Seattle Bubble Forum Archive

None of the above. We all have some friend or relative who just spews crap out of his/her mouth before the brain engages. I think Biden is in that category.

Wouldn't that qualify as stupid?

To be fair, there is such a thing as an economy that is stifled by too much saving; it's called China. They have relied on our spending to alleviate their own issue of over-saving. With American wallets drying up, they will need to come to face with this new reality.

So it's not like his advice is always stupid, it's just that it's wrong-headed if the problem your economy is facing is over-consumption. I think what it comes down to is the "if all you have is a hammer" analogy. Every recession we've gotten ourselves into in the past required renewed spending to escape. But then, how many previous recessions were directly caused by negative savings rates at every level of the income brackets?

Biden makes sense to me. Our economy has long been a house of cards, dependent on overconsumption and overpopulation. Without massive spending it comes crashing down sooner than later. The spending can't be wasted though, which it is, so it'll come crashing down. The majority support more Moon missions, even a Moon base, at a cost of more than $1 trillion, all borrowed. Today I read about a $19 million program to create artificial Moon dust. We're repeating the lunacy that led to famine in China.