Now I remember why I dropped Econ 101. Trying to understand all this makes my head hurt.
I can’t help feeling though, that another depression is inevitable. I know, be careful what you wish for, but I can’t help thinking that America would be a better place if the current out of control consumer mentality came to a screeching halt. I enjoy living a fairly simple lifestyle, but sometimes feel out of place around my friends/acquaintances who are all caught up in their expensive cars, clothes, shoes, watches, sunglasses, TV’s, etc. etc… I’d prefer to be around people who are content just to have their needs met, and are able to truly appreciate the occasional splurge.
My focus right now is on paying down my mortgage and getting at least a years worth of living expenses stashed in the bank. If the economy does crash, I want to be as prepared as possible. Does anyone believe that another Depression is inevitable, or can an economy continue to expand indefinately?
