From: Samantha Atkins (samantha@objectent.com)
Date: Mon May 27 2002 - 14:44:54 MDT
James Rogers wrote:
> On 5/26/02 9:23 PM, "Samantha Atkins" <samantha@objectent.com> wrote:
>
>>Data please. The great majority of parents of college age kids
>>are in debt up to their eyeballs and have almost no savings
>>except maybe 401K.
>>
>
>
> In the vast majority of cases, the only reason this is true at all is that
> the parents are incompetent at managing their finances and practice very
> questionable and irresponsible consumption behaviors. The rest of the
> population shouldn't be footing the bill merely because some people want to
> spend excessive quantities of money on frivolous consumerism, as that will
> only encourage it.
>
Nothing personal but this is a singularly judgmental and
incorrect few. We (rather governmental, economic, industrial
and advertsing policies) have very purposefully played on common
human sensibilities and interest to force as many people as
possible into level of consumption that are insane and quite
detriminal. You cannot blame it completly or even mainly on
financial incompetence of the people we have worked so hard to
turn into "consumers" instead of citizens.
> At least in the US, equity building and saving behaviors seem to vary quite
> a bit from generation to generation. My grandparent's generation has always
> seemed pretty smart about saving money, particularly in regard to not
> spending money on frivolous consumption. I'm relieved to see that my
> generation (Gen X) appear to be fairly good about accumulating savings as
> well. My parent's generation on the other hand seem to be about the worst
> living generation in that regard. The Baby Boomers are in their 50's now,
> and a large percentage of them (including my parents) do not have two red
> cents to rub together.
>
Saving have been negative on average for over a decade in the
US. Even in 1960 the average was no more than rate of savings
of "disposable" income was no more than 5%.
- samantha
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