Someone please explain to me how we are worse off today than people were during the Great Depression? I've seen a few people say this today and I don't get it. Things are not good, for sure, and are probably going to get worse before they get better. However, last I checked our unemployment rate is not averaging in the 30% range.
Much of the problem is that we as consumers got greedy. Everyone wants to blame the Big Evil Corporations. Sure, they were making money hand over fist, but nobody FORCED people to buy homes they couldn't afford, or is forcing everyone to go into huge amounts of debt for their instant gratification. Used to be that people had "nice things" when they were older, things they bought slowly over time. Now there's this sense of entitlement that we should have everything we want in our 20s (or sooner). Well, we in general are paying for it now.
We've done this to ourselves.
Much of the problem is that we as consumers got greedy. Everyone wants to blame the Big Evil Corporations. Sure, they were making money hand over fist, but nobody FORCED people to buy homes they couldn't afford, or is forcing everyone to go into huge amounts of debt for their instant gratification. Used to be that people had "nice things" when they were older, things they bought slowly over time. Now there's this sense of entitlement that we should have everything we want in our 20s (or sooner). Well, we in general are paying for it now.
We've done this to ourselves.
Labels: rant