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How to Be a Producer In a Nation of Consumers

December 31, 2018

How to Be a Producer In a Nation of Consumers

In this world, there are two kinds of people. You can be a consumer or you can be a producer.

Neither one is inherently good or bad – these are just descriptive terms. You can produce 100% of your own food and have a terrible heart, one that rejoices in the misfortune of others. You can never produce a single thing in your whole life and be kind and generous. This article isn’t meant to demonize consumers or set producers up on a pedestal.

Really, most of us are a combination of each type. But we should strive to tip the balance toward producing whenever possible because when bad things happen to an economy, when long-term disasters strike, and when everything changes, it is the producers who survive.

I talk about consumers and producers a lot, and recently a person in the comments asked me to clarify the concepts and share some ideas on how to become a producer.

So…here’s what it means to be a consumer or a producer.

The Consumer

Consumers are just what they sound like – people who consume. They purchase things they did not make, eat things they did not cook, and use up resources without replacement.

The terrifying thing is that we have become a nation of consumers who produce hardly anything.

Even our workforce these days rarely produces. The workforce cleans up after others, provides services, and spends their days in cubicles behind keyboards. Most of them do not go home after a long day at work having created something of value. They go home exhausted after a day of wrangling people or data, too tired to have a vegetable garden or perform productive tasks.

…click on the above link to read the rest of the article…

The Confessions Begin: Goldman, BofA Warn Crude Crash Will Have Negative Impact On GDP, Earnings

January 13, 2015

The Confessions Begin: Goldman, BofA Warn Crude Crash Will Have Negative Impact On GDP, Earnings

The plunge in oil prices is unambiguously good for the US economy

– Virtually every “pundit” with a business suit, who collected a $200 CNBC appearance in the past 3 months

A week ago we showed that, using Gallup polling data, the crude crush has clearly led to a “spending surge” among US consumers: whereas a year ago all US consumers spent $96 per day, this December, with crude and gasoline prices roughly half off, Americans spent a self-reported whopping, drumroll, $98 per day.

Worse, as is well-known the biggest marginal beneficiary of low gas prices are not wealthy US consumers, for whom the elasticity of gasoline (and crude) prices is irrelevant, but poorer households, those making under $90,000 a year. It is here that the spending spree was an even more unprecedented $1 more, from $84 a year ago to $85.

…click on the above link to read the rest of the article…

 

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