Tuesday, November 25, 2008

The only way out is to spend

It says a lot about the mess our economy (and others like ours) is in when the only way out of depression is if the public continue to rack up enormous personal debt. If we all start to save and pay off debts it will put money back into banks but bankrupt retailers, if we put our money into shops we save the retailers but will have to continue to bail out banks and at the same time live beyond our means.

It's what happens when you base everything on what you consume rather than what you create.
As you would expect the blogosphere and general tinternet is awash with comment. Here's some of what I read:


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