Comments on: The New Thrift http://www.onpointradio.org/2009/04/the-new-thrift On Point is a live, two-hour morning news-analysis program, produced by WBUR 90.9 and NPR. Sat, 20 Mar 2010 17:41:31 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Langston Richardson http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15388 Langston Richardson Wed, 22 Apr 2009 03:19:32 +0000 http://www.onpointradio.org/?p=14140#comment-15388 I had been listening to the second half of the On Point Radio show for April 21, 2009 and began to consider the effects of the economic downturn would have on industries whose very existence is to connect consumers to products: the advertising / marketing / creative services sector. Langston Richardson I had been listening to the second half of the On Point Radio show for April 21, 2009 and began to consider the effects of the economic downturn would have on industries whose very existence is to connect consumers to products: the advertising / marketing / creative services sector.

Langston Richardson

]]> By: Richard http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15374 Richard Tue, 21 Apr 2009 21:59:10 +0000 http://www.onpointradio.org/?p=14140#comment-15374 I'm amazed that the impact of credit cards (virtual money) wasn't brought up. I would venture that being able to buy things without actually having the money to do so is an important piece of this puzzle. Couple that with the fact that many people are out of phase with where they should be on saving for a rainy day. People might start saving some now but it's not going to do them a lot of good if they have jobs, nor will it help the larger economy (as was stated on the show many times). But, when times are fat again they'll start spending and not saving (for the coming lean times) and they'll get whacked again. The idea is to have the resources to not only survive the lean times, but as one of the callers said, to maybe buy some stock when the prices hit the floor. No savings, no stock buying (unless one does it on margin). The fact that money is now an abstraction is a bit piece of this. I’m amazed that the impact of credit cards (virtual money) wasn’t brought up. I would venture that being able to buy things without actually having the money to do so is an important piece of this puzzle.

Couple that with the fact that many people are out of phase with where they should be on saving for a rainy day. People might start saving some now but it’s not going to do them a lot of good if they have jobs, nor will it help the larger economy (as was stated on the show many times). But, when times are fat again they’ll start spending and not saving (for the coming lean times) and they’ll get whacked again.

The idea is to have the resources to not only survive the lean times, but as one of the callers said, to maybe buy some stock when the prices hit the floor.

No savings, no stock buying (unless one does it on margin).

The fact that money is now an abstraction is a bit piece of this.

]]> By: Mark - Canton Melbourne Quebec http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15356 Mark - Canton Melbourne Quebec Tue, 21 Apr 2009 16:28:18 +0000 http://www.onpointradio.org/?p=14140#comment-15356 Perhaps the Great Recession will lead us to rethink of how we define success. It's irritating to hear the constant mantra of how success equals material wealth - as if there was no other way of going about our tenure on the planet. Thrift, conservation, and adoption of a era appropriate values is the silver lining amidst the gloom and doom. Think of this recession as a warning shot and an opportunity to learn to live with less while contributing more. The era of believing in eternal growth and prosperity is behind us - welcome to the restraints to be visited on us by a deteriorating environment and rapidly warming planet lest we are changed indeed. Perhaps the Great Recession will lead us to rethink of how we define success. It’s irritating to hear the constant mantra of how success equals material wealth – as if there was no other way of going about our tenure on the planet.

Thrift, conservation, and adoption of a era appropriate values is the silver lining amidst the gloom and doom. Think of this recession as a warning shot and an opportunity to learn to live with less while contributing more.

The era of believing in eternal growth and prosperity is behind us – welcome to the restraints to be visited on us by a deteriorating environment and rapidly warming planet lest we are changed indeed.

]]> By: Felipe http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15354 Felipe Tue, 21 Apr 2009 16:03:44 +0000 http://www.onpointradio.org/?p=14140#comment-15354 The New Frugality = The New World Order because we'll never get out of debt when inflation rises faster than wages - the only solution to which, as provided by our government, will be more debt; this is how most everyone will eventually & slowly become enslaved The New Frugality = The New World Order
because we’ll never get out of debt
when inflation rises faster than wages – the only solution to which, as provided by our government, will be more debt;
this is how most everyone will eventually & slowly become enslaved

]]> By: Felipe http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15351 Felipe Tue, 21 Apr 2009 15:53:06 +0000 http://www.onpointradio.org/?p=14140#comment-15351 Everything you are talking about was the whole purpose of suddenly & astronomically raising gas prices: Downsizing by Crashing the Economy Consolidating Businesses & Control of Economic Sectors through Preferential Bail Outs Cutting Away the Excess Restructuring the Labor Market through Job Availability Just like one big corporation... We are being whipped, herded, separated, & corralled into a massive corporate money-labor interest-milking farm that will be known as the New America of the 21st Century. It is part of the greater vision as set forth by the UN's founders and that Bush Sr., Clinton, & Bush Jr. have in the past called the New World Order - a term which is now openly used internationally on such occasions as the recent multi-trillion dollar IMF Bail Out. Google: Prime Minister Brown. And hear it for yourself... Everything you are talking about was the whole purpose of suddenly & astronomically raising gas prices:

Downsizing by Crashing the Economy
Consolidating Businesses & Control of Economic Sectors through Preferential Bail Outs
Cutting Away the Excess
Restructuring the Labor Market through Job Availability

Just like one big corporation…

We are being whipped, herded, separated, & corralled into a massive corporate money-labor interest-milking farm that will be known as the New America of the 21st Century. It is part of the greater vision as set forth by the UN’s founders and that Bush Sr., Clinton, & Bush Jr. have in the past called the New World Order – a term which is now openly used internationally on such occasions as the recent multi-trillion dollar IMF Bail Out. Google: Prime Minister Brown.
And hear it for yourself…

]]> By: calanan http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15350 calanan Tue, 21 Apr 2009 15:52:09 +0000 http://www.onpointradio.org/?p=14140#comment-15350 The caller who joked that he could teach a course on frugality raises an interesting point. It would be interesting to learn tips on frugality from folks who did live through depression and war. I wonder if any cities or communities are offering these types of courses? - mike The caller who joked that he could teach a course on frugality raises an interesting point. It would be interesting to learn tips on frugality from folks who did live through depression and war. I wonder if any cities or communities are offering these types of courses?

- mike

]]> By: Linda Hay http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15349 Linda Hay Tue, 21 Apr 2009 15:47:12 +0000 http://www.onpointradio.org/?p=14140#comment-15349 Some of us have been living frugally for years ... we've had no choice. Teachers, blue collar workers (in industries which have been sagging for decades), the real middle class who haven't been "keeping up" since the days of Ronald Reagan. Some of the things TV etc. inspired others to aspired to, mac mansions, luxurious vacations, second homes, perfect nails, SUVs, humungous screen TVs ... weren't for us. We knew that the way financial advisers were talking/writing didn't include "common sense". I am so grateful to learning a lesson from seeing my grandparents go from upper middle class to living in church subsidized housing. They had been free spenders in the 50's and 60's and had lived well ... cabin cruiser, trips to Bermuda. No lessons from the depression for them. But I got it. Graduating from University during the recession of the early 70's, was another lesson in reality. Ever since I have sewn and knitted, mended tears, grown veggies, done my own house repairs, used the library, and driven second hand cars. The upshot is that I have retired and I am not stressed out, because I always assumed that things would get bad sooner or later. It's a mind set, and I've been privately proud of being frugal. Some of us have been living frugally for years … we’ve had no choice.

Teachers, blue collar workers (in industries which have been sagging for decades), the real middle class who haven’t been “keeping up” since the days of Ronald Reagan. Some of the things TV etc. inspired others to aspired to, mac mansions, luxurious vacations, second homes, perfect nails, SUVs, humungous screen TVs … weren’t for us.

We knew that the way financial advisers were talking/writing didn’t include “common sense”.

I am so grateful to learning a lesson from seeing my grandparents go from upper middle class to living in church subsidized housing. They had been free spenders in the 50’s and 60’s and had lived well … cabin cruiser, trips to Bermuda. No lessons from the depression for them. But I got it.

Graduating from University during the recession of the early 70’s, was another lesson in reality. Ever since I have sewn and knitted, mended tears, grown veggies, done my own house repairs, used the library, and driven second hand cars.

The upshot is that I have retired and I am not stressed out, because I always assumed that things would get bad sooner or later. It’s a mind set, and I’ve been privately proud of being frugal.

]]> By: Glenn http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15348 Glenn Tue, 21 Apr 2009 15:46:10 +0000 http://www.onpointradio.org/?p=14140#comment-15348 I don't know much, but here's something I know for sure: 6 months after a substantial recovery, people will be demanding Hummers again. I don’t know much, but here’s something I know for sure: 6 months after a substantial recovery, people will be demanding Hummers again.

]]> By: Cheryl Siedelmann http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15346 Cheryl Siedelmann Tue, 21 Apr 2009 15:37:47 +0000 http://www.onpointradio.org/?p=14140#comment-15346 Where we've gone wrong is to spend our discretionary money hedonistically on ourselves. Wasting money on clothes or toys doesn't fulfill the spirit. There are better ways to spend it. We can use it constructively on schools, charities, parks etc. That way it gets spent instead of saved, but is spent for good purposes that will improve our future. Where we’ve gone wrong is to spend our discretionary money hedonistically on ourselves. Wasting money on clothes or toys doesn’t fulfill the spirit. There are better ways to spend it. We can use it constructively on schools, charities, parks etc. That way it gets spent instead of saved, but is spent for good purposes that will improve our future.

]]> By: Hanna http://www.onpointradio.org/2009/04/the-new-thrift/comment-page-1#comment-15345 Hanna Tue, 21 Apr 2009 15:36:38 +0000 http://www.onpointradio.org/?p=14140#comment-15345 The economist is incorrect when she stated that unemployment was 10% until Pearl Harbor. It had fallen below 7% by summer and was near 5% in autumn 1941. The economist is incorrect when she stated that unemployment was 10% until Pearl Harbor. It had fallen below 7% by summer and was near 5% in autumn 1941.

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