John Gerzema: The post-crisis consumer

[crudhousefull]

Hans Rosling would die from the lack of data lol. But I think that he's got a lot of good insight (though maybe a little too optimistic)

[161803]

the US is producing 45% of the world's air pollution? that must be lies: what about China's 1000 ginormous coal-burning power plants? lies!

[crudhousefull]

@161803 China's pollution is just a fraction of the US pollution. The US produces 60% of its electricity using coal power and is continuing to build coal power plants. Things mass media doesn't stress too much huh?

[161803]

@crudhousefull the US is <25% of global economy, so a figure of 45% of pollution is nonsense (the US is *relatively* efficient in $GDP/joule, with a large services economy). US consumption of Chinese products doesn't explain it either--net US imports from China is only 2% of US GDP.

[crudhousefull]

@161803 It doesn't produce 45% of the world pollution. This guy said that the cars in the US produced it too, so it's even more ridiculous. Just arguing against the 'China is the main polluter theory' that media tries to publicize. China leads in air power and has invested the most in alternative energy research, which should be embarassing for the US, but it isn't, it continues to try to wage a propaganda war. (I'm Sri Lankan, but really perplexed why Chinese don't stick up more)

[161803]

@crudhousefull wikipedia states the US generates 50% of electricity from coal compared to China's 68%. Clean energy (solar+wind+hydro+nuclear) is a higher fraction in the US than in China. China is building a new coal power plant every 3 days. China is easily the biggest CO2 emitter. Yes, they have more people, but I'm merely addressing a specific assertion here and not passing judgement on any of this.

[crudhousefull]

@161803 LOL so the internet troll finally did some proper research. Good for you. What I can't believe is that white bastards like yourself can actually talk about countries that started developing only after de-colonization (just 60 years since then!), and try to STOP the development LOL. 'China has more people' HAHAHA...try four times as much retard, and please share with the world how many coal plants the US has planned for this year, selfish, stingy bastards.

[crudhousefull]

@161803 Enjoy the next couple of decades you white bastard. You sure as hell will not be enjoying your fall when Asian economies overtake you then, and it'll be even more 'uncomfortable' when our per capita incomes increase over western ones in the mid 2040s. You'd think that after raping the world for 300 years, you bastards would at least leave it alone...but no...still trying the same old tactics over and over again

[161803]

@crudhousefull what an curious reading of myself, history, et cetera you have cultivated. while i was merely attempting to point out a factual error, i think i should take time to observe how petty nationalists in developing countries can be: india's aircraft carrier, argentinian "malvinas," and even greece has its former republic of macedonia fixation. i'm not a nationalist, not racist, and not in the way of the third world developing. no alexander the great statues here

[crudhousefull]

@161803 I'm not a nationalist lol. Can't help see how brainwashed and bloodthirsty US/NATO/UN are though. Look at what they are doing in the Middle East. Talk to most Asians and they will be against them. Also, look at Africa...the only contient that didn't kick out the white people...you'll find the only countries with negative GDP growths

[audiowiz]

Freakonomics gave too many people the idea to creatively interpret statistics on the whim of an idea. Real analysis requires broad, indepth research. This talk does not have it

[hannahskm]

when it comes down to consumerism.. it's time to bring back quality over quantity

[hotellogin1]

Well, I don't buy it . . . If it's a bottom-line business interest that's causing a company's ethical behavior ... well, then I wouldn't believe a word they're saying. I really recommend everyone to inform themselves about the PR industry. Hugely interesting.

[bobojr456]

this guy throws around a bunch of random statistics and mislead you...for example

gun sales are up due to fear that the obama administration will bring gun control...has nothing to do with the recession.

[soundofgeek]

Gun sales are up due to fear; this is perfectly compatible with Gerzema's talk.

[jasonlajoie]

His optimism for our future is...nice. All of his examples of intelligent consuming are derived from a minority of the U.S. population.

[ImOnTheTube]

Well, the reason of our "good" behavior right now is because we crossed the limit. Sort of like a child upsetting its parents and not getting itself into trouble for the remainder of the day. But our society, much like the child, is unstable and soon looses the concept of "good behavior" eventually returning to making the same mistakes over and over.

If capitalism returns to its previous state it means that the people returned to their consuming and arrogant ways.

[PremierSullivan]

Hey, has anyone noticed a change in the quality of the video stream? I seems like for the last couple months in all TED talks, when the image switches to the slide show, it freezes for about 5 seconds. Sometimes the slide show image is corrupted too.

Am I the only one with this problem? It really makes TED talks difficult to watch.

[JohnnyTaco01]

I noticed that to....wonder if it is something that can be fixed...Suggestions?

[kbillysupersounds]

Typical consumers did not "lead us into recession."

The whole shebang was brought about by idiot economists and marketers making predictions based on false premises.

[GrimSoul66]

Shark attacks are down because the aisans are eatting them all. Not because people don't go to the beach..

[invisiblebears]

Mmmm.. Shark.

[upcycle]

Nah.. I think shark attacks are down because people are watching youtube videos more than before.

[planetdarwin]

PS - The reason more people have library cards isn't because they're more curious, it's because in the late 90s nobody was going to libraries, so libraries were forced to become essentially DVD rental warehouses for the poor or stingy. Go to the library and see how many are actually checking out books, versus how many are playing internet games or renting "Air Bud 2". It's not as encouraging as this guy makes it seem.

[jasonlajoie]

I thought the same exact thing. If they're not checking out movies they're playing video games on the computers provided. He's living in a fantasy land of optimism depending on a more intelligent and responsibly comsuming populous. We ain't gots it.

[planetdarwin]

The generation that is 40-60 years old right now stole from their children by living luxurious, indulgent lifestyles, and by continuing to demand privileges that must be paid for by their children (who cannot afford them). People need to admit their selfish actions and live a more realistic lifestyle. Do you realize that most of what you take as "necessary for security" is actually just surplus and comfort?

[putittogether]

Is it just me or have we seen TED shift from an objective look at the best professionals in their fields of Technology, Entertainment, and Design to a political mouthpiece?

I must say I am concerned for the future of this org

[upcycle]

they definitely seem to be going through a transition.. And they have added a bunch of new TED talks.. TEDmed TEDindia, etc.

[informedskeptic]

I haven't seen a topic spun so fast in a long time. Depression - good? Consumption - Bad? Too bad our economy is mostly based on consumption. How about the government's consumption?  What is their savings rate at?

[ineffige]

well actually if consumers were saving more than spending we would have avoided depression. Of course FED policy encouraged the opposite.

[JoeyFudd]

These pseudo-intellects play with words, because they can't see the facts clearly. Lazy thinkers say consumers "deleverage, unwind their leverage," like he did at the outset. Someone told him that, so he repeats it. The dummy doesn't know it just means that they pay off their debts more, such as credit cards, car loans, house loans. If he knew that, he would have said it at the start, since it suits the audience better. Think things not facts for greater understanding. He doesn't earn attention.

[melodyroseparker]

Very informative and erudite video. Thanks for sharing this most important information.

[DonVoghano]

FFS blaming consumers is the last drop! People have been encouraged to get into debt and spend by all kinds of means, their purchasing power has been dropping for 30 years and now it's our fault?

[Kargoneth]

Banks lending money they don't have... governments printing money they can't backup... CEOs of corporations using bailout money to buy new multi-million dollar private jets with cushy furniture and giving the finger to the people the money was meant to go to... fun and games.

[guslingus]

They ought to study history and how far the Russian Czars pushed it before they got bitten

[Kargoneth]

Banks are greedy... they shouldn't give people mortgages for houses when they know the people won't be able to keep up payments.

[BriskAxe]

That last thing about Stockholm is such bullshit on their government's part.

Taxing people to enter the main city. What a load of horse shit.

That's worse than bridge tolls in the US.

[bmed19]

needs over wants? wtf are u dumb? coorporattions can only provide wants. just b/c we buy less it dont mean we are now only buying what we need. we are fucking buying waht we can afford. when we all have library cards its cause we cant buy the books we want and can oly rent them. like i said: we aint buying any better, just different.

if anything this talk shows companies how to make money off ppl who can afford less. not b/c it makes a better world. pshhh.

[wevenhuis]

Too bad the last remark was called in terms of consumer trend, as this has a sense of a temporary establishment. Otherwise it would have sound believable, hopeful with little remark of a commercial aspect of this talk.

[elboertjie]

Rather watch 'Peter Schiff' to get a more accurate view than this misinformation of this TEDtalk.

[elboertjie]

"13 trillions of wealth has evaporated...'

That was not wealth, that was an illusion built with fiat currency.

[globalbankfraud]

Nice talk BUT the consumer's savings will soon be worthless with the Trillions of $'s the FED has been printing and giving to their buddies on Wall St, Strange how Goldman Sachs & JP Morgan financed Obama's campaign then received astronomical sums for their failure & corruption The Fed is unconstitutional & privately owned, they print money out of thin air which you have to pay for in taxes. Even though it's your money you have to pay them interest, go figure!

[chairde]

You simply do not know what you are talking about.

[SchinTeth]

Watch the entire video...the stockholm ad is cool

[Maxstate]

Hahaha!

Remember when I said "blablabla free market" and everyone jumped on me?

Oh good old days

[PapaDeltaRomeo]

This is the first TED I have seen which I disagreed with many points. I have been researching this field and it doesn't follow what he is saying.

[k0ga777]

i agree on both points this doesnt seem like TED to me

[MorganStack]

America, America, America. If you live elsewhere this talk is pointless...

[Vitaliiii]

Well the data is all american, however the ideas can apply to international and multinational corporations all around the world.

[Lordsuhn]

Who is this guy?

[TruthSpeaker1010]

Ted has actually become very disappointing over the past 6 months or so.

Thanks for all the plugs and then blaming the "consumer" for the ecomonic crisis. Not Barack Obama continuing to steal tax payer money to bailout of the "too big to fail".

[Prytanus]

Obama didn't cause the conditions that led to the bailout in the first place.

Whether you agree with the bailout or not, you'd be insane to accuse Obama of creating the situation that the bailout was meant to salve. That would be like saying that President Truman caused World War 2...

So, since Obama didn't cause it, who did?

The answer is most likely: the American consumer. Do you have a better candidate?

[coltrane1966]

Didn't Obama take Freddie & Fanny to court to force them to give loans to those they would rather not, when he was a lawyer?

I believe this was part of the Community Reinvestment Act.

[Prytanus]

So you don't have a better candidate, then? Hmm, that's too bad for your argument.

I see you also seem to think that one court case dealing with those two institutions caused the ENTIRE problem, all the way back to the mid 1980s.

I know that I can't persuade you to change your mind. Judging from the psuedo-facist symbol on your page, and your imperviousness to reasonable observation, I will have to appeal to the readership of these comments to decide for themselves whether Obama is the cause.

[coltrane1966]

Hold on old chap! I never said Obama is the entire cause, only stating that he hasn't exactly helped. the list of those that caused the problems is very long and goes back very long, long before Obama. The best president would most likely have been Ron Paul, although I don't agree with everything he believes, such as metallic based currency.

PS. I find fascism repulsive!

[Prytanus]

Forgive me if I over-reacted. Your posts certainly implied that Obama was the main or entire cause of the problem.

As a Ron Paul supporter, you are likely a libertarian. I understand your disagreement with Obama's Keynesian measures, and I can certainly see why you would be opposed to the bailout.

But that opposition to his methods shouldn't lead you to conflate those methods with the cause of the situation they're attempting to remedy. That's political dishonesty.

Cheers.

[Mansa28]

LOL..elaborate

[Prytanus]

Quoi? Elaborate on your request to elaborate.

[TruthSpeaker1010]

another opportunist refering to tragedy as "opportunity" and taking his "opportunity" to push Obama Deathcare at a Ted Talk.

real nice.

boooooooo

[kid29a]

I hate when somebody calls people "consuers" as if homo sapiens stopped developing at gastrula stadium.

[roidroid]

Did you see how many companies he plugged during the talk?

How many of those companies do you bet are clients of Young & Rubicam?

There's no way of telling how much of this talk was bullshit, it's possible 100%.

This is tainted milk, don't drink it.

[Atoyota]

This guy is laughable, "the consumer lead us into this crisis?" who is he kidding?

They are de-leveraging, but that's not saving, that's paying down debt. They are in retreat, and so is the economy as a result. The vicious cycle....

Some of what he talks about is both true and good, but the problem is still out there, the elephant is still in the room. Finance and banking are still blowing bubbles, and markets will force the truth on everyone, as main-street collapses, so will wall-street.

[organdva]

The most laughable ''invention'' of capitalism is ''the team building''. It is like saying: ''you only need to fallow your own interests but don't compete too much''. In other words, you need to pass that ball.

Sadly, most of the TED talkers (and commentators) have good observations but wrong  conclusions. I know you are waiting for this ;)

The conclusion is democratically run workplace or libertarian socialism.

[flyhead2]

The first thing to do is to mistrust anyone referring to people as 'consumers'.

I distrust this guy as much as I distrust any other politician or spin-doctor.

[TruthSpeaker1010]

right on

[roidroid]

Disclaimer:

The guy giving this talk - John Gerzema is "Chief Insights Officer" at Y&R (Young & Rubicam) Brands.

Young & Rubicam, Inc. (Y&R) is a marketing and communications company specializing in advertising, public relations, sales promotion, direct marketing and brand identity consulting.

Basically this is a talk by a professional bullshit artist, and you should be wary of what you believe from it.

Misleading and lying to the mass public is this man's JOB DESCRIPTION.

[jgizzy]

The dead bull (Merril Lynch's "mascot") represents the death of big banks and elite stronghold and subsequent liberation of the citizens.

[alcany]

I will follow you anywhere Bruce Willace!

[captcaveman4201]

this is a terrible ted talk.. i am seriously thinking about unsubscribing.. it is turning out to be nothing more then a huge waste of time and effort..

[proxy4718]

YES! i get to build a my own house with little to know machinery and get to raise livestock! i've always wanted to get away from having a real future and living a serf's life.

[LiquidFriction]

Since working the 8-5's in a big city, sitting in traffic every morning and working in a cubicle is a real future right?

[BlackFlagParty]

I'm two and a half minutes in and already I wouldn't trust this guy to put change in a parking meter for me... what a shill for the status quo.

[themindminder]

Shark attacks down because there is 'Nobody' at the beach??? i have really come to expect better from TED talks. Most TED talks leave me feeling inspired and enlightened, with this one I feel like I just wasted 10 minutes listening to rhetorical properganda paid for the the US FED.

[bmed19]

ppl are just buying different, not better.

[wolffenhaus]

TED should respond to comments.

[niniomigrania]

Im not impressed... at all.

[code933k]

I am very sorry if this hurts your sensibilities but this is pure and transparent bullshit!!

[bmed19]

in wut way?

[CHumga]

please elaborate.

[code933k]

Thanks for asking so gently CHumga@, I'll try to elaborate: There is not even data to confront... And this guy is trying to push us on a "psychological analysis of masses" (method disproved about 100 years ago) concerning tendencies of consumerism in a "post"crisis era, as if rising the bar of real production for stabilising artificial money was so easy.

This sounded more as indoctrination class 101. Or just good wishing presented as a fact. All about Gerzema's imagination. Bullshit anyway.

[grraadd]

post.......... ?

Ha ha - "consumer drove us", and FED was just uninvolved third party.....

People do wise thing to save money, but they save in dollars printed by FED like crazy. So through inflation their saved dollars are stolen thank to government!

Buy gold (still very cheap) and silver if you want to survive Greatest Depression in history of the World.

[HiAdrian]

In my book, someone using the word "consumer" as the center of his model, can go fuck himself right away.

[ravishethwala]

I need final video.... is market going to get better next year or not?????? I need job.....enough of these awareness video!!!!

[lomi1]

Good charts & really inspiring !

[CantBlockProxies]

Pointless, meaningless rhetoric. Thanks for wasting my time.

[paganiniGOGO]

you're right completely pointless.

[paganiniGOGO]

That's weird. I got 3 thumbs up for agreeing with a comment that got 6 thumbs down. This is going in the books.

[zassounotsukushi]

what about the demographic effects on the savings rates?

Borrowing from the fed presented as 'leverage' is misleading.

I've done agro-tourism lately :D

It seems kind of unfounded to chalk up the movement towards buying local when the recession has boosted Walmart sales. Well, it's killed box stores. Doesn't mean local buying did better.

Consumers can only drive us in a new direction if industry is willing to retool. Many areas are going in the opposite direction - like health care.

[pboisei]

right. and some of these moves are just empty gestures.

[pboisei]

i still don't trust the corporates.

[Shaunt1]

I was never apart of America's leveraged lifestyle and anything of the good things people are doing now I've always done.

[btwbrand]

Wealth isn't a finite numeric value. It's an intangible amount created by a persons mind. That said, as an individual, my idea of worth has changed dramatically in the past two years. No longer does it revolve around things I can buy. No longer am I a gross consumer. I have more time to enjoy the things I have rather than working away my time to buy what i won't use. Would do everyone some good to spend more time looking inward and starting changes with the self.

[d3v07]

Welcome to socialism.

[pboisei]

come on there must be some balance, i think ultimate capitalism is just as bad as ultimate socialism. history has shown this

[paganiniGOGO]

there has never been a socialist experiment in the world that was not destroyed or corrupted.

[swedishjames]

Not true

[paganiniGOGO]

Swedishjames- 'Not true', yet you don't give an example.

carnut666 - "removing the means of production from the people and giving it to the few"

That's actually the antithesis of socialism.

You sound like you've never read a word on the subject beyond anything from the corporate media.

Chumga- well said.

if you cared about humanity you'd be thinking of how to help it, an easy solution would be to tax the top 1% of Americans at 50%. You would have enough money to save the lives of millions.

[CantBlockProxies]

Paganini is the shit. Mozart, Liszt, and Bach are my favorites though.

[DSBrekus]

You do realize that every government on earth has socials elements don't you? It's called taxes, and the things they are spent on.

[pboisei]

i think the utopian socialist world can never exist but equally the utopian capitalist one too because it relies on all people doing whats "Good" or "right" they both do in reality there are always bad people out there.

[CHumga]

That's just saying humanity is a broken corrupt race and the only way we can survive is by resorting to a dog-eat-dog-world a.k.a capitalism.

[carnut666]

grow up. the only way to succeed long term in a capitalistic society is to provide a service to as many people as possible, at the best price and keep them happy while you do it. other wise you dont profit. hardly dog eat dog.

whats your alternative? communism? removing the means of production from the people and giving it to the few who think they know the market (ie society) better than the market itself.

[sdpgposd]

cool