12-21-2008, 05:11 PM
mikeylikesit wrote:
We ain't gonna' spend our way out of this so why not just stop spending and live a simpler existence while letting the chips fall where they may? Pick up what's left and go on from there.
I don't see putting money into carefully chosen infrastructure projects as spending, more like investing. Pumping money into multinational banks and investment houses, well, that's starting to look like the sham most expected it to be.
I'm in the minority, in that I actually have savings, and no credit cards or debt of any kind. My reward is interest rates that maybe offset half of what inflation takes. At least I don't have any chips in the Wall Street Casino. Those people should have been allowed to fail, then the Gov should have gone after all their assets, like the multiple homes and ridiculous luxury items. The local and regional banks would have eventually taken up the slack and we'd all end up more diverse and healthier.