Tuesday, March 08, 2011

The Drpression Generation

Most of us of the boomer generation came from parents born in the depression era. Our parents knew what it was like to live from hand to mouth. They knew what it was like to have little and the appreciated what they had. They knew hunger and desperation. After the depression ended they continued with the depression mindset and became a generation of savers and many of them amassed fortunes.

I was talking with Zoom-Zoom (formerly The Blue Mamba) today. We had both seen the segment on 60 Minutes last Sunday about the children who are currently living through our present depression. These are children who have parents that lost their jobs. Many are living in cars, or motels or with neighbors. It was very sad to see these good, very articulate kids who seem mature beyond their years living in these bleak conditions.

When the show was over I realized that one day these kids will come out of all of this like our parents and grand parents did with a new understanding of the economy. They will probably become great savers that will live within their means like many of those who lived through the Great Depression and survived.


Blogger darev2005 said...

Well, I hope something positive comes out of it. For the most part, it's just been a bugger-all of a time. I'm glad I found myself a depression proof job. And I've been there long enough now to have tenure if anything worse happens.

6:16 AM  
Anonymous Uncle Walt said...

Ironically, I was reading an article by a "financial advisor" the other day, who was saying that the younger generation are "saving too much". His "reasoning" was that people shouldn't be saving so much, because it takes money out of the economy. While I could see his point to a degree, I was amazed that anyone would go to a "financial advisor" who encourages them to get in debt.

11:10 AM  
Blogger mark said...

You hit the nail on the head. We're in the process of changing to a nation of tightwads after a decade of spending like drunken sailors. This is bound to hurt a little.

7:09 PM  
Anonymous Anonymous said...

I am seeing the younger generation in my company not only being much thriftier than the previous generation, but they are also choosing to be childless. Most of the 20 and early 30s folks either do not want kids or just 1, eventually.

7:43 PM  
Blogger The Guy Who Writes This said...

Darev, time will tell.

Walt,Saving can be an obsession, but my hat goes off to those that get away from consumerism.

Mark,It may hurt some industries that produce meaningless crap, but people are still going to need to buy the essentials.

Anon, now that is a real time bomb when you realize that our economy is basically a functional pyramid scheme.

5:15 AM  
Blogger Mr. Natural said...

I remember MY folks telling me "when the price of real estate starts going down is the time to get busy in your garden." Too true, eh? Our home is paid for, but essentially worthless now, thanks to the banksters and wall street criminals...

10:14 AM  
Blogger The Guy Who Writes This said...

Mr. Natural, Good advice! I've never heard that one before, but we are always busy in a garden or greenhouse.

10:50 AM  
Anonymous Anonymous said...

As this government goes, the children will probably find themselves even poorer than their grandparents or parents. The disparity between the haves and have nots will eventually lead to revolution in this country as it has in so many other countries. The American middle class and the American dream are gone forever.

8:54 PM  

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