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Originally posted by jimmyx
it is a way to shift blame from what has happened. they need for the person fired or laid-off to take the blame. combine that with fear, and you have a willing populace that does NOT ask for raises, or benefits when they do have a job. if labor is scarce, the demands for better pay, better working conditions costs the wealthy more. that's why these types of recessions will continue into the future. the extremely wealthy have the luxury to sit out any recession. thus, recessions and depressions are simply a way to buy valued assets at a much cheaper price.
[edit on 23-7-2010 by jimmyx]
Originally posted by Bugman82
The problem most people see is that people continue to live above their means and were not wise enough to save money for a time like this. The issue of helping out an unemployed person who has lost their job isn't the issue. The issue is helping out an unemployed person who hasn't prepared, even though they have had the ability to prepare.
Example of where my problem lies: Joe Shmoe makes $35,000 a year. However, because Joe Shmoe likes stuff a lot he buys a BMW, constantly buys his clothing from expensive retailers, eats out at nice restraunts, and lives paycheck to paycheck or wracks up thousands of dollars in credit card debt.
The Joe Shmoes (Sorry if your name is really Joe Shmoe) are the people that put the strain on our system. They are the ones who have the ability to become prosperous and wealthy over time but are so caught up in the buy-now mentality that they throw it all away. Literally, they are the ones who are in a major part responsible for the way our economy is today. These are the people I struggle with feeding off the teet of the government.
I understand the argument that they've been brainwashed by media into this consumerism mentality but people must take responsibility for their actions and need to experience something to correct their habits. The government coming to the rescue with free money may not be enough discipline to change spending and saving habits.
This perspective comes from a working man with a $24,000 a year salary and no benefits. I have successfully saved 20% of my income over the last 3.5 years. Also, due to wise investing I have gained around 11% annually on my savings. I'm sitting at around $18,500 currently. Thankfully, I have recieved a major promotion and will be making around $44,000 a year. Do you think I'm going to change my spending and saving habits? The only thing that will change is that now I will be saving around 30% of my income and increase my spending a bit to enjoy some things I've been waiting for in life like family vacations and travel.
He who ignores discipline comes to poverty and shame, but whoever heeds correction is honored. Prov. 13:18