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Paranurd
2 Comments
Consumer Credit: The Next Bubble? [view article]
Excellent points! And the job losses in IT and other areas continue. One IT company I am familiar with is in the process of being acquired in a private equity deal and before the acquisiton is final they have announced significant number of jobs will be outsourced abroad. We are becoming a two class society--the gap is widening and you are correct that a portion of the costly consumer debt overlad relates to purchasing necessities (real or perceived). Sep 03 10:15 PMConsumer Credit: The Next Bubble? [view article]
Consumers have fueled the U.S. economy for some time. What sector will step up to take the place of the tapped out consumer? Further, I wonder if many have stepped back and thought about Friedman's "The World is Flat" as a backdrop to the current situation? Will a debt laden U.S. be able to compete with China and India who turn out huge numbers of highly educated engineers and other professionals positioned to lead innovation? Will our children's work ethic match that of our Asian competitors? Its hard not to worry. Sep 03 10:10 PM