Comments for Economist Who Could Not See $8 Trillion Housing Bubble Warns of the Need to Reduce Deficits at http://www.cepr.net , comment 1 to 1 out of 1 comments http://www.cepr.net Thu, 23 May 2013 21:11:26 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/economist-who-could-not-see-8-trillion-housing-bubble-warns-of-the-need-to-reduce-deficits/#comment-856 [quote]“We can see what problems can arise in a country if INVESTORS lose confidence in the fiscal position of that country, so it is very important that we address this problem,”[/quote] Before and during the bubble: "You too can be an INVESTOR. It's no longer for just big players on Wall Street. Now it's for everyone, ordinary consumers can invest as small amount as they like. It's the new retirement plan as well. Don't depend on defined benefit pension plans or Social Security, INVEST in employer sponsored plans with much higher returns. Not only that, even your home has become a great INVESTMENT. You won't regret it." After the bubble burst: "Where'd all the small INVESTORS go? They must have lost confidence and stopped INVESTING. Why aren't they working? Wonder how that happened? Who could have known? Oh well, we still have large INVESTORS who managed to pull themselves up by the bootstraps and survive. We'll have to cut the deficit to the bone with an austerity program, including reductions in Social Security, so the large INVESTORS will have enough incentive to pull us out of this mess, otherwise they might stop INVESTING as well and then we'll really be in trouble, like Greece. After all, the total level of GNP spending necessary to create jobs is not the objective. The objective, as always, is INVESTING. - izzatzo Tue, 08 Jun 2010 01:55:22 +0100