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Old 02-02-2009, 09:36 PM   #21
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Amen to that. We need to find a way to be net producers again, not just consumers and churners of stuff and services. New energy sources are the future of a sustainable planet. I sure hope we make some significant strides very soon. There are certainly promising developments around so I'm optimistic.
Years ago, the family (or individual) was a unit of production, not a unit of consumption. Maybe that needs to be turned back a bit.
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Old 02-02-2009, 09:52 PM   #22
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How so? If people are saving more, supply of savings rises...seems like it would result in craptastic rates for savings.
It will, but that does not mean folks won't buy CDs and/or keep too much money in the bank.........
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Old 02-03-2009, 07:39 AM   #23
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In the long run this recession would have to run much longer and deeper to become a significant emotional event permanently changing the behavior of millions of people. The Depression with the stock market crash (89% drop), 25% unemployment, bank runs, bank failures with no FDIC lasted for more than a decade followed by 4 years of WWII with it' scrap metal drives, gas rationing, tire rationing, food rationing, victory gardens. The depth and breadth of the Great Depression and WWII was a terribly long lasting hardship that changed people psychologically for the rest of their lives.

I don't see what has happened in 2008 leaving people hungry, homeless and more importantly feeling truly HOPELESS as people did from 1929 to 1945. This is going to have to get a lot worse and go for many many years before our collective desires to own big houses, sports cars, luxury SUV's, Jacuzzi's, motorcycles, vacations etc. goes away.

I am going to bet this doesn't get bad enough to change our collective behavior to spend and consume forever.
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Old 02-03-2009, 08:08 AM   #24
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Yes, it would have been "just as bad", but we have some "really" good folks in "our" Congress that are going to make this time "a lot different". Just watch them over the next couple of years.
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Old 02-03-2009, 05:44 PM   #25
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