Korean Job Discussion Forums

[RJjr]

There are too many rich and middle class deadbeats climbing into the cart to ride with poor people on welfare. There are too few "old school" Americans remaining to continue pulling the cart much longer.

That's why this depression will be so much worse than the one in the 1930s. Americans didn't have this kind of debt back then and there wasn't such a sense of entitlement. These days, a lot of Americans "deserve" everything, especially if it's a million dollar home bought with no money down and McDonald's wages. With lenders being demonized so much these days, a lot of people have changed Flip Wilson's famous line "The devil made me do it," to "The lender made me do it." Everything is always someone else's fault. Personal responsibility doesn't exist anymore. Years ago, McDonald's got sued because a lady spilled coffee on her own crotch. Now, they're getting sued because some people blame McDonald's for making them fat.

I know a couple in their late 30s who were condo-flippers during the real estate boom. They've been having some monumental financial problems and asking everybody around here to lend them money. I don't know who did or didn't (I didn't. Too many people owe me money already.), but I know a lot of people are angry that they've suddenly bought two brand new vehicles and a lot of new clothing and who knows what else. I guess the people who are angry are the ones who loaned them money and will obviously get stiffed when the couple declares bankruptcy.

[canuckistan]

This recession is proving to be a great lesson in returning to living within one's means.
That's not a bad thing.

[caniff]

[Ya-ta Boy]

[mises]

[mises]

And while I wasn't looking:

[Beej]

[mises]

Wow.

http://www.reuters.com/article/businessNews/idUSTRE51K0A920090221?feedType=RSS&feedName=businessNews&rpc=23&sp=true

[Ya-ta Boy]

mises,

I've got a bone to pick with you. It's very hard to keep an optimistic attitude when you keep posting stuff like that. Would it be too much to ask for you to consult the Pollyanna Daily Post for at least one positive article a day? Would it?

Sincerely,

Y

[mises]

http://3.bp.blogspot.com/_rWY3qGfe6gc/SZ5afvYs7MI/AAAAAAAABtY/mlKvKASUYFk/s1600-h/brusha_brusha_brusha.jpg

[Ya-ta Boy]

Yes, thank you for that. I feel better already.



Here's something from my hero and your nemesis, Paul Krugman that has a glimmer of hope in it:

Who�ll Stop the Pain?

So will our slump go on forever? No. In fact, the seeds of eventual recovery are already being planted.

http://www.nytimes.com/2009/02/20/opinion/20krugman.html?_r=2&ref=opinion

I admit it isn't much but it's something.

[mises]

We'll get out of this. It will take a couple years but we'll recover.

[mises]

But to be negative again... A bad hurricane season, a bad earthquake in California, a terrorist attack, a nuclear accident at a powerplant.. Any of these types of things would really be a nightmare (much more so than usual). We need perfect stability. A good crop, no military crises abroad etc. The system is fragile. A soft wind could blow it over. This goes for the whole OECD and basically everybody else and not just North America.

[Ya-ta Boy]

Here's one that will warm you up on a cold winter day (even if it isn't cold where you are):

It's one month into Barack Obama's presidency and it's already clear that the economic team isn't making the grade. Larry Summers helps craft a stimulus plan that almost no other economist thinks will work -- at least as well as it should. Timothy Geithner announces his bank-rescue plan and the market immediately drops 300 points.

The solution? Appoint Paul Krugman economic czar.

http://www.realclearpolitics.com/articles/2009/02/wish_upon_a_czar.html

[mises]

Who crowned that guy? Is it the Nobel? Gary Becker also has one, and is on a totally different page.

Just cause the guy was great at bashing Bush doesn't mean he has good ideas in his head.