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View Diary: HEMMED In - Too Big To Fail? Too Small to Care About. (57 comments)

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  •  I have a question (3+ / 0-)
    Recommended by:
    JanF, LI Mike, addisnana

    We're too small to care about until we have to pay taxes to bail them out buy what they sell. But they don't care if unemployment (U-6) is 16 percent.

    Where are they supposed to get their blood money profits if we all dry up and blow away?

    I used to think it was the global marketplace, where they're training people to be consumers, but that might not work either the way things are going.

    So what happens in the third act?

    Two good rules of life: Don't brake on a curve and don't drag the gears.

    by JG in MD on Fri Oct 15, 2010 at 06:28:05 AM PDT

    [ Parent ]

    •  I have been reading a lot of stories about (3+ / 0-)
      Recommended by:
      LI Mike, JG in MD, addisnana

      how they may have finally killed the consumer.

      Just this morning another one showing people are cutting back even further on their purchases.

      The right-wing has created a consumer economy by shipping all the jobs overseas and killing the middle class by destroying family-supporting jobs and now they are wondering why no one is buying their stuff. Duh.

      Much of life is knowing what to Google
      (and blogging at BPI Campus)

      by JanF on Fri Oct 15, 2010 at 06:51:09 AM PDT

      [ Parent ]

      •  Excellent diary, JanF (3+ / 0-)
        Recommended by:
        JanF, JG in MD, addisnana

        Karl Marx is looking more prescient every day.

        Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalised, and the State will have to take the road which will eventually lead to communism. (Das Kapital, 1867)

        Don't know about the communism part, but I wish Bernie Sanders had more clout.

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