If You've Got Money, It's Time to Spend SomeIf that isn't the most moronic thing ever written by an economist . . . wait a minute, I almost forgot Paul Krugman has been writing for years. OK, then: If that isn't about the 1,114th most moronic thing ever written by an economist . . .
. . . Despite the strength of the economic logic urging spending during a downturn, powerful psychological forces push in the opposite direction. . . .
How should upper income Americans balance the economic imperative to spend with the social benefits of restraint? . . .
Second, consider becoming a more generous gift-giver. . . .
For the rest of us, let’s let envy take a holiday. Encourage your wealthy neighbors to buy new Cadillacs. Each car they buy will mean a little less bailout money that we’ll have to come up with. President Obama is right about the need for more responsibility, but for those of you who have been responsible, this is the time to disregard those puritanical whispers and buy something fun.
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