Print Story Out destroying the economy
Diary
By riceowlguy (Thu Dec 11, 2008 at 09:51:10 AM EST) (all tags)
since 2004.


I've been listening to NPR's new daily podcast, Planet Money, and a recurring theme from many economists is that people suddenly being responsible and deciding to save up cash for major purchases or skip unnecessary purchases altogether in favor of some financial responsibility is what is suddenly killing our economy.  Well, hell, I've been doing that since 2004, so it's not my fault.

If our economy can't be sustained when people are being responsible, that is a bad sign.

So, yes, it snowed here in Houston last night.  That's the first time I've ever seen it snow here in the then years I've been here (it did snow on Christmas a few years back, but I was in Austin at the time and I missed it).  It's only the second time in ten years I've seen it snowing, period (it snowed up in Seattle when I was there last January).  I gleefully made snowballs with the stuff sticking to my car roof and threw them at a tree.  Then I put on three layers and snuggled up under a couple of blankets and had a nice warm sleep.

Recent Netflix activity - I finally get around to seeing the Kill Bill diptych.  The first one is just silly, but the second one was pretty awesome.  I'm starting to watch The Wire as well.  Only one episode as of yet, but it's already pretty gripping.

< I always have to be Sharpay | Some amusing stuff >
Out destroying the economy | 8 comments (8 topical, 0 hidden) | Trackback
I missed the last snow as well by StackyMcRacky (4.00 / 1) #1 Thu Dec 11, 2008 at 10:25:44 AM EST
I was in Florida at the time.

One of my neighbors made a snowman.  It was still standing at 9am.

Careful of The Wire by wiredog (4.00 / 1) #2 Thu Dec 11, 2008 at 10:48:04 AM EST
People I know who watched it found it highly addictive.

Earth First!
(We can strip mine the rest later.)

+1 ironic [nt] by riceowlguy (2.00 / 0) #3 Thu Dec 11, 2008 at 11:09:11 AM EST


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Bah and Heh by buttercup (4.00 / 1) #4 Thu Dec 11, 2008 at 12:39:31 PM EST
BAH! I was in Houston when it snowed in Austin and Austin when it snowed in Houston. I saw a few flakes on my windshield driving through Columbus.

HEH! I, too, am finally watching Kill Bill on Netflix. I've got Volume II sitting on my table now.


"Too slow, Chicken Merengo!" — Cat
Being responsible by duxup (2.00 / 0) #5 Thu Dec 11, 2008 at 11:52:16 PM EST
A while back I was wondering what would happen if everyone started being responsible with money considering how consumer driven the economy is.  Scary.

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It's not that it's bad long-term by Phil the Canuck (4.00 / 1) #6 Fri Dec 12, 2008 at 02:50:08 AM EST
But the adjustment period between the max-out and save-up phase is going to be painful.


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I doubt it by duxup (2.00 / 0) #7 Fri Dec 12, 2008 at 03:55:46 AM EST
Save up?  You have to save up for life.   Most Americans have squat for retirement last I checked.  The amount people were spending wasn't feasible even in the good times.  If acting responsibly most will never spend like that again.  If that is the case some of the economic shrinkage would then stay shrunken.

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Save up for life? by Phil the Canuck (2.00 / 0) #8 Fri Dec 12, 2008 at 04:05:32 AM EST
I think what I meant was they'll do things like, say, save up a decent downpayment on a car they can afford rather than leasing a monster truck.  Save up for a new TV instead of putting it on store credit.  Yes, some of the economic shrinkage will remain, but there won't be the threat of a giant bubble-burst like we have now. Unless, as I suspect, people will go back to their old ways in a few years.


[ Parent ]
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