Re: [SLUG-POL] Facist economic model, wealth v. income, Jackson v. Bank all over again, China -- WAS: one-sided political figure jabs?

From: John Pedersen (john@jmp-systems.com)
Date: Sun Sep 12 2004 - 05:03:59 EDT

> For example, the cash for most transactions in this economy do not come
> from the refinancing of property. At the consumer level, cash mostly
> comes from salaries, which arise from production of one sort or another.

But the point is that soaring personal debt is what is keeping the
economy "healthy" (by your definition; ie. buying and selling).
Without the increasing personal debt, you would be seeing your
precious "Paul's Buying and Selling Index" economic indicator falling,
falling, falling....

I think you must be the last person in America who hasn't heard about
increasing levels of consumer debt and each year we set new records in
personal backruptcy. Next year will see even worse figures, and the
next year will be worse.... That's what happens when you ship jobs
oversease, and discard your manufacturing base that has been
responsible for America's rapid rise for the past couple of hundred years.

The government whose figures you trust so much has been feeding the
increasing debt by injecting almost interest-free money into the
system, for several years now, so that people could add to their debt
by refinancing their houses, etc. Maybe you haven't heard about that
either.

You reject the complex data out of hand, and you reject simplified
examples, so there ain't much left to say. I won't waste more time on
consumer debt. You might want to try a really neat web site called
Google.com, and search for information on "increasing consumer debt"
or something like that.

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