Friday, April 24, 2009

Question of the Day #170

One of The Question of the Day regulars, Lisa D., is here! So of course, we've been pondering all sorts of profound things. And yesterday, as we puttered through LA traffic on the way to meet friends, we came up with a great question.

Which because we didn't write it down immediately, we completely forgot. Until, thankfully she remembered, this morning.

We were catching each other up about mutual friends and unfortunately, a lot of them were described as "out of work." We looked at everybody surrounding us in their fancy cars talking into their bluetooths and discussed spending and how, as Americans, we can be a little materialistic. ("A little" is putting it lightly in LA, where dogs are bred to match $3,000 purses.) We talked about, how as a nation, we "fell for it." Designer jeans, easy money, expensive cars, fancy vacations, homes we couldn't afford.

And we all know where that got us. So, as we pray and work towards recovery, we wondered if the next time things are on the rise, will we remember to be a little more cautious? Or will we, collectively, "fall for it" again?

What do you think?



  1. I think it will happen again. As soon as one prospers a little, his/hers first instinct is to 'treat' themselves. I think what is happening in the US has a lot to due withe its banking structure and regulations. Granting mortgages to individuals who can make no down payment or who are purchasing a home beyond their means is irresponsible. The banks need to be better regulated. Perhaps the US should look to its neighbour to its north? ;) The Canadian banking systems has been lauded as one of the soundest in the world.

  2. I have to agree with The Professional Bridesmaid! Just looking at myself and what I do I realized that I'm not as safe from this as I thought. Whenever I get down or depressed I go out shopping. I shop for books, clothes, clothes for my little sister, etc. I really should be saving money to pay off my school loans and pay for the rest of school but a part of me says, "You've worked so hard!! You haven't spent money in a really long time. You can spend a couple hundred on things that will make you happy!"

    And that's all coming from the mind of one of the most frugal and tightly closed purse shoppers! I can only imagine what others are thinking who don't really have restraint are thinking.

    It's a sad and sorry truth. People will go crazy about how irresponsible we all were, live life, and forget about it. History is and will always repeat unless we ALL learn from the disasters. I'm a bit of a downer when I say this, but, I really don't think that everyone in the U.S. thinks the recession pertains to them. That debt is going to happen to them. *sigh*

  3. I'm of the opinion that America and Americans have always been of an extremist mentality. If you glance thru history, you'll notice that the great American pendulum (did I spell that right?) has always been on either one side or the other, rarely in between with a happy medium.

    I'm also of the opinion that we Americans have very short term memories and therefore, it will happen again. History truly repeats itself, unless the egnimatic 'you' learns from the mistake(s).

  4. I hope we can learn from our mistakes as a nation, but being the greedy bastards we are, it will probably happen again.

  5. I think those of us who got hit the hardest will remember and not fall into the same trap. Kind of like people who grew up during the Depression.

  6. I think people will always "fall for it" over and over again. The question is, will we be able to recover this time in order to fall again?

  7. I think it's the same here in Indonesia. I agree to Rena's statement all the way. People should really manage their lifestyles according to their affordable budgets. Don't get blind for materialistic matters, if you can't afford it. Don't forget to save as well. Those financial advices say that we need to have an emergency account for at least three times of our monthly expenses. In my opinion it's even better more. You don't have to pass on all luxury of life, but becoming a victim of every trend is also not wise. Buying things will never be enough if you loose control of yourself. Try to be honest to yourself and set the limits. Have a great weekend, everybody :).

  8. I think we are doomed. Islamic nations will rule the world by virtue of having more children than other nations / religions. It is expected in a short 37 years that ALL OF EUROPE will be islamic - this is simply based on the fertility rate dropping below 2.4. In most of europe it is a dismal 1.3.
    No civilization has rebounded from this & america is (with help from the latino's) right at the bare minimum 2.4. Take away the latino's in our country, & wa laa we are screwed.
    Our civilization as we know it will BE GONE IN 40 YEARS. In our country you will begin to see states LEAVING the United States & become their own nation. If you don't believe me, you, like most around the world are NOT PAYING ATTENTION & are part of this problem.


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