Re: Kids... need some serious advice...

Posted by Hugh MacKay on February 15, 2006 at 02:38:52 from (216.208.58.133):

In Reply to: Re: Kids... need some serious advice... posted by Steven@AZ on February 14, 2006 at 18:57:58:

Steven: If you take notice, I did say you young folks live in a much different world today than our generation. While most folks may not agree with me, you have been plunged into a situation much like your grandparents. My dad went through the dirty 30s, born in 1910 he was roughly 20 years old when it hit. Luckily he never lost a days work as a result. He bought and paid cash for a new flat head V8 Ford coup in 1935, but never considered he was financially well enough off to marry until 1940. I came along in 1942, thus dad was 32 at the time. Basically he was not unlike you, while they called it a depression in those days, the result was the same as for your generation. For salery received many of the finer things of life were not within reach.

I was married in 1965 at age 23. Two years before that I bought a farm; modest house, 30x50 barn, 60 acres of cultivated land and 140 acres of spruce woodland, all for $5,000. Within 10 years I had received over $18,000. in stumpage fees from that woodlot. Our generation lived and thrived on inflation. Sadley the yuppies think their children are going to foot this bill.

Our governments here in North America think we can spend our way out of this situation with the credit card. My only advice to any young person is stay out of debt. If you are not there already, get in that position quickly as possible. I have no idea how you deal with your share of the public debt. My dad didn't have to deal with that one, thus he had no advice on the matter. It can't continue, someone is going to call those loans, and I don't think they are on our side of the Atlantic or Pacific. I will respond to your personal e mail later.

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