Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post

Claeren · 01-22-2009, 09:32 PM

^ Agreed, cash will soon be king.

There was an excellent article about this whole thing in the Globe the other day:
http://business.theglobeandmail.com/...drecovery/home

Basically, before the 'crunch' people were spending more money than they had. So practically speaking how long could that go on for?

Now, post-crunch, people enmasse are saving there money again instead of spending it. That is actually the only sustainable thing for people to do -- it only looks bad because people and companies had been so drastically outspending their actual means to spend.

Kind of crazy to think that SAVING ones money, when done collectively, is both prudent and destructive....

Claeren.

01-22-2009, 09:32 PM	#544
Claeren Franchise Player Join Date: Jul 2003 Location: Section 218 Exp:	^ Agreed, cash will soon be king. There was an excellent article about this whole thing in the Globe the other day: http://business.theglobeandmail.com/...drecovery/home Basically, before the 'crunch' people were spending more money than they had. So practically speaking how long could that go on for? Now, post-crunch, people enmasse are saving there money again instead of spending it. That is actually the only sustainable thing for people to do -- it only looks bad because people and companies had been so drastically outspending their actual means to spend. Kind of crazy to think that SAVING ones money, when done collectively, is both prudent and destructive.... Claeren. Last edited by Claeren; 01-22-2009 at 09:35 PM.