January 2nd, 2009
08:33 AM ET

Shop or else

Ben Stein tells Anderson Cooper that if you can afford it, now is the time to shop.

Filed under: Economy • Finance
soundoff (7 Responses)
  1. theresa, CA

    Shopping is not the answer to the nation's/world's problems, and the right is naive to think it will ultimately help. However, if they want people to shop, why not institute a consumer bailout in the form of credit card debt amnesty? That's a sure way to get people in the stores.

    Shopping is not entertainment, and we shouldn't fuel our addictive spending habits by encouraging those who do not have the money to buy more stuff that they don't need. I hope Obama will continue to promote volunteerism, which would be a better, less expensive method of entertaining ourselves.

    January 2, 2009 at 12:51 pm |
  2. Heather,ca

    Funny he should say this. This is exactly what Bush said after 9/11. Shop spend money. Now look what happened. Here we are. Im paying for my credit card spending now. By taking my money and paying off the bills.

    January 2, 2009 at 12:44 pm |
  3. GF, Los Angeles

    I agree with Ben Stein that the uppercrust who still has a lot of wealth should continue spending. The middle class don't have the type of liquidity they do. We cannot afford to spend money that we are making rather we now need to start saving it like we should've been doing in the first place.

    January 2, 2009 at 12:05 pm |
  4. Jesse DeChurch

    Ok, Now that half of the 850 billion less the 150 billion in pork to get the Right Wing to vote on the package has been distributed to Wall Street with no obvious impact to our economy. Should we consider distributing the remaining 350 billion to the American taxpayers? First, it is our money 2. We will spend it the day we receive it thus stimulating the economy. As Ben said we should spend, spend and I believe he is correct. If we had the money we would indeed spend it if not save it, but that would be at out local bans, again unfreezing the credit crisis. Lets try the Trickle UP economics approach!
    I wonder why the government has not thought of this approach. Give the people their money and let the Corporations, Wall Street and CEO borrow it instead of giving it to them and making us borrow it. Heck, it has not yet trickled down to the local level for the American people too borrow, and I wonder if it ever will. I was just wondering Cooper! Jesse

    January 2, 2009 at 11:56 am |
  5. Teresa, OH

    I think anyone earning over $500,000 a year should definitely be out there spending it. The truth is the working class cannot afford to spend one extra dime. All you rich folks should go out and splurge some more on yourselves.... your designer cars, homes, water faucets, clothes with pretty labels, special foods for you and your dogs, comfy furniture and give all your maids and dogwalkers a raise.

    It's time for the rich to keep the economy going as the working class poor has carried their arses for centuries.

    And I seriously doubt, as some authorities on the economy believe, that any well off person would DENY themselves any desire of their heart due to "guilty" feelings of having money and others being in need.

    January 2, 2009 at 11:20 am |
  6. Max

    Yep – that is TRUE. Buy things for the NEEDY???? If you have too MUCH already????


    January 2, 2009 at 11:16 am |
  7. Tammy, Berwick. LA

    Usually I agree with Ben Stein. This time, I'm not so sure. Right now, things are o.k. I have money to spend and save. My debts are minimal. I'm one that on the surface looks really great financially. However, my job contract runs from year to year. Nothing is a guarantee even if it appears to be fairly secure. Everyone I talk to is sort of in the same boat, just holding out to see what happens in 2009 with the economy, with our jobs, with our lives. My financial planner tells me to ride this out, that I'll be all right in the long-term, but there's that really scary interim. I think I'm holding on to every penny I can until it gets better. I am not alone in the thinking on this one. This consumer is keeping what is hers.

    January 2, 2009 at 10:55 am |