Hi, Guest
06-03-2007, 07:35 AM
Not sure how old you are Aka. And I'm not quite an "old man".
The truth is though I've been through a stretch of bad economy in my life, and there's something that I see a lot of sub-35 year-olds, especially those that I work with, that never been through true tough times and seem to think that we're talking out our asses.
I remember back in the late 80s when I had to park the car in the middle of an industrial complex (because I needed to save the gas), walk door to door with a stack of resumes looking for work with a college diploma.
We've been in an extended cycle of good economic times; yet a lot of people have still overextended themselves and live paycheck to paycheck. They've put nothing away even though they still live in their parent's basements, have 3 computers, 2 cars (neither paid for) and a 50" plasma screen and feel that because the bank is willing to lend them more money that they're in good shape financially.
I don't wish hardship on anyone, I'd like good times for plenty of years to come. We can all make statements like "someday there's be a depression" etc. and yes of course there will be. And periods of prosperity will follow. The question is, "Are you ready?"
Ask those that were teens in the late 50s, early 60s. They were in the same boat. A long period of relative economic boomtime. A lot of those same carefree "flower children" literally walked away from homes bankrupt in the 70s when the interest rate skyrocketed to almost 20%.
Can it happen again? What do you think?
The truth is though I've been through a stretch of bad economy in my life, and there's something that I see a lot of sub-35 year-olds, especially those that I work with, that never been through true tough times and seem to think that we're talking out our asses.
I remember back in the late 80s when I had to park the car in the middle of an industrial complex (because I needed to save the gas), walk door to door with a stack of resumes looking for work with a college diploma.
We've been in an extended cycle of good economic times; yet a lot of people have still overextended themselves and live paycheck to paycheck. They've put nothing away even though they still live in their parent's basements, have 3 computers, 2 cars (neither paid for) and a 50" plasma screen and feel that because the bank is willing to lend them more money that they're in good shape financially.
I don't wish hardship on anyone, I'd like good times for plenty of years to come. We can all make statements like "someday there's be a depression" etc. and yes of course there will be. And periods of prosperity will follow. The question is, "Are you ready?"
Ask those that were teens in the late 50s, early 60s. They were in the same boat. A long period of relative economic boomtime. A lot of those same carefree "flower children" literally walked away from homes bankrupt in the 70s when the interest rate skyrocketed to almost 20%.
Can it happen again? What do you think?
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