The Incontiguous Brick

January 30, 2009

Recipe for Disaster?

Filed under: Money — iknowkeith @ 4:07 pm

I’m no economist but tell me if this sounds bad…

Shop all the time with you credit card.
Spend more than you make.
Use the amount you are spending as a measure of wealth and get more credit cards.

How would that work out for you?

Now look at this

consumer-fallout-420

The U.S. has run a trade deficit for decades.

Therefore we buy more than we sell overseas.

We can do this because people loan us money.

They loan us money because our economy is so strong.

Its strength is based mostly on how much we spend.

Uh…

Crap.

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