"Living" the Beverly Hills way.

[thunderdownunder]

It's just an overview of what we know. It is however is well written/ researched and a cold shower. Do you really think any developed Fire economy can rewind and replay the music that was sweet to the ears. It will be a long, long Cold Winter indeed before any Spring thaw and real green shoots pop through.

http://www.financialsense.com/editor...2009/0909.html

It just seems unfair that the financially astute and frugal are getting "hit" to pay for the fools and their dream paradise built on the sands of easy credit.

[don]

Re: "Living" the Beverly Hills way.

A return to the daze of yesteryear's bloated opulence seems unlikely. The other question is, how likely is it that FIRE will take its foot off the throat of production/consumption here at home. Even more unlikely :eek:

[cjppjc]

Re: "Living" the Beverly Hills way.

Don when I saw the headline I was sure you had posted this. ;)

The ego has reinvented itself through money. Now the ego will have to find something else. On one level this was both hard to read and pointed to the false prosperity many think has been happening for a long time. On another level it scares me.

[rjwjr]

Re: "Living" the Beverly Hills way.

A return to the daze of yesteryear's bloated opulence seems unlikely. The other question is, how likely is it that FIRE will take its foot off the throat of production/consumption here at home. Even more unlikely :eek:

All due respect, your comments completely miss the moral of this tremendous editorial.

A return to bloated opulence isn't merely "unlikely", it's imperative that we NOT return to it. It's imperative that the theme of this editorial become the basis of education for ALL consumers, especially the current monthly-payment slaves.

Further, it's not a matter of waiting for FIRE to remove its foot, it's imperative that we NOT allow FIRE to trap or trick consumers with cheap money ever again. This is within our control. It will take education, knowledge, understanding - and then - sacrifice and self-discipline.

Those are the moral imperatives that comprise the basis of this editorial. James Quinn has hit the nail on the head with his simple, clear, honest insights. His efforts and his message deserve respect and intelligent consideration.

The generation that lived through the Great Depression became a frugal, financially conservative, self-reliant generation that laid the foundation of productivity, sacrifice, savings, and wont of a better life for their children that became the backbone of our generation's excess. If nothing else comes out of this current and worsening economic turmoil, maybe the next generation will learn from our greed and financial idiocy. In the meantime, our current leaders have learned nothing. True "change" is up to us as individuals...as Mr. Quinn has so deftly opined.