The tables have turned: the greedy CEOs are no longer to blame. (debt, buy)

[Movie Lover]

Its just come out in the United Kingdom that there will be a period of deflation and that prices will come down.

But get this: People aren't buying yet, they are waiting for things like house prices to come down before they snap them up.

Now its the PEOPLE that are greedy, not the CEOs.

The economy is set to get worse in 2009 as people save more and also through waiting for the devaluation of commodities.

[Nepenthe]

I don't know about the deflationary spiral actually occurring, but that is one artifact of deflation: people don't buy today what they believe they can buy for less money next week. It's simple economizing behavior, to use the term "greed" is to unnecessarily muddy the waters.

Prices come down, so people don't buy, so profits come down, so companies lay off workers, so income is reduced, which lowers quantity demanded and overall demand, so prices have more downward pressure. Debt repayment becomes more and more costly (in effect the interest rate has increased). It goes around and around.

[sonarrat]

Why not be greedy? I've watched lecherous investors buy up properties, put pergo floors in them, and flip them to other investors for a 20% profit for years now. It's time they got their comeuppance.

[Movie Lover]

I was just saying that the American people are enraged and bloodthirsty towards the CEOs.

I don't think the American people would like the CEOs blaming them.

Money goes round and so does the hatred.

[The Man in SATX]

to me Greed is a pretty good word for this.. but it is not just the CEO's who are greedy... greed is what makes the world go around... It starts from the bottom and works its way up... up to the CEO... if we didnt need money in this world.. do you think we would even worry about stocks and all of this other crap?

[evilnewbie]

Waiting for house prices to come down? Ummm... house prices are STILL too high... how about people waiting for house prices to get to REALISTIC levels before buying... I think the market is STILL too greedy but lying about low house prices when they are actually too high.. too bad they aren't fooling anyone...

[Movie Lover]

Saying that greed makes the world go round means I can have some of it to!

[The Man in SATX]

Originally Posted by Movie Lover

Saying that greed makes the world go round means I can have some of it to!

I am pretty sure you do have some of it too...

[Movie Lover]

Can I be greedy with nearly 11k in savings?

[The Man in SATX]

Uhh yeah...