Study - Gen X'ers are not savers, they are spenders.

[Deja Q]

Hmmm, why does MSNBC bash them? Consumer spending keeps the economy afloat. The Gen X category (and now younger) are the ones spending.

http://www.msnbc.msn.com/id/21083120/


I've put money into my retirement account, but am more worried that'll be stolen by a cheating executive.

Aren't 401k and other such funds essentially long-term gambling anyway?

And with more boomers retiring, isn't it odd that MSNBC has posted this one, and other articles talking about saving investing rather than spending?

[Hydra]

1. I'd save if I could

but all my money goes out the door for essentials. If they want me to buy toys and vacations, they'd better give me a higher wage or more job options.

[Deja Q]

3. But "Nobody owes anyone anything".

Just ask Bing.

There's a huge discontinuity somewhere. Spending saves the economy, so don't spend - invest. People feel they're owed, but nobody owes anyone anything. Until those who say it need help, so then they spin words to make it sound like it's a valid exception. Heh, you can't get more pithy than "Nobody owes anyone anything", right Bing?

What next, the working class will be blamed when consumer spending drops?

Never mind all the factors I'm not including; mostly out of forgetfulness, but the rising cost of gas isn't easily forgotten.

Alternatives exist and more people should make use of them when possible. IMHO, of course.

[Hydra]

10. The companies I've worked for feel they're owed the sun, moon and stars

for them to offer nothing in return gets them nothing. And no luxury spending on my part. I'm just glad I never got sucked in to using credit cards...too bad I got the car loan.

[knitter4democracy]

2. I have a 403b. It's tanked.

Hubby's retirement isn't doing all that great, either. We are having trouble saving with our high medical costs, but we're working on it. We need to save up for the kids' college bills. *sigh*

[Deja Q]

5. Prayers and best wishes for you in all things.

There are plenty of good people in this country who are needlessly hurting. :( Some bad people too, yet our society likes to give them a pedestal and praise and reward them every time they do something stupid. Mind you, it's almost ironic how Britney Spears' initials just happen to be "B.S."...


(Please don't take the "P-word" there as an insult.)

[knitter4democracy]

14. Nope. I'll take all the prayers and best wishes we can get.

:)

We're not hurting badly enough yet for me to be really stressed, but I sure didn't think that we'd be this tight now that Hubby's an attending. We pulled the kids out of the Catholic school (couldn't afford it anymore), I'm tightening up everything in the family budget, and we're still not as far ahead on our bills as I'd like. *sigh*

[msongs]

4. my neighbors ( college students) got green tagged by the city for failure to pay

their utility bills, the gas company was there 2 days ago to shut off service but relented under promises to pay. They spend huge amounts of money on alcoholic parties, have cable (which they pay first), and 2 non-working cars in the lawn area of their front yard.

obligations are at the bottom of their lists.

Msongs

[Deja Q]

7. The world is made up of all types.

:(

Still, I don't know what led to their drinking either; maybe they gave up hope and guzzled away while watching everything rot. 10 years ago I wouldn't blindly give people sympathy. These days it's a bit easier to.

[Atman]

6. Why the hell not? When your cash is worthless, you can trade your stuff for food.

And you know the scary part? I'm not really even kidding.

.

[Deja Q]

8. You saw that new "Pawn America" commercial on TV too?

Sadly, that's the name of a local pawn store. There is a sickening double entendre if you think about the general phrase "Pawn America" long enough...

[Atman]

9. No I didn't. Oh god...there is seriously such a commercial?

We're so fucked.

.

[alarimer]

11. I remember when pawn shops used to be in the worst parts of town

Now they are in typical suburban shopping malls. Although I guess that's maybe because you can sometimes find good deals there.

[SoCalDem]

13. Strip mall near us.

Payday loan place
tanning salon
donut shop
tobacco store
pizza take out
bodega (lottery tickets/mini-mart/booze
cell phone place
another payday loan place
tattoo place
bottled water store :wtf:
small restaurant (new mgtmt/genre changes semi-annually)
alterations place
pet grooming place
HUD/repo homes list place

:puke:

[marmar]

12. That was true of me until this year.....Not anymore.

This Gen-Xer will not be feeding the beast this year.