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September 22, 2008

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The problem is that we have grown an unrealistic sense of entitlement. We think we should have everything and more out neighbor has. Until that prevailing attitude changes, I don't see a huge change in our spending. Our government budget is a reflection of that.

Living within our means? How un-American.

My goal is to actually live way BELOW my means. That way, if I have a unfortunate circumstance like losing a job or emergency in the family, I can take the financial hit no problem.

The issue is that almost nobody thinks like me in that respect and that's why when such problems hit like we are in now, people end up facing foreclosure. It's all in our own choices.

I hope that the government doesn't bail out the banking system, even if it means we head into a 10 year recession. If the government steps in now and tries to reshape the market it is only go to lead to more problems. Capitalism is a free market system, if you run your business bad and it fails you dont' get a free pass and the government pays off your bad debts. I'm so frustrated, we need to hit bottom so people start to change their financial lives or this will continue until we really hit bottom hard. I'd rather face it now instead of 20 years from now when the consequences are much higher.

Living below our means? How funny. Most Americans are living like drug addicts - 'I'm going to get straight tomorrow'.
Well tomorrow is very near. We all need to pratice bending over, spreading wide and enjoy the Deep Probing of the "Government" as it reaches for your money to provide the 'fixes' Promised.
My Great Grand kids will be paying through various orifices for our fanastie$.
Thank fully my kids are learnning cash is king and only Oxygen is needed immediatly.
Pitty the fools that sold their lives in to debt Salvery. Give them a hand up not a hand up.

Living within our means only will hurt in the sense that we actually have to live with the consequence of what it means to live within our means. Will that mean an economic recession? Yes, but aren't we already in one already? I understand the desire to move cautiously, but I find the talk a bit misguided. After all, the "recession" in some sense will be a "return to what we should have been experiencing". Can that be traumatic? Yes, I suppose a lot of people will fight tooth and nail as the market imposes on us (finally) the consequences of our own behavior. But does anyone have any great confidence that the same actors who got us into this mess can get us out of it smoothly? I don't. And I'm unconvinced that the recession from behaving responsibly will be nearly as bad as the consequences of continued irresponsible behavior.

Why is everyone talking about Japan and China poised to triumph as we decline? Because they are savers and still believe in some notion that investment capital comes from savings and not borrowing.

Funny, this reminds me of the "are we allowed to bring food into the movie theater" discussion.

*Mock on*
Don't you people get it? The "social contract" is for all of us to spend our way to prosperity! The "business model" requires you to buy overpriced useless junk. If everybody stops then the whole unsustainable model doesn't work. If you live within your means then you are leeching off other people who don't live within their means! They generate the consumptions that create jobs for you! Now go out there and spend and violating the social contract.
*Mock off*

I live within my poverty-level means and have nothing left over. Why should I have to pay for the mistakes of others? Whatever happened to personal responsibility?

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