Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Spending Less because of the Economy
Old 12-18-2007, 09:31 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,197
Spending Less because of the Economy

Every night on the news they'll have a story about how people are spending less this Christmas. They'll always interview some 20-something mall shopper, who says something like this:

"Yes, I'm cutting back this year, because I've heard that the economy isn't doing that well."

Now, unless that person expects to lose his/her job, that makes no sense, right?
__________________

__________________
Al
TromboneAl is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-18-2007, 09:38 AM   #2
Full time employment: Posting here.
Retire Soon's Avatar
 
Join Date: Nov 2005
Posts: 655
Maybe the 20-something mall shopper is only saying what he thinks the interviewer wants to hear.
__________________

__________________
Retire Soon is offline   Reply With Quote
Old 12-18-2007, 09:50 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by TromboneAl View Post
"Yes, I'm cutting back this year, because I've heard that the economy isn't doing that well."
Translation: Mom and Dad are pissed at me because I dropped out of college to live with my boyfriend, so they quit giving me money.............
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 12-18-2007, 09:53 AM   #4
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,860
Well, I would imagine that 50% of people are spending more, and 50% are spending less, all else being equal.

The snowstorm is probably keeping some people inside in the northeast, so that alone would probably mean most people are spending less.

I agree - - these live news stories from a local mall are pretty pointless!
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 12-18-2007, 10:55 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Quote:
Originally Posted by Want2retire View Post
these live news stories from a local mall are pretty pointless!
With eleven zillion channels competing for viewers, they gotta scratch up something to put on the air.......
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 12-18-2007, 11:17 AM   #6
Full time employment: Posting here.
 
Join Date: Mar 2005
Posts: 927
Quote:
With eleven zillion channels competing for viewers, they gotta scratch up something to put on the air.......
This brings up something I've wondered about lately -- what do news people themselves think about all the blather on TV these days? Do they just LOVE those interviews at the mall, or are they secretly hating life?

I once considered journalism and talked to some professors, students, and journalists who really wanted to change the world, be the next Woodward and Bernstein, etc.

Has anyone out there every been a journalist and what do folks on the inside think of the current state of the industry?
__________________
Caroline is offline   Reply With Quote
Old 12-18-2007, 11:18 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
 
Join Date: Oct 2003
Posts: 5,105
Don't they run that story every year?
Have they ever ran a story - the economy is doing great; are you spending more?
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Old 12-18-2007, 11:24 AM   #8
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by TromboneAl View Post
Now, unless that person expects to lose his/her job, that makes no sense, right?
These are the same people who, in a few decades, will be returning to work because they ran out of money retirement leaves them bored and unfulfilled.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 12-18-2007, 11:29 AM   #9
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,860
Quote:
Originally Posted by Caroline View Post
This brings up something I've wondered about lately -- what do news people themselves think about all the blather on TV these days? Do they just LOVE those interviews at the mall, or are they secretly hating life?

I once considered journalism and talked to some professors, students, and journalists who really wanted to change the world, be the next Woodward and Bernstein, etc.

Has anyone out there every been a journalist and what do folks on the inside think of the current state of the industry?
I have never been a journalist, nor am I on the inside.

I don't think there's such a thing as a T.V. journalist in my area. They cover the stories that people call in and tell them about, as long as covering them doesn't offend the wrong people. They don't seem to go out looking for stories independantly, at all.

I find the decline of genuine journalism in our lifetimes to be shocking.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 12-18-2007, 11:43 AM   #10
Full time employment: Posting here.
UncleHoney's Avatar
 
Join Date: Aug 2006
Location: Columbus
Posts: 769
Quote:
Originally Posted by TromboneAl View Post

"Yes, I'm cutting back this year, because I've heard that the economy isn't doing that well."

Now, unless that person expects to lose his/her job, that makes no sense, right?

Maybe it's just a little guilt feeling coming out.

People living paycheck-to-paycheck may be concerned about bumps in the road ahead. For many, one lost or delayed paycheck would be the end of life on earth as they know it and everything would come down around their ears in a few days.
__________________
UncleHoney is offline   Reply With Quote
Old 12-18-2007, 01:01 PM   #11
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
Gee I was exchanging some jeans at Sears the other day (bad day in China, they forgot to put one of the belt loops on them), and some young lady was trying to get to me at the mall; I had a devil of a time getting away from her. Was that what she was trying to do? I am older than dirt and had other thoughts!
__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 12-18-2007, 01:08 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by UncleHoney View Post
Maybe it's just a little guilt feeling coming out.

People living paycheck-to-paycheck may be concerned about bumps in the road ahead. For many, one lost or delayed paycheck would be the end of life on earth as they know it and everything would come down around their ears in a few days.
What's that old saying? "50% of all Americans are 3 paychecks away from homelessness?
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 12-18-2007, 01:11 PM   #13
Dryer sheet wannabe
 
Join Date: Mar 2007
Posts: 24
Quote:
Originally Posted by Want2retire View Post
I have never been a journalist, nor am I on the inside.

I don't think there's such a thing as a T.V. journalist in my area. They cover the stories that people call in and tell them about, as long as covering them doesn't offend the wrong people. They don't seem to go out looking for stories independantly, at all.

I find the decline of genuine journalism in our lifetimes to be shocking.
If you turn on the news you see only what THEY want you to see or know about, the ticker type thing...that EVERY news station gets...its easy for the local stations to just read whats written for them to say...its all about the money, they don't have to pay for a reporter to go out and investigate a story of REAL interest! Foreign countries know more about what's really going on in the world today...even more about what WE'RE doing!
__________________
Babeebloos is offline   Reply With Quote
Old 12-18-2007, 01:18 PM   #14
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
Quote:
Originally Posted by TromboneAl View Post
"Yes, I'm cutting back this year, because I've heard that the economy isn't doing that well."

Now, unless that person expects to lose his/her job, that makes no sense, right?
reflects the credit culture and hesitation to buy today what they might not have the dollars to pay tomorrow.
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Old 12-18-2007, 03:01 PM   #15
Full time employment: Posting here.
UncleHoney's Avatar
 
Join Date: Aug 2006
Location: Columbus
Posts: 769
Quote:
Originally Posted by FinanceDude View Post
What's that old saying? "50% of all Americans are 3 paychecks away from homelessness?
And probably only 9 meals away from violence.
__________________
UncleHoney is offline   Reply With Quote
Old 12-18-2007, 03:47 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
 
Join Date: Oct 2003
Posts: 5,105
Quote:
Originally Posted by lazygood4nothinbum View Post
reflects the credit culture and hesitation to buy today what they might not have the dollars to pay tomorrow.
Might be an urban myth.
The truth about credit card debt - MSN Money
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Old 12-18-2007, 04:01 PM   #17
Recycles dryer sheets
barbarus's Avatar
 
Join Date: Aug 2007
Posts: 433
Are the j*bs (or income streams for those retired) for readers of this board so secure then?

Prudence yet again raises her ugly head and says, while it's unhealthy to dwell on the idea, at least remain vaguely open to the fact that you too may fall into dire economic circumstance.

For some, the prospect is quite distant, for others, imminent.

Merry (Christmas, Chanukah, Kwanzaa, Saturnalia, Jule and whatever) to all and to all a good night.
__________________
barbarus is offline   Reply With Quote
Old 12-18-2007, 04:11 PM   #18
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,094
Quote:
Originally Posted by barbarus View Post
Prudence yet again raises her ugly head and says, while it's unhealthy to dwell on the idea, at least remain vaguely open to the fact that you too may fall into dire economic circumstance.
Or get run over by a truck tomorrow...

As the guy told the cop who asked why he took a swing at a psychic after she laughed at him, "I'm just trying to strike a happy medium."
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 12-18-2007, 04:32 PM   #19
Recycles dryer sheets
barbarus's Avatar
 
Join Date: Aug 2007
Posts: 433
Quote:
Originally Posted by REWahoo View Post
Or get run over by a truck tomorrow...
Got the truck thing covered too Wahoo.
Every once in a while I practice shoveling coal.
__________________
barbarus is offline   Reply With Quote
Old 12-18-2007, 04:38 PM   #20
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,860
Quote:
Originally Posted by barbarus View Post
Are the j*bs (or income streams for those retired) for readers of this board so secure then?

Prudence yet again raises her ugly head and says, while it's unhealthy to dwell on the idea, at least remain vaguely open to the fact that you too may fall into dire economic circumstance.
My job really is that secure - - vested federal employee for years, top evaluations, recent promotion, tons of work, and 23 months short of retirement. I try not to take things for granted, and I know anything can happen, but it would take a real pessimist to worry about losing my job, given these circumstances.

Even so, I still worry (just not about being canned). I worry about hurricanes and catastrophic flooding, I worry about my health, I worry about whether or not I'll ever be able to sell my house so that I can move for ER, I worry about the possibility (that we all face) of undeserved lawsuits costing me millions and years, and a myriad of similar remotely possible things. But I don't worry about losing my job before then.

As for falling into dire economic circumstance, I lived on my own in the 1960's. I know how to survive dire economic circumstances. It's not FUN, but I know how to survive. I'm over-engineering my strategies to avoid ever falling into these circumstances again in my old age.
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Direction of US Economy James5v FIRE and Money 37 11-08-2007 07:55 AM
Anyone ever do the math on the economy of an RV vs. a motel? Cut-Throat Life after FIRE 109 03-26-2007 02:35 PM
snapshot of the economy Martha Other topics 9 06-09-2005 02:08 AM
Yep, the new economy laurence Other topics 15 06-07-2005 10:25 AM
Midwest Economy Gone Forever? wildcat Other topics 14 02-28-2005 06:34 AM

 

 
All times are GMT -6. The time now is 11:03 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.