Wednesday, December 20, 2006

About Americans (and Europeans)

"The day will come when the spending will stop, and the easy credit gravy train will derail taking down with it Mr. and Mrs. American consumer. It’s going to be painful, but isn’t any bad habit painful to kick. The problem is that this bad habit supports the life of our economy, our comfort levels coupled with standards of living. It’s going to be ugly. The savings rate level in this country is below 1%, its actually negative when you consider all the credit Americans have leveraged, scary stuff huh… but is does not matter they say, all is well the federal town crier is yelling. Keep spending; keep consuming, for your lives depend on it."

There is an erroneous European view of the Americans as people who are unduly-in the vulgar sense of the word-"materialistic".

If today's attitude of the Americans proves something, it proves the opposite.

It shows that they believe in miracles, and this belief in miracles is simply an expression of the notion that if you try hard enough you can make wonderful things happen.
The chief trouble with the Americans of today is that they have their expectations on the wrong miracle.

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