I think it is for the better that we have to cut our consumption. The American consumerism is way out of control. I think as a nation we probably could cut 20-30% of our spending and our quality of life probably won’t be greatly affected.
For example, my sister just bought her latest LV bag for $1500. It is one of 7 bags (Mostly LV and Chanel) she bought in the last 5 years. She has 5 big boxes of clothes in the garage. She is also thinking about trading in her 2004 Lexus for a bigger and newer one.
If there is a depression coming, I don’t worry too much about it. It is way over due.
