Where Has all of the Money Gone?

Or how Much all of the Savings Going to the Mattresses Matters

The world is experiencing a savings glut! In the latest gospel according to Paul, Krugman, a newly minted Noble Laureate lasso's the truth with his trusty lariat. The world is experiencing a savings glut! Duh!! I know explaining all of this is complicated. That fact is exacerbated by the publics' ignorance of accounting principles, business principles and the basis of Economic theory. But good grief Paul, just give us a clear path out of here.

That is really all we ask of Noble Prize winners in Economics, a plan for the future that fixes what was wrong with the past. We know we bought the rat poison. But we didn't mix it in the broccoli soup; that took a lot of chopping and dicing of those dicey assets. Turning it into such a puree, of such potency and apparently attractive alignment with our greed was the work of the Master Chefs of economics, not the rest of us.

We know no one is buying and investing right now. That is self evident in the numbers we keep hearing from your lesser brethren at the Fed and the Treasury Department. I know you told them so before this all happened. I already read the columns, already. So let's get on with the main event, How do we get our hands on all that money going into the mattresses in countries where saving is the main event?

We've tried putting our government in hock up to its bloody neck. So far we are still behind the curve. This is no little Laffering matter Paul. This is big! We can figure out how to repossess that award if you don't deliver. Just put the answer in a brown paper bag. Then set it down on the doorstep of the White House or Number Ten Downing Street. Then ring the doorbell. Don't set it on fire though. If our fearless leaders stomp on it their shoes will suffer massively.

Maybe the problem is that the only answer is more of the same old, same old. That is unless we abandon the fruitless consumption of the past. The new markets like China still believe in savings when the fit hits the Chan. That is why we struggled on trying to consume when we had no money. We were the consumer of last resort. That hotel is empty now and we are all hiding our money and afraid of the future.

Help, Paul Help. See Jane Run. See Jill hide her money? How do we get her to shop till she drops again? Help!!!!!!