kevin@client1.DRETOR.UUCP (Socrates) (08/16/89)
In article <KIM.89Aug14160951@watsup.waterloo.edu> kim@watsup.waterloo.edu (T. Kim Nguyen) writes: >The FST will indeed slow the slowing economy, but I fail to see how >that will boost inflation. Oh, OK, maybe I do. Costs will rise, so >there might be some inflationary pressure to increase wages, however >isn't it likelier that people will reduce their discretionary >expenditures? Hee, hee, that's a good one Kim. You almost had me believing it for a moment there. The sad fact of the matter is that people will always live beyond their means until something is done to demonstrate to them that this is not a wise thing. A depression would do it, but that is not a good thing. Bankruptcy might do it, but it's not serious enough. Higher prices will certainly not do it. It didn't work that well before, and now the credit card companies practically beg you to spend money you don't have. No, the only thing likely to make people reduce their discretionary expenditures is financial responsibility. But, we don't get it from our businesses or even our government, so why should we expect it from our people? Maybe by making credit illegal :-) ? -- --- Kevin Picott NTT Systems, Inc., Toronto, Ontario "There can be no offense where none is taken" - Japanese Proverb kevin@zorac.dciem.dnd.ca, or on some sites kevin@zorac.ARPA
brian@jtsv16.UUCP (Brian A. Jarvis) (08/17/89)
In article <2409@client1.DRETOR.UUCP> kevin@client1.dciem.dnd.ca (Socrates) writes: >In article <KIM.89Aug14160951@watsup.waterloo.edu> kim@watsup.waterloo.edu (T. Kim Nguyen) writes: >> [Won't people start cutting back when they realize they're living beyond >> their means?] > > [No.] > >No, the only thing likely to make people reduce their discretionary >expenditures is financial responsibility. But, we don't get it from our >businesses or even our government, so why should we expect it from our >people? Maybe by making credit illegal :-) ? Reverse the logic and you've got a better chance of being right. We don't believe in living within our means, and we've elected numerous governments reflecting that philosophy. Myself, I'm waiting for one rip-roaring, gonzo-whopper, Biblical-style recession. But, damn it, it looks like we'll get a soft landing instead! B{) >--- Kevin Picott NTT Systems, Inc., Toronto, Ontario =============================================================================== __ __ Brian A. Jarvis, / ) ...jtsv16!brian / ) J.T.S. Computer Systems Ltd., /--< __ o __. ____ /--/ Downsview, Ontario /___/_/ (_<_(_/|_/ / <_ / ( o My dog, Goof, still says "Hi!" "Something unpleasant is coming when men are anxious to tell the truth." ===============================================================================