Home › Forums › Financial Markets/Economics › This just makes me sick…
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barnaby33.
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February 25, 2008 at 1:59 PM #160070February 25, 2008 at 2:52 PM #159701
bsrsharma
ParticipantThis does not bode well for the future of this country whatsoever.
This guy takes out $10K loan from his own 401(k) account.
We the people, have borrowed , $30K, for every man, woman and child in the nation, from future generations*. This does not count promised entitlements.
Which of the two should make you sick & awful?
* 9 Trillion divided into 300 Million souls.
February 25, 2008 at 2:52 PM #159999ParticipantThis does not bode well for the future of this country whatsoever.
This guy takes out $10K loan from his own 401(k) account.
We the people, have borrowed , $30K, for every man, woman and child in the nation, from future generations*. This does not count promised entitlements.
Which of the two should make you sick & awful?
* 9 Trillion divided into 300 Million souls.
February 25, 2008 at 2:52 PM #160013ParticipantThis does not bode well for the future of this country whatsoever.
This guy takes out $10K loan from his own 401(k) account.
We the people, have borrowed , $30K, for every man, woman and child in the nation, from future generations*. This does not count promised entitlements.
Which of the two should make you sick & awful?
* 9 Trillion divided into 300 Million souls.
February 25, 2008 at 2:52 PM #160016ParticipantThis does not bode well for the future of this country whatsoever.
This guy takes out $10K loan from his own 401(k) account.
We the people, have borrowed , $30K, for every man, woman and child in the nation, from future generations*. This does not count promised entitlements.
Which of the two should make you sick & awful?
* 9 Trillion divided into 300 Million souls.
February 25, 2008 at 2:52 PM #160095ParticipantThis does not bode well for the future of this country whatsoever.
This guy takes out $10K loan from his own 401(k) account.
We the people, have borrowed , $30K, for every man, woman and child in the nation, from future generations*. This does not count promised entitlements.
Which of the two should make you sick & awful?
* 9 Trillion divided into 300 Million souls.
February 25, 2008 at 3:32 PM #159721kev374
ParticipantA point to note is that our government HUGELY discourages savings. Look at the interest rates, they are lower than inflation. There is no incentive to save. And the message is SPEND SPEND SPEND, even if you have to use the credit cards. And the current laws make it ridiculously easy to walk away from obligations.
February 25, 2008 at 3:32 PM #160019ParticipantA point to note is that our government HUGELY discourages savings. Look at the interest rates, they are lower than inflation. There is no incentive to save. And the message is SPEND SPEND SPEND, even if you have to use the credit cards. And the current laws make it ridiculously easy to walk away from obligations.
February 25, 2008 at 3:32 PM #160034ParticipantA point to note is that our government HUGELY discourages savings. Look at the interest rates, they are lower than inflation. There is no incentive to save. And the message is SPEND SPEND SPEND, even if you have to use the credit cards. And the current laws make it ridiculously easy to walk away from obligations.
February 25, 2008 at 3:32 PM #160036ParticipantA point to note is that our government HUGELY discourages savings. Look at the interest rates, they are lower than inflation. There is no incentive to save. And the message is SPEND SPEND SPEND, even if you have to use the credit cards. And the current laws make it ridiculously easy to walk away from obligations.
February 25, 2008 at 3:32 PM #160115ParticipantA point to note is that our government HUGELY discourages savings. Look at the interest rates, they are lower than inflation. There is no incentive to save. And the message is SPEND SPEND SPEND, even if you have to use the credit cards. And the current laws make it ridiculously easy to walk away from obligations.
February 25, 2008 at 4:05 PM #159731San Diego Native
ParticipantTotally agree about the save/spend psychology going on. Again, sad.
I also believe a lot of our behavior as a society comes from the way we were brought up. My parents didn’t buy anything they couldn’t pay cash for. We’re trying to instill that kind of sound financial thinking in our
kids–that’s why we’re raising them in the San Diego (La Jolla) area rather than LA–a little less “la-la landish,” but not much.Many of our friends in the Hollywood biz live in Malibu.
We were up there over the weekend, and one guy we know just gave his 16-year old boy a Maserati. My 15-year old boy said he’d like one for his 16th birthday. Fat chance.I told him that, when we got home, I would show him, on paper, exactly how much he’d have to earn to pay for it, and how many years it would take him to do so. We have things like this come up a lot, and it just takes some time, on the part of parents, to give their kids the values they will take with them through life.
Future generations will bear a terrible burden for the excesses of the present generations, so they’d better be ready to cope with that harsh reality.
February 25, 2008 at 4:05 PM #160029ParticipantTotally agree about the save/spend psychology going on. Again, sad.
I also believe a lot of our behavior as a society comes from the way we were brought up. My parents didn’t buy anything they couldn’t pay cash for. We’re trying to instill that kind of sound financial thinking in our
kids–that’s why we’re raising them in the San Diego (La Jolla) area rather than LA–a little less “la-la landish,” but not much.Many of our friends in the Hollywood biz live in Malibu.
We were up there over the weekend, and one guy we know just gave his 16-year old boy a Maserati. My 15-year old boy said he’d like one for his 16th birthday. Fat chance.I told him that, when we got home, I would show him, on paper, exactly how much he’d have to earn to pay for it, and how many years it would take him to do so. We have things like this come up a lot, and it just takes some time, on the part of parents, to give their kids the values they will take with them through life.
Future generations will bear a terrible burden for the excesses of the present generations, so they’d better be ready to cope with that harsh reality.
February 25, 2008 at 4:05 PM #160044ParticipantTotally agree about the save/spend psychology going on. Again, sad.
I also believe a lot of our behavior as a society comes from the way we were brought up. My parents didn’t buy anything they couldn’t pay cash for. We’re trying to instill that kind of sound financial thinking in our
kids–that’s why we’re raising them in the San Diego (La Jolla) area rather than LA–a little less “la-la landish,” but not much.Many of our friends in the Hollywood biz live in Malibu.
We were up there over the weekend, and one guy we know just gave his 16-year old boy a Maserati. My 15-year old boy said he’d like one for his 16th birthday. Fat chance.I told him that, when we got home, I would show him, on paper, exactly how much he’d have to earn to pay for it, and how many years it would take him to do so. We have things like this come up a lot, and it just takes some time, on the part of parents, to give their kids the values they will take with them through life.
Future generations will bear a terrible burden for the excesses of the present generations, so they’d better be ready to cope with that harsh reality.
February 25, 2008 at 4:05 PM #160046ParticipantTotally agree about the save/spend psychology going on. Again, sad.
I also believe a lot of our behavior as a society comes from the way we were brought up. My parents didn’t buy anything they couldn’t pay cash for. We’re trying to instill that kind of sound financial thinking in our
kids–that’s why we’re raising them in the San Diego (La Jolla) area rather than LA–a little less “la-la landish,” but not much.Many of our friends in the Hollywood biz live in Malibu.
We were up there over the weekend, and one guy we know just gave his 16-year old boy a Maserati. My 15-year old boy said he’d like one for his 16th birthday. Fat chance.I told him that, when we got home, I would show him, on paper, exactly how much he’d have to earn to pay for it, and how many years it would take him to do so. We have things like this come up a lot, and it just takes some time, on the part of parents, to give their kids the values they will take with them through life.
Future generations will bear a terrible burden for the excesses of the present generations, so they’d better be ready to cope with that harsh reality.
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