Wednesday, January 30, 2008

America's meltdown

America's meltdown

According to the media, the success of the American economy depends on consumers consuming. Yet experts tell us that Americans no longer have any savings, they have no equity left in their houses, and they have maxed-out their credit cards. Nonetheless, if the economy is going to weather the present storm, Americans must spend and spend lavishly. How exactly are they supposed to do that? And is doing so a good idea?

If you already can't pay the minimum amount due on your credit cards, is it wise to buy yet a bigger television? Patriotic perhaps, but not in your self-interest.

Once again, the health and happiness of the average American is being sacrificed so that those in power can continue to make poor choices. Of course, Americans could rise up and refuse to shoulder the whole burden of shoring up the economic house of cards but then when the economy comes crashing down they will be the first to suffer. There has got to be a better solution.

Martine Cherau Montréal du Gers, France

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