This would be funny if it weren’t almost exactly what is happening. Only difference is that the Money is going to banks instead of employers.

Only question now is whether a decrease in the velocity of money (coupled with demand side weakness-shout out to the Keynesians amongst us) is enough to offset the increase in the supply so that inflation doesn’t blow the roof off.

As a side note, I’m convinced income inequality is going to really shrink in the next few years…wages will stay stagnant at the low end and unemployment will increase, but stock gains, bonuses, options, principal invesments, etc. will be absolutely hammered. The excesses of the past years have caused this and reality will set in.

Stan

This would be funny if it weren’t almost exactly what is happening. Only difference is that the Money is going to banks instead of employers.

Only question now is whether a decrease in the velocity of money (coupled with demand side weakness-shout out to the Keynesians amongst us) is enough to offset the increase in the supply so that inflation doesn’t blow the roof off.

As a side note, I’m convinced income inequality is going to really shrink in the next few years…wages will stay stagnant at the low end and unemployment will increase, but stock gains, bonuses, options, principal invesments, etc. will be absolutely hammered. The excesses of the past years have caused this and reality will set in.

Stan

This would be funny if it weren’t almost exactly what is happening. Only difference is that the Money is going to banks instead of employers.

Only question now is whether a decrease in the velocity of money (coupled with demand side weakness-shout out to the Keynesians amongst us) is enough to offset the increase in the supply so that inflation doesn’t blow the roof off.

As a side note, I’m convinced income inequality is going to really shrink in the next few years…wages will stay stagnant at the low end and unemployment will increase, but stock gains, bonuses, options, principal invesments, etc. will be absolutely hammered. The excesses of the past years have caused this and reality will set in.

Stan

So, contraman, since you were “born into a hard working family in the mid west that places little to no value on material things,” I guess you live in a one bedroom hovel and give away 80% of your money to charity. Is that right? Man, it must be kind of odd living here in the U.S. without a car, television, cell phone, computer, etc. Oops, you must have a computer…

I don’t think greed in and of itself is “one of the major factors that has contributed to this calamity that is upon us.” It’s ignorance.

I’m greedy. Really greedy. I’m definitely looking out for number one. My happiness and contentment is without a doubt the most important thing in my life. (The fact that I derive a lot of happiness in helping others, via charity and other avenues, is beside the fact. It’s still about my happiness at the end of the day.) And despite my incredible greed I didn’t get caught up in this whole housing mess. How can that be? Well, it’s because I’m greedy, you see, and didn’t want to lose my ass.

If you contemplate all of history’s inventions and discoveries that make our lives better/easier/more enjoyable, I’d be willing to bet that 99% of them did not originate from an altruistic motive. No, they were invented or discovered by someone trying to make a buck – some greedy SOB. Prove me wrong. Greed, generically, is good. (Gordon Gekko didn’t have it all wrong after all.)

Nope, the problem isn’t greed. It’s UNBRIDLED greed COUPLED with huge helpings of ignorance and impatience.

As an aside, I’ve generally found that people who rail against greed and materialism are the greediest and most materialistic people around. But that’s just been my experience.

So, contraman, since you were “born into a hard working family in the mid west that places little to no value on material things,” I guess you live in a one bedroom hovel and give away 80% of your money to charity. Is that right? Man, it must be kind of odd living here in the U.S. without a car, television, cell phone, computer, etc. Oops, you must have a computer…

I don’t think greed in and of itself is “one of the major factors that has contributed to this calamity that is upon us.” It’s ignorance.

I’m greedy. Really greedy. I’m definitely looking out for number one. My happiness and contentment is without a doubt the most important thing in my life. (The fact that I derive a lot of happiness in helping others, via charity and other avenues, is beside the fact. It’s still about my happiness at the end of the day.) And despite my incredible greed I didn’t get caught up in this whole housing mess. How can that be? Well, it’s because I’m greedy, you see, and didn’t want to lose my ass.

If you contemplate all of history’s inventions and discoveries that make our lives better/easier/more enjoyable, I’d be willing to bet that 99% of them did not originate from an altruistic motive. No, they were invented or discovered by someone trying to make a buck – some greedy SOB. Prove me wrong. Greed, generically, is good. (Gordon Gekko didn’t have it all wrong after all.)

Nope, the problem isn’t greed. It’s UNBRIDLED greed COUPLED with huge helpings of ignorance and impatience.

As an aside, I’ve generally found that people who rail against greed and materialism are the greediest and most materialistic people around. But that’s just been my experience.