The frugality of ... millions of other Americans who still have their good jobs feed back on the economy, holding down growth and encouraging other worried workers to trim their spending — causing the whole vicious cycle to run another lap.Oh, so because I'm not in the currently dire situation of losing my job I'm causing the economy to stay tanked because I don't spend my money like a fiend? Piss off. Who knows how long any of us have at any job really. Of course I have a bit more to worry about than the average individual since I'm coming up for tenure soon.
Economists say many still-flush consumers are handcuffed by psychological traps that cause them to tighten their purse strings even though economic hardship is not their reality.Sorry, it's not a trap, it's what I call "common sense" and "living within your means". A lot of people thought they had nothing to fear prior to this whole collapse, and look at them. Things take unexpected turns. I'd hardly call it a trap to think that an unexpected turn can happen to me even though I haven't been hit yet. So, I cut down a bit more here and there. It's not that I've ever really been free with my wallet ... except when I first got out of college and wasted money on a 3DO system (what a friggin mess that was). I shop for clothes at Old Navy and Kohl's, not Abercrombie. I don't buy brand name food. I mean, I doubt the chicken I can buy from Wal-Mart is worse off than buying Purdue. And I avoid fads ... which is why I still don't have a Wii or PS3 (though I'm dying for one). So, now that I'm smart with money ... you know, I actually liked buying shares in my IRA at this reduced price ... I'm to blame for the economy staying in the doldrums?
Whatever.
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1 comment:
Right on! I completely agree with you on this.
First of all, if everyone could learn to spend within their means (including corporations), then maybe we wouldn't be in this mess to begin with. Not to mention, buying less crap, means less waste and that is a good thing in my opinion.
Generally speaking, it seems to me that people that are cutting back, are spending less on fringe items. Maybe they aren't buying that new TV since the one they currently have works just fine, or maybe they aren't eating out as much, choosing to stay in instead. I would be surprised if basic need items are feeling the same kind of backlash unless they are one of the most expensive brands.
I think asking people to spend like idiots just because you can is stupid. I will not feel bad for living within a budget and choosing to invest my extra money for retirement. Like you, I consider the current stock prices to be a bargain and I am trying to take advantage of it.
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