It was quite interesting to read in newspapers how Paris Hilton plans to save not only the American economy from the worst recession of several decades, but she wants to save the world economy. Commendable planning, especially in view of the fact that 500,000 Americans had pink slips in January 2009 alone as per the consensus estimate of economists surveyed by Briefing.com.
Paris Hilton’s plan to save the world economy is very simple, by shopping more and spending more. The heiress said that her income remained unaffected even during the current global financial crisis. Paris Hilton also said that many promoters were still paying her thousands of dollars just to make appearances at certain nightclubs. The news reports further said that Hilton is adamant that she can give the retail industry a big boost by continuing her excessive spending spree.
“It is really scary about the economy right now. So I’m playing my part in helping by doing a lot of shopping wherever I go”, she said. Most of her fans might remember that she had earlier pledged to help the American economy by vowing to wear only clothes designed by US fashion designers.
From the point of view of economics, it makes sense. Suppose everyone saves by spending less, it will be bringing in a serious economic crash-landing, because without sales no business can exist. In that event the sellers will have to adopt harsh measures like cutting down on employment, pay lesser salaries and reduce overheads. That further restricts circulation of money and hardship for individuals at one hand, and unutilized, dead savings on the other hand. Don’t you think so? So, Paris is right!
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