Is it patriotic to spend rather than to save ?

[obgyn65]

Interesting article in today's NYT :
http://www.nytimes.com/2012/01/15/business/consumer-spending-as-an-american-virtue.html

I am a US citizen too, but for some reason I fail to see the link between spending and being patriotic. Are we, savers, "wired" differently than the rest of the population then?

 

[73ss454]

If this is the case DW is a true Patriot!

 

[haha]

Interesting article in today's NYT :
http://www.nytimes.com/2012/01/15/business/consumer-spending-as-an-american-virtue.html

I am a US citizen too, but some reason I fail to see the link between spending and being patriotic. Are we, savers, "wired" differently than the rest of the population then?

It is a very interesting article. However, I find the whole idea of the government promoting either spending or saving to be annoying. They should shut up and get out of the way.

There is one good thing about pro-spending governmental programs. They make it easier for me to 'just say no" to buying stuff. Whatver the government wants me to do, I know is not in my best interests.

I really don't care what gadgets come along. I have reached the point where the learning curve and the time necessary to comprehend each new fantastically complicated piece of gadgety junk cannot be compensated by anything that the gadget could conceivably do. Plus, the stuff so frequently breaks, presenting one with a whole other list of hoops to jump.

Same with vacations. Keep 'em. Phoney packaged and marketed experiences, bad food, terrible airline service, add it all up and it is hard for me to come up with a suitable fee to charge for being willing to endure a vacation.

 

[REWahoo]

Ha, sounds like it's time once again for...

 

[haha]

Ha, sounds like it's time once again for...

REW, you have a good point. Actually, I enjoy people, I just don't want any of what anyone is selling or advocating. If many people want it, it has to be screwed up is my idea.

Today I read where Ralph Fiennes was asked what he hated. Facebook and Twitter he said.

Me too amigo, along with a number of other popular "goods and services", including but not limited to Saving the Whales, Occupying anything at all, Recycling, blah blah blah.

Ha

 

[Gerbil Wheel]

If it's more patriotic to spend than to save, you can call me Benedict Arnold.

 

[Moemg]

Ha ! You are usually so upbeat ! It's kind of amusing to see you kind of crotchety ! But
I am also sick of stuff . I am trying to scale down,donate,recycle & throw away a lot of stuff I haven't used in years .

 

[Alan]

We are doing our bit to be patriotic. We've just just about finished booking accomodations for our 4 month driving tour, staying for a while in 5 different States in the good 'ole US of A.

 

[W2R]

We are doing our bit to be patriotic. We've just just about finished booking accomodations for our 4 month driving tour, staying for a while in 5 different States in the good 'ole US of A.

That's great! And never fear - - since you are no longer living in Louisiana, I am dutifully doing everything possible to single-handedly, patriotically stimulate the economy down here in south Louisiana.

To be serious, I do agree with Ha! I'd rather make the decision to spend or save all on my own in a free market, basing my decisions on how much I have, how attractive the purchases may be to me, and how good the deals are.

 

[FIREd]

We are in the process of downsizing. We are getting rid of 70% of our stuff and lemme tell you, I am disgusted at the amount of money we have wasted on stuff over the years. From now on we'll think twice before buying another piece of junk. My days of stimulating the economy are over.

 

[W2R]

We are in the process of downsizing. We are getting rid of 70% of our stuff and lemme tell you, I am disgusted at the amount of money we have wasted on stuff over the years. From now on we'll think twice before buying another piece of junk. My days of stimulating the economy are over.

Moving does that to people - - I probably got rid of 80% of my stuff last year, furniture and all, and most of it seemed like worthless junk to me. But now that moving is no longer on the horizon, my perspective seems to be shifting.

 

[Bestwifeever]

I think we've moved to spending money on experiences rather than stuff.

Sweeping generalizations about "only in America" are always fun.

 

[Rich_by_the_Bay]

I think we've moved to spending money on experiences rather than stuff.

Sweeping generalizations about "only in America" are always fun.

+1

"Stuff" often loses its appeal very fast, unless it is a reminder of a special experience. Those experiences are really what counts.

We own a dozen or so "big" bottles of wine (the rest are from Sam's or some other decent but not expensive supplier). DW can recite the exact time and place where each of the big ones was purchased, the occasion, usually even minor details ("remember the lady at the next table who spilled her coffee on her husband," or, "wasn't the view of the beach beautiful").

But a new car, not so much. Really.

 

[Mulligan]

I was patriotic today I spent $20 today ordering season 1 of "Cannon". Anybody remember that tv detective show from the 1970's? I plan to be extremely patriotic next week and buy some mutual funds for my 2011 Roth contribution.

 

[W2R]

I was patriotic today I spent $20 today ordering season 1 of "Cannon". Anybody remember that tv detective show from the 1970's? I plan to be extremely patriotic next week and buy some mutual funds for my 2011 Roth contribution.

My patriotism for the day was far less. I only spent $6 (on lunch+tip). That should prop up Louisiana's sagging economy for another day. Yes, I remember that show and liked it at the time.

 

[Midpack]

It's "patriotic" to spend but in the sense...imagine if somehow everyone stopped buying anything, the economy would falter (or worse) in time, so spending is essential.

OTOH, the economy got into trouble when people started to spend too much, money they didn't have or debt. There is an equilibrium in there somewhere, and it seems to have changed (more saving and debt repayment) in the past few years since the meltdown. You even read nowadays that individual spending restraint is part of the reason for our tepid recovery, though necessary IMO.

Like many here, we are pretty frugal, so we probably aren't 'doing our fair share.' Ironic that all the LBYMers here benefit from those who spend more freely...

 

[Walt34]

I guess I'm not very patriotic then. While the target is to go skidding into my casket clutching my last dollar the timing on that is difficult. (Not my quote but I forget where I read it.)

So there will probably be a few bucks left over.

 

[Nodak]

I mostly agree with Ha on this, but will admit to being a serious gadget junkie.

 

[RetireBy90]

Interesting article in today's NYT :
http://www.nytimes.com/2012/01/15/business/consumer-spending-as-an-american-virtue.html

I am a US citizen too, but for some reason I fail to see the link between spending and being patriotic. Are we, savers, "wired" differently than the rest of the population then?

Interesting, but I don't see that spending is patriotic. I see the point of going to Disney Land after 9-11 in that we as a people aren't going to stop our way of life because of those actions.

However, I'm not spending to prop up the economy, just don't have that kind of mindset. I think the point of the article is that somehow as a country we seem to think that that way.

We do our spending above required bills on travel, but not buying some package. Rather we find a good place to go and then get a car are drive around the place to try and get a feel of the real place, away from the crowds.

 

[ziggy29]

I think it's silly to suggest that spending or saving is more "patriotic." In an overheated economy where overspending leads to low savings rates and inflationary pressures, we "need" more saving. In a recessionary environment with lots of cash hoarding going on, where excess cash flow goes mostly to savings and debt reduction, we "need" more spending.

I say "need" here in the context of a stable, healthy economy. But no amount of telling people they need to spend is going to help if (a) they don't want the stuff and (b) their fears about their economic and employment futures are not assuaged.

 

[Trawler]

Ok
I will join the fun!
I did my patriotic duty and Spent My Savings Money on Estimated Taxes a few weeks back.

 

[TromboneAl]

It is a very interesting article. However, I find the whole idea of the government promoting either spending or saving to be annoying. They should shut up and get out of the way.

Moderators: I think ERD50 has hacked HaHa's account.

 

[TromboneAl]

Today I read where Ralph Fiennes was asked what he hated. Facebook and Twitter he said.

Me too amigo...

Yeah. And don't forget that damned early retirement forum!

 

[Illbuck2006]

I'd like to consider myself patriotic, spent 4 years in the Marines. I'm from the Appalachia/coal country region and growing up my parents, grandparents, uncles, etc... saved, didn't carry much debt and tried to pay cash for most things; this, to me, was considered patriotc. Come to think of it they prob did these things b/c they didn't have much money in the first place and from talking to them credit was harder to obtain at that time.

It seems over the past couple decades spending way past your comfort level is the norm and if you don't conform you're not truely patriotic. I'm not buying it, but I'll just keep saving and deal with the accusation of not caring about my country.

Sorry articles like that hit a nerve with me.

 

[haha]

Yeah. And don't forget that damned early retirement forum!

You speak only for yourself, TAL. As for me, I adore ER.org! Even when I am in a very cold and curmudgeonly mood, my devotion to ER.org keeps me warm. I didn't get 16266 posts because I am uninterested.

Ha