20080926
How did we get into this mess?
Here is another article that caught my imagination. As I read this I could not believe what I was reading. Why do people have to be told these things? We have been saving for retirement for quite some time. We keep our cars for at least 10 years. We did not build the biggest house we could have qualified for (although it will be paid for in 2 years). We do not have to have everything - every new gadget, fashion, or trendy experience to be happy. We do not have to give the appearance of affluence to be affluent (whatever that really means). At the same time we do not deny ourselves very much. Perhaps I would define this as being realistic and living realistically. Setting proper expectations is the key to happiness. I’m sorry but the problems we currently face with the mortgage meltdown and financial collapse is primarily a manifestation of having unrealistic expectations. We have taken a huge and hopefully short lived hit to our savings as a result of the excessive lifestyles, unrealistic expectations, and outright greed of others, but I know we will be alright. I can’t say the same for everyone else because I think they believe they deserve more than they will ultimately obtain from the future. There is a bigger collapse looming than the current market crisis, it is a return to reality from this fantasy many of our neighbors are living. As I drive to work each morning I often wonder how these neighbors of mine afford to keep up the appearance that they strive to uphold. Now that the housing bubble has burst somewhat (I say somewhat since the valuations here have not changed much, only the growth has slowed a bit) we have an opportunity to examine our role in this calamity. I suspect few will take the opportunity to do so but rather bemoan that they are being denied their rights.
Hooda Thunkit said,
September 27, 2008 @ 1800
Joe, or would you prefer “Dr. Joe”? :-]? (Just kidding)
My answer would be that Television and those Marketing folks, along with the Money Lenders are at fault and are deserving of much of the blame.
The rest of the blame rightfully belongs to human nature (Man’s desires and unlimited wants is what separates us from the lower animals, after all) and the lack of what used to be called common sense (I’ve taken to calling “it” uncommon sense, due to its apparent scarcity).
Watch a little TV, and think, “Why can’t I have all of this stuff all of these other people have?” I DESERVE it too! They don’t realize that the magic box is full of lies and stories, mostly of pseudo-reality, and not real life. They are gullible and easily fooled.
Plus the marketing folks have convinced them that they must have every new fad item in order to make their lives complete; much like the car companies try to convince everyone to buy their latest and greatest luxury rides…
Of course, by living within your means and by not being a “fad lemming,” you are not threatened by these recent market gyrations, neither am I, but those poor schlubs who buy into the fantasy marketers pitches are in deep doo doo, and think that it is any body’s fault but their own and that their life sucks, even while surrounding themselves with every luxury (that you can pay for forever, one month at a time).
As for this, “I suspect few will take the opportunity to do so but rather bemoan that they are being denied their rights.”, What “they” see “their” rights, we rightfully see as their privileges; and, therein lies the difference. . .
Living within one’s means and without debt (except for an affordable home and the occasional car) is beyond the understanding most people, these days.