Some observations from the ASA

[maceo]

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The problem is, "those is the know" don't know dick. As mentioned, debt is productive when it's return is greater than the cost of borrowing. Debt blown on consumption and entitlements returns NADA. And the idea that we can borrow and consume our way to prosperity is so ignorant that anyone educated, including the president, should be totally embarassed to float along this idea.

We use this phrase, "We are a consumer economy," as if that has some legitimacy. In other words, we produce nothing and blow a bunch of money consuming crap we can't afford. What would you think of an individual that doesn't work but just consumes off of credit cards? Basically a deadbeat that will eventually fail, right? That's your "consumer economy" in a nutshell. Payback is gonna be a bitch.

its been working for a while aside for some rough patches here and there..

 

[pgg]

its been working for a while aside for some rough patches here and there..

Here's something else that would "work for a while" too: quit your job and max out the cash advance line on your credit cards.

If you didn't have such a long and glorious history of saying ridiculous things, I'd think you were trolling. As it is, I'm about 70:30 on you actually believing what you're writing vs indulging in some pot stirring.

 

[Bertelman]

thats what she said... seriously

😴

 

[Noyac]

Stop quoting that guy. He's on my ignore list with copro and now I have to read the crap he puts out. seriously!

 

[Bertelman]

Stop quoting that guy. He's on my ignore list with copro and now I have to read the crap he puts out. seriously!

 

[Narcotized]

its been working for a while aside for some rough patches here and there..

I believe I overheard some Madoff followers defending their ponzi investment with that exact same quote in 2007.