Comments on: Why the Recession Will Be Good for Us as a Country http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/ Helping a unique generation achieve financial independence. Thu, 24 May 2012 01:09:21 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Mack jackson http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-121906 Mack jackson Fri, 11 Sep 2009 06:52:47 +0000 http://genxfinance.com/?p=965#comment-121906 Great post, i totally agree that recession is good for us, according to me we all know that saving money, spending limited money are very much essential points for our financial security but still we don't follow it. Recession is the way by which we all can learn how to save and spend without any tutor for that. Great post, i totally agree that recession is good for us, according to me we all know that saving money, spending limited money are very much essential points for our financial security but still we don’t follow it. Recession is the way by which we all can learn how to save and spend without any tutor for that.

]]> By: Ken http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-102363 Ken Sun, 18 Jan 2009 13:11:00 +0000 http://genxfinance.com/?p=965#comment-102363 I couldn't agree with you more. Our society has been on a spending spree for the last decade and has adopted the 'gotta have it now" mentality. Many of those folks are having to bite the bullet for the first time. For some biting the bullet means losing their homes. It is a truly difficult time we live in and I hope we as Americans don't forget the lessons we are learning. Great stuff! I couldn’t agree with you more. Our society has been on a spending spree for the last decade and has adopted the ‘gotta have it now” mentality. Many of those folks are having to bite the bullet for the first time. For some biting the bullet means losing their homes. It is a truly difficult time we live in and I hope we as Americans don’t forget the lessons we are learning.
Great stuff!

]]> By: Relieved http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-100785 Relieved Fri, 09 Jan 2009 17:03:36 +0000 http://genxfinance.com/?p=965#comment-100785 How refreshing. I actually had to search to find an article about why this situation is good. American overspending created the feel-good false economy we had. I just hope we have the guts to take responsibility for the problem we created in this generation, not force it on our kids. We're leaving them with a big enough mess already. I don't see buying lower cost dog food as a real sacrifice. I mean, living with your parents, taking in borders, doing what it takes to reprioritize. Sounds like we are still too used to living in luxury and on our own terms that we can't accept responsibility. What goes up must come down. How refreshing. I actually had to search to find an article about why this situation is good. American overspending created the feel-good false economy we had. I just hope we have the guts to take responsibility for the problem we created in this generation, not force it on our kids. We’re leaving them with a big enough mess already. I don’t see buying lower cost dog food as a real sacrifice. I mean, living with your parents, taking in borders, doing what it takes to reprioritize. Sounds like we are still too used to living in luxury and on our own terms that we can’t accept responsibility. What goes up must come down.

]]> By: Frank http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-100453 Frank Thu, 08 Jan 2009 01:23:30 +0000 http://genxfinance.com/?p=965#comment-100453 Unfortunately, what you call Americans saving more and spending less actually seems to be lenders lending less and forcing consumption down. I think if you wait some time you may see consumer debt on credit cards climb as people try to live within the same standard of living. The current cut in spending is a forced savings plan that will not last forever. Unfortunately, what you call Americans saving more and spending less actually seems to be lenders lending less and forcing consumption down.

I think if you wait some time you may see consumer debt on credit cards climb as people try to live within the same standard of living. The current cut in spending is a forced savings plan that will not last forever.

]]> By: Jenn http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-100251 Jenn Tue, 06 Jan 2009 16:52:32 +0000 http://genxfinance.com/?p=965#comment-100251 Like a voice in the dark, this post addresses what others are glossing over - the consumerism of American has got to be dialed back. Maybe what we (you/I) take as common sense, others have obviously not been doing so it is a novelty for them. America cannot continue encouraging spending on everything NOW and hoping Social Security will be around for later. Our savings rate is deplorable. But marketing and economy professionals keep telling us to spend, spend, spend to help the economy. When will the message be, spend wisely today and save for tomorrow. When retail numbers are released later this month, the moans from main street to wall street will be loud. But, it's just a correction in the overspending glut that American's have been living on since we decided that waiting was for everyone else. Like a voice in the dark, this post addresses what others are glossing over – the consumerism of American has got to be dialed back. Maybe what we (you/I) take as common sense, others have obviously not been doing so it is a novelty for them. America cannot continue encouraging spending on everything NOW and hoping Social Security will be around for later. Our savings rate is deplorable. But marketing and economy professionals keep telling us to spend, spend, spend to help the economy. When will the message be, spend wisely today and save for tomorrow. When retail numbers are released later this month, the moans from main street to wall street will be loud. But, it’s just a correction in the overspending glut that American’s have been living on since we decided that waiting was for everyone else.

]]> By: the weakonomist http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-100232 the weakonomist Tue, 06 Jan 2009 13:32:23 +0000 http://genxfinance.com/?p=965#comment-100232 The problem with Americans saving more is the lack of consumption associated with it. The way our economy works right now relies on consumption. But I don't have a problem with that. The problem is Americans keeping all their money in cash and not investing. Though everyone here probably understands the importance of dollar-cost-averaging, most Americans do not. Our economy will not be able to move forward until we start investing again. I've had to talk parents and relatives out of pulling their money out of stocks completely on many occasions. I hope the author is right in that this recession will be good for us. The problem with Americans saving more is the lack of consumption associated with it. The way our economy works right now relies on consumption. But I don’t have a problem with that.

The problem is Americans keeping all their money in cash and not investing. Though everyone here probably understands the importance of dollar-cost-averaging, most Americans do not. Our economy will not be able to move forward until we start investing again. I’ve had to talk parents and relatives out of pulling their money out of stocks completely on many occasions.

I hope the author is right in that this recession will be good for us.

]]> By: Jason from MoneyTheory http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-100201 Jason from MoneyTheory Tue, 06 Jan 2009 08:49:04 +0000 http://genxfinance.com/?p=965#comment-100201 I really like your points about the media's focus on this "news" of saving. Just like you mention, it really is mostly just common sense instead of some amazing new revelation. I think that overall, many people who have trouble with savings should sit down, spend a few hours, and just do a deep dive into their finances. With just a bit of analysis, they should be able to see many opportunities for savings they may not have thought about before. I really like your points about the media’s focus on this “news” of saving. Just like you mention, it really is mostly just common sense instead of some amazing new revelation. I think that overall, many people who have trouble with savings should sit down, spend a few hours, and just do a deep dive into their finances. With just a bit of analysis, they should be able to see many opportunities for savings they may not have thought about before.

]]> By: Four Pillars http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-100180 Four Pillars Tue, 06 Jan 2009 05:10:57 +0000 http://genxfinance.com/?p=965#comment-100180 Very good post - you are correct in that some of the so-called frugality is not really all that frugal. Good pun in the title... :) Mike Very good post – you are correct in that some of the so-called frugality is not really all that frugal.

Good pun in the title… :)

Mike

]]> By: RobG http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-100157 RobG Tue, 06 Jan 2009 00:54:33 +0000 http://genxfinance.com/?p=965#comment-100157 Agreed there is good to come from the current recession. We are already seeing more responsible lending and borrowing happening directly via social or P2P lending. Agreed there is good to come from the current recession. We are already seeing more responsible lending and borrowing happening directly via social or P2P lending.

]]> By: GE Miller http://genxfinance.com/why-the-recession-will-be-good-for-us-as-a-country/comment-page-1/#comment-100156 GE Miller Tue, 06 Jan 2009 00:33:13 +0000 http://genxfinance.com/?p=965#comment-100156 I agree that the recession will be good, provided a few things: 1. The Dow doesn't drop below 8K again - if it doesn't, more panic will ensue, and it will take a decade or more to rebuild lost value. 2. Major financial reform is strictly policed. 3. We can diversify with new economies to get people back to work. 4. Inflation doesn't pass 5% annually. I agree that the recession will be good, provided a few things:
1. The Dow doesn’t drop below 8K again – if it doesn’t, more panic will ensue, and it will take a decade or more to rebuild lost value.
2. Major financial reform is strictly policed.
3. We can diversify with new economies to get people back to work.
4. Inflation doesn’t pass 5% annually.

]]>