Posted by ericlb on December 24, 2008 at 04:44:41 from (72.173.211.235):
In Reply to: Our frugal future? posted by Spook on December 23, 2008 at 18:48:17:
as far as debt i think were going to see a return to the past,we will have to adopt the old pratice of "if i cant pay for it,i'll get along without it" except for houses and cars, and i expect to see some different ways of financing those too,most of us older folks were brought up that way, and most havent strayed too far, i myself can sell 1 dump truck now and be totally debt free, but we also have about 30 years worth of young people who have the brain set of "i want it all, and i want it all now" they look at the guy next door with all his stuff and cant seem to concept that it took the guy 50+ years to get all that stuff, they instead get all the credit cards they can and get loans to buy all the other stuff with the intention of paying it all off someday without any real idea of how there going to do that, those people are about to get a rude wake up call
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