Comments on: A New Era Of Responsibility Bad For Economy? http://donklephant.com/2009/03/02/a-new-era-of-responsibility-bad-for-economy/ Big Teeth. Huge Ass. Surprisingly Reasonable. Wed, 17 Mar 2010 02:50:45 +0000 http://wordpress.org/?v=2.9 hourly 1 By: wj http://donklephant.com/2009/03/02/a-new-era-of-responsibility-bad-for-economy/comment-page-1/#comment-437141 wj Wed, 04 Mar 2009 02:14:18 +0000 http://donklephant.com/?p=13824#comment-437141 Sure, I'll scale back up. But then, I had (and have) no credit card debt, my mortgage was paid off in under 10 years (a decade ago), and in general I wasn't part of the vast leverage to the max movement. So likely it's not relevant to the question that you are really asking: if you borrowed and spent before, will you borrow and spend again? Sure, I’ll scale back up. But then, I had (and have) no credit card debt, my mortgage was paid off in under 10 years (a decade ago), and in general I wasn’t part of the vast leverage to the max movement.

So likely it’s not relevant to the question that you are really asking: if you borrowed and spent before, will you borrow and spend again?

]]> By: John Milligan http://donklephant.com/2009/03/02/a-new-era-of-responsibility-bad-for-economy/comment-page-1/#comment-437120 John Milligan Tue, 03 Mar 2009 16:57:04 +0000 http://donklephant.com/?p=13824#comment-437120 People just need to do what is in their own personal/family interest. Saving more now and getting back to some semblance of prudent basics is one way to assert that interest and should be encouraged. We all were living in a Dreamworld for the last 25 years trying to get something for nothing and hoping against hope tlike Mr. McCawber in Dickens that "Something Will Come Up." We'll it hasn't and didn't and won't unless we get back to prudent basics and build from there. People just need to do what is in their own personal/family interest. Saving more now and getting back to some semblance of prudent basics is one way to assert that interest and should be encouraged. We all were living in a Dreamworld for the last 25 years trying to get something for nothing and hoping against hope tlike Mr. McCawber in Dickens that “Something Will Come Up.” We’ll it hasn’t and didn’t and won’t unless we get back to prudent basics and build from there.

]]> By: kasey d http://donklephant.com/2009/03/02/a-new-era-of-responsibility-bad-for-economy/comment-page-1/#comment-437088 kasey d Mon, 02 Mar 2009 21:40:45 +0000 http://donklephant.com/?p=13824#comment-437088 i know i'm spending less in every way, and watching my spending carefully. what used to not be a big deal, such as $30 jeans, i now agonize over for a month before buying. i know i’m spending less in every way, and watching my spending carefully. what used to not be a big deal, such as $30 jeans, i now agonize over for a month before buying.

]]> By: shane http://donklephant.com/2009/03/02/a-new-era-of-responsibility-bad-for-economy/comment-page-1/#comment-437087 shane Mon, 02 Mar 2009 21:12:17 +0000 http://donklephant.com/?p=13824#comment-437087 Here is a graph showing our saving rate data. http://www.bea.gov/briefrm/saving.htm There will be buyers when this passes and the smaller it is in the rear view mirror, the more we will return to our poor buying and saving habits. However, there will be people who felt the pain enough to permanently change their habits. My grandparents were incredibly conservative with their money and it was directly related to dealing with the great depression and war rationing. It is remarkable that this poor economic situation came just as we have recently lost the generation that still had first-hand memory of the great depression. I wonder if that is just a coincidence? As for me, no change. If anything, I've been looking for deals, but I'm certainly not taking on debt or dipping into the emergency fund. Here is a graph showing our saving rate data.

http://www.bea.gov/briefrm/saving.htm

There will be buyers when this passes and the smaller it is in the rear view mirror, the more we will return to our poor buying and saving habits. However, there will be people who felt the pain enough to permanently change their habits. My grandparents were incredibly conservative with their money and it was directly related to dealing with the great depression and war rationing. It is remarkable that this poor economic situation came just as we have recently lost the generation that still had first-hand memory of the great depression. I wonder if that is just a coincidence?

As for me, no change. If anything, I’ve been looking for deals, but I’m certainly not taking on debt or dipping into the emergency fund.

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