Robert Shiller on America's 'Speculative Culture' [View article]
Wakeup---Yes, we are going to have a lower amount of consuming in the US, forced. The obvious mechanism is the decline in the Dollar and related change in basic necessity consumable prices, not to mention losing the bubble jobs, etc. In an even bigger picture, since we had a pronounced over-consumption, perhaps the lesser consumption level is kinda a needed adjustment, although it will feel awful for many.
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Wakeup---Yes, we are going to have a lower amount of consuming in the US, forced. The obvious mechanism is the decline in the Dollar and related change in basic necessity consumable prices, not to mention losing the bubble jobs, etc. In an even bigger picture, since we had a pronounced over-consumption, perhaps the lesser consumption level is kinda a needed adjustment, although it will feel awful for many.
Apr 24 16:30 pm
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