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Re: O/T Merril lLynch Ceo wants 10 m bonus


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Posted by noncompos on December 08, 2008 at 10:20:50 from (71.32.243.203):

In Reply to: O/T Merril lLynch Ceo wants 10 m bonus posted by bruster on December 08, 2008 at 06:53:27:

We seem to easily overlook the major thrust of our economy over the last 30-40 years: buy, buy, buy, consume, consume, consume. Hundreds of billions were spent on advertising as our economy changed from production to consumption (remember "...if you stop shopping the terrorists have won..."?).
The US consumer was holding up the biggest part of the world, mostly by buying up the worlds consumption, fueled by ever increasing debt (remember all those credit card offers and commercials?)
With everyone broke here, the rest of the world is spiraling down with us. Immediate profits were (and are) more important than the condition of the country.


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