Every time I write on the subject of our "economy of consumption," I get loads of e-mail. It's already coming in this hour, in response to today's column. Here's just one, quick example. (If you want to add something, please post to this blog. I am happy to get e-mail letters and comments, but it's best if you just go ahead and post here, for others to read more immediately.)

From Rob in Bel Air, Md.:

I've always been a money "saver," sometimes called cheap, but I saw this collapse coming several years ago.  I was often criticized for not spending, but I am in a pretty good position now, better than most my age I think (I'm 39).  My wife and I just moved to Bel Air from Parkville, and were able to take advantage of housing price decreases, and still sell our house at a profit since we purchased in 2003. 

In recent years I was always shocked at the way people were spending, and how Wall Street reacted to quarterly earnings. I believe the pressure on companies to continually grow and meet Wall Street expectations, is one factor in this mess.  Management is so shortsighted, they are so focused on meeting Wall Streets expectations, there is no room for long term thinking and planning (See Ford, GM, Chrysler). 

I don't know how bad this correction is going to get, but I fear we have only seen the beginning, and this thing will play out over several years, not months, as many analysts will try to tell you.

Here's another:

Companies and corporations are run by  greedy shareholders, they want the biggest bang for their buck. . .   so no new jobs. We will build it overseas where labor is $2 a day,  Even now, the Big 3 complain about what? as their major cause for problems? US! workers wages are too high, benefits.  All the companies want to downsize and outsource jobs so they don't have to pay us.
Housing prices were falsely inflated because their were millions of people receiving loans that should not of been allowed to have a credit card, but greed again takes over and everyone made lots of money all the way along, banks, lenders, Realtors, builders and associated companies.  Now they cry poor when the bottom falls out.  An average house price was $48K 30 years ago, now it is 10 times that.  My pay has not increased 10 times.
 
During the campaign they talked about people who made $250k a year!?   I am 54 years old and have only made $375K in my life!  No savings, no home or new car.  I am a steel fabricator, I have worked since I was 14 years old.  Most of the companies I have worked for have long since closed.  I was making $20 an hour, no insurance other wise I would have to take a cut in pay, and yes I screwed myself.  On my way to work at 6 am April 4, 2008.  Riding my motorcycle (gas prices) A driver coming from the opposite direction on York Road decided that I was not there and mad a left hand turn and ran me over.  The left front tire of the vehicle went across my body from my left leg, pelvis, chest and shoulder.  Leg snapped, broke back, every right side rib broken, collar bone, shoulder, shoulder blade, brain trauma.  In a coma  for two weeks, hospital for two months.  Have not been able to get medical assistance for aftercare or physical therapy. Now I am 200K in debt.  But what really burns me is the person who ran me over was driving an uninsured motor vehicle, he did not have a MD drivers license and his out of state license was suspeneded...I called the prosecutor;s office because I was bedridden and had no way to go to the hearing the man had.  I explained to her the damages inflicted on me, that I wanted the judge to realize that this individual just didn't get pulled over for driving without a license.  He ran ME over and I will never be able to use my right arm again and can barely walk.....a week later I get a letter stating that they decided not to prosecute! . . .  I did not see that coming either
 
Everyone says that certain minorities work jobs Americans do not want, well we will probably see the situation come to a head when millions are out of work and they are competing against illegal aliens for their families food.  Everyone cries the blues for them now, but the hatred will increase when they start taking food out of our mouths...then what will happen?  Maybe you will get to write another story of How we should of seen that coming too.
 
Sincerely,
 
William John Rumbos Jr.