Great comment on the economic collapse from one of my youtube videos...
I've heard our current economic situation worded many ways. Here is one:
- the entire "recovery" from 2003 to 2007 was nothing more than pulled-forward demand via "fog-a-mirror" credit that is now exploding and will continue to explode
I always tell people:
- we consumed future goods and services, and now we need to under-consume to give it back
Then I see eyes glaze over.
(that's the royal "we"; I don't live by credit or over-consumption)
- the entire "recovery" from 2003 to 2007 was nothing more than pulled-forward demand via "fog-a-mirror" credit that is now exploding and will continue to explode
I always tell people:
- we consumed future goods and services, and now we need to under-consume to give it back
Then I see eyes glaze over.
(that's the royal "we"; I don't live by credit or over-consumption)
