abroad). I think this is why we are seeing the rise of the captive western middle class in the "services economy", an enviroment defined by not producing anything anyone actually needs(look at the trade deficits). Despite a higher quality of life and more goods less people actually play a real role in maintaining and growing socitey in the economic sphere, instead choosing to devote their energy to fulfill , whims, desires, and in the finacial sector it seems out right fantasies. I think eventually this will debase the whole concept of political representation. Though the masses may vote they will have next to no influence working in call centres, fast food outlets, or estate agents. Compare that with what would happen when public and private unions had the ability to disrupt energy, communications and transport. It is much easier to deal with 10 men manning computers that run an automated system than hundreds of skilled workers. In the end things don't go so smoothly and although output increases communities take a massive toll. The only was I see round it is to try and uphold the social contract taking into account technological advances. Teach the workers how to use, run and maintain the machines rather than forcing them out of the industry.
It wouldn't be so bad but we are coming to a crunch time with those who are saying the world is overpopulated just as big chunks of the workforce are rendered obsolete. Whats happened in the west isn't sustainable either. As the world becomes more and more insolvent. I think the two situations are going to converge. It wil be Trader Vs Algo, 3D printer Vs Artisan, Soldier Vs Drone.
"Automation" is not inherently beneficial. It's just a tactic. Automating mindless tasks and freeing up people's *minds* to do something constructive is beneficial--automating tasks which are more appropriately handled by creatures with brains in order to reduce costs is HARMFUL.
The best illustration of the downside of automation is every large-company's phone system. When customers call the company, you can probably trap out about 50% of the calls with the "automation" of the IVR or the phone tree. But the OTHER 50%, the people who have legitimate issues which require human interaction to discuss, are directly harmed by making the phone-system impossible to navigate.
It reduces COSTS by reducing SERVICE. A company that can make money by "selling" a product it never has to deliver will be very successful in the short-term, but it's nonsense to pretend that this is a beneficial business-model.
Darwin at work. Pun intended.
At least you have the (slim) possibility of getting a job servicing the new machinery. You wouldn't want a job servicing foreigners.
Admittedly, this has been great for us, but so long as people still want to eat, we will be in business. edible ipads would make me nervous from a business standpoint.
I made a fortune on automation and outsourcing! I could care less about the American consumer. As long as I have customers. 70% of my business is from offshore.
" I could care less about the American consumer. " And there you have the attitude that has given us what we have today!! Fuck you and the family that begot you,
Fuck you back, asshole. I got mine! How you doing, asshole?
"The meek shall inherit the earth." Psalms 25:8
The meek shall have have nothing!
Awesome comment thread for Friday humor!
http://gifsforum.com/images/meme/herp%20derp/grand/07085981.jpg
realtick,
R U a stupid, fucking, Sabo. As in sabotage, u fuck redneck idiot. To prove your an uneducated jerk-off, u don't even know what I'm talk'in about, do you!
Jennifer Granholm, is that you?
@realtick:
Exactly, but it was a reaction to the wage-inflation at the time. I've heard that the book "The Age of Greed" explains in detail what happened. (Haven't read it yet though)
There is no recovery. Governments have pumped trillions into the markets to keep them up.
The last of the markets to drop are the NYSE and NASDAQ. Every other market on the planet topped in 2010 and 2011.
http://bullandbearmash.com/chart/sp500-weekly-362-austerity-debt-fiscal-...
Consumer's personal savings? What's that?
"There is no recovery. Governments have pumped trillions into the markets to keep them up."
Market viagra, and it's petering out!
Government is recovering.
It was a little tough going there for a while but they're now taking market share, squeezing out the competition and locking in a dedicated customer base.
Forward looking government/(everything) ratios are projected to increase across the board, enterprises are buying more government, more consumers are voting for more government and there will soon be a secondary offering (or private placement) of +government voters.
This one is going to the moon. It's a paradigm shift, a game changer. Nothing will ever be the same.
BUY government equity (jobs, contracts, partnerships etc.) or picks-and-shovels plays like healthcare insurers.
Government bonds - not so much but bonds are for chumps anyway (BOOORING!).
What's for lunch?
It worked for Greece......wait a minute....
No doubt of it. Even the manufacturer warns that if your boner (bohener) lasts for more than four hours you should see a doctor.
That's their dirty little secret. If the value of the currency is halved and the GDP doesn't double the economy is by definition in recession, but keep that fact under your hat. Wouldn't want the sheeple to find out now, would we?
"Growth" is calculated on a nominal basis. You can continue to "grow" simply by increasing aggregate debt, regardless of how little the debt could buy on an adjusted basis.
"The sheeple" know full-well the economy is in the shitter. The only folks who are at all fooled are the relatively small percentage of folks who are educated and in relatively high-income and stable "careers."
They're the folks who know they're "smart" because they can read and repeat the opinions pieces from the NYT and the WSJ over drinks with their friends.
that savings rate must figure in the maggot kleptocrat billionaires too because imo otherwise it would be negative.
The trick is to get people to do things that are not in their own best interest.
The greater good?
horse manure
Well said.
Politics 101
+1
The trick is to get people to do things for little pieces of worthless monopoly money.
Go to work Bitchez
Bernanke refuses to understand.
Somebody who is considered a 'saver' is not going to increase risk at times like these, ever. The other side of the coin for savers, is debt. No emergency money and high debt loads make them nervous. They usually work on one or the other. Gambling money always comes from money one is willing to lose - NOT RETIRE WITH.
I just closed a couple of savings accounts and will soon sell all shares acquired through a purchase program with my last employer along with all other shares not in a 401k (that I keep just to look 'normal' to my current employer). All that money has gone and will continue to go to mortgage and self-sufficiency.
Many people will never get used to the 'new normal' which can now be translated as 'the same ole bullshit'.
The banksters and bernank can get a room and go %^&* themselves.
again and again and agian and again
AND AGAIN AND AGAIN AND AGAIN
Your mistake is in assuming that Bernenk doesn't already know this. When you realize that this is in fact the case then you might start seeing him for what he really is.
Ben Bernank knows exactly what he is doing. He isn't just some pie in the sky dreamer. He is just a tool in the movement FORWARD.
Whats even worse - is that 'they' also provide the poison to go along with the trick.
Now - if that isnt evil - i dont know what is.
.
The brainwashed electronic gadget loving zombified masses are NOT capable of independent thinking.
2%? Wasn't that the Social Security withholdings deduction this year?
savings what are savings?? ccards debt still at 19% visa and MC see no problems ..until the public figures out they don't need to pay it off..BK the new black.
Savings in 'american' economics are another way to consumption.
Wokking the dog in Chinese Citizenism hypocritizenomics is another way to roadside defecation.
Somehow your post reminded me of a matryoshka doll.
great charts...now overlay SNAP, credit, and Fed to see the forest is made of paper and 1's and 0's.
More Black Friday sales needed. End of Story. Keep the sheeples happy.
what is this thing "savings" that you speak of?
what is "wage"?
In the 60's, 9 of 10 Christmas presents were made in the USA. Can't buy a lightbulb or article of clothing US-made without looking VERY VERY hard.
These aren't the jobs you're looking for. (CEO waves hand)
ZIRP is beating the crap out of my savings. Never hear shit about that though.
Looks like at least one person wants to keep it that way.
Agreed. Not sure why anyone would pound the table about the importance of saving in a ZIRP to infinity environment. Cash is the WORST thing to be in right now.
Except for the rather obvious reason that capitalism requires...capital. There is a direct correlation between the rise of crony capitalism and the welfare state and no savings. The poster was right - the chart is skewed. we save 15% since so many folks now use the DWC (discount with cash) method. This must mean a slew of others are zero or negative.
Currency is not the only form of capital
and nothing is better than gold - which will be even better later on after the Kenyan Thug and his Democrat Raiders are thru ass-raping America - hope & change for us - rope & chains for him
ZIRP is increasing the problem. No return on savings might as well spend it on iphone7.
Correct. there is and will always be a very real cost for capital creation. To ignore this fundamental issue is to welcome a collapse in trust and faith of your currency. Get long any physical asset the paper-pushers can't steal or devalue.
ZIRP is the perfect solution for Government in Soooo many ways:
1. As you say, encourages people NOT to save as interest on savings is zilch (or negative after inflation)
2. Helps keep the stock and bond prices inflated as people, especially the retired, desperately chase yield.
3. Keeps mortgage rates low, which stimulates home sales--or at least keeps sales from totally collapsing.
4. Decreases borrowing costs for Government, which allows them to spend, spend, spend. After all, if interest rates are zero, then the cost of deficit interest will likewise approach zero. Of the items on the list, this one is MOST important.
So what's not to luv?? Except its gonna be a real bitch when it eventually comes crashing down.
Would not crash if people ssupport the thalassocracy.
I made 11.25% on my safe cash last 12 months with no more risk than in a savings account.
All I want for Christmas is an IPHONE, IPAD is what consumers are saying. Long live FOXCONN . Maybe the Sheeples should put a FOXCONN Ornament on thier Christmas Tree.
Just hang your old broken electronics and iCrap on the tree. Got a bunch of that.
That, in one chart, defines the Ronald Reagan legacy.
When you run out of Bush....you pretty much have to dig down deep for Reagan.
I thought when you got through the Bush you got Cliton?
Not if you are a partisan hack.
You can also just blame Obama for the trend that started in 1980.
If you like.
GHW Bush was the real President after Reagan was shot. Reagan was never more than a figurehead after that.
Still, the "Reagan Legacy" has a ring to it.
Bush, Clinton, Clinton, Bush, Bush, Obama, Obama.....
And people wonder why we're in trouble....I wonder how we are still alive.
I wonder where the elderly go, when they are no longer welcome in their kids house?
To the Death Panels of course.
Why, you store them in the Granny Pod!
https://www.youtube.com/watch?v=dIoqivTHS3Y
Tried to turn working class into investor class.. everyone, with their 401ks and pensions, could be a "Rentier" and not just the fat cats.
this is a fallacy.
it's a shame wages detracted so horribly from gains in productivity. too much of the productivity gains went instead to banks and this "rentier" class.
Who needed a raise when 401k went up 15% a year in the 90's? Who needed a raise when house prices went up 15% in hte 2000's?
Hey dumbass. The market is up over 100% in 4 years. Wtf is wrong with you! Climb on the choomwagon!
And how is that market doing realative to 2007 again? What's the real inflation rate again? What's the cost of health care again? What's the cost of a gallon petrol relative to 2001 again? Pretty clear who is in the choom wagon.
I think he was trying to be ironic.
That me....wageless no savings but i am long AAPL ha ha fools sarc
FB here.....screwem if they can't take a joke.
What about the student loans. They have been pissing away billions for Ipads and other crap using these loans as an ATM. Not going to be pretty unless their king finds a way to forgive the loans.........
LOL. Have u seen the college dorms these days filled with big screen TV's and looks like the kids are living rich. Also do not forget those fancy cars on campus Mommy and Daddy paid for or is paying for. Do not forget the Spring Break Specials these college student go to. I guess the dumbness starts with parenting and continues on. Inbred Fucks in the making in the USSA
Yes, funny thing is, the cinderblock rooms at the FEMA camps look the same. Coincidence? you tell me.
We promised you the loan.....we didn't promise you no job.
Going forward savings won't be necessary. The majority will be living on welfare, hand to mouth. They will work till they are no longer capable and after that they will be shuffled out of the system. Their will be a small portion of people that either through their particular situation, or just lucky from inheritance, will maintain some semblance of what used to be normalcy. Personal security will probably be a great business going forward.
Welcome to an 'american' world.
AnAnonymous
And how's that Chinese Shiticism world going for you, our little Chicom troll ?
Inheritance? That will be outlawed.
We will have two classes - those in the political party and the rest of us or aren;t you paying attention??
Don't you remember? Dear Leader and the ever delusional Nancy Pelosi keep assuring us that government spending on green energy and food stamps will pull the economy out of this recession - really a depression, but we can't say the dreaded "D" word. The economy just needs more government "stimulus" spending. Another six or eight trillion dollars should be enough.
The only bright spot in the consumer spending is guns. Buy bullets, bitchez!
They are killing savers....that old addage of "save for a rainy day"...no one even knows that line anymore...you can be sure the parents are not teaching their kids that.....not by example nor by reality...its stupid to save right now...you lose money...The era of the Depression era parents is coming to a close....so that memory is dust now...its all credit cards...buy now ..pay later....that is all the baby boomers know and same as their kids...just swipe the card and it works...it gets you that new X-box...or Iphone...and they are going to be very angry..."its not my fault"...when they can´t buy another one...
Why should there be a rainy day when we have a "Safety Net"?
Is that one of those moral hazards I keep hering about??
youngman
And predating the Great Depression was the Roaring Twenties- buy now, pay later.
Rainy Day? Its pissing down man.....
I am waiting to hear Depression and have not heard it yet.
You'll never hear it from the evil propaganda machine MSM. Thank God for websites like this and the internet in general. I never watch TV news of any sort anymore or read newspapers.
Damn. Looks like mfg's will have to install more automation so they can streamline further and make products cheaper so the broke masses can afford to buy them. LMAO.
The elite doesn't have to do anything out of the ordinary for a 2/3 population decline we are well on that path naturally.
I'm glad I don't have kids, in fact most people I know have no business having them. Here you little bastard........enjoy your miserable fucking life working at mcdonalds im sorry but your mother was fucking hot back then.
BTW don't anyone worry this will be a controlled and mangaged collapse. Politicians will tell you not to worry because surely everyone has millions just like them right?
While I generally agree with your sentiment I don't get the part about automation. Sounds like the attacks that were made on the automobile by those worried that all those stable hands, shit shovelers, blacksmiths, and farriers were going to flood the dole.
You know, people will always have a job if they are willing to grow the food they eat. Unfortunately, most would never stoop to manual labor, expecially if they can just eat their neighbor.