reply to post by MoonMine
What I don't understand is why he would tell people to save in a time of recession. You don't come out of recession if you save. Unemployment will
spike(for all you people complaining about unemployment already being at 6.5% right now). Go ahead and save and hide your money. It will be come of
less value and you will only create more problems. That statement just blows me away. I'm actually an undergrad in economics at the university of
Wisconsin applying for grad school soon and I have yet to take one class that agrees with the some of the terrible and misleading/uneducated
information that I read on this site. Look...as I stated in a different forum today several economists from princeton, Harvard, etc have recently come
out and explained in detail as to why Europe is in a much worse situation economically than the United States. They expect china's grow to slow to
about 5.5% or maybe even less which may end up being a bigger problem than what we have now because that will send them into a big panic and crush
their egos. China relies on the U.S. to buy their products and the U.S relies on china to buy their debt. It's not going to change and China really
does need this system.
Now honestly look at what happens when you save. For example Japan had the hardest time trying to get their country to spend their money since the
90's when they hit recession(the japanese are known for not spending and saving) and they ended up being in recession for more than a decade. So if
you want unemployment, panic, and everything else then don't spend.
I watch the news, read online articles from various websites and it's funny. You can tell that several of these articles are written just to gain
more readers. Just sending people up in agony. Some of these authors are clearly getting their information from bad sources, but then again who wants
to read articles that saying everything is perfectly fine. Even though they are not, some of these people are making things out to be Armageddon and
they are the people getting the most reads.
