tag:blogger.com,1999:blog-20160325.post6439386350284521086..comments2022-12-11T06:49:09.876-08:00Comments on FeuerThoughts: How we fill the shopping mallsSteven Feuersteinhttp://www.blogger.com/profile/16619706770920320550noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-20160325.post-12766847567717714092008-07-22T12:55:00.000-07:002008-07-22T12:55:00.000-07:00Pathetic isn't it... wait! Not only pathetic, it i...Pathetic isn't it... wait! Not only pathetic, it is actually scary to think about where this consumer orientation could lead us. The depression of 1929 is the "great depression" we all talk about. But, if you look at economic history, you will notice that our country has sustained a depression every 60 years. What was different in 1929? Debt. Home mortgages. The roaring 20's were characterized by overspending. Therefore, when the depression hit, not only were consumers without reserves, they were financially upside down. Fast forward 80 years... time for the next cycle? Overdue. Thank you Roosevelt for legislation that has prolonged the inevitable. Someday, however, our spending has to catch up with us. I don't even want to think about what the next depression could look like. Can you imagine? We have so far eclipsed our grandparents in spending and debt... it is difficult to comprehend. If you are interested, take a look at this summary of <A HREF="http://www.kwaves.com/kond_overview.htm" REL="nofollow">KWaves and US economic cycles</A>.<BR/><BR/>Obviously, the problem isn't education. People are very educated, and very educated people can have lots of credit card debt. Doctors, lawyers, and CPA's all file for bankruptcy just as often as anyone else (probably more often because they have the money to make bigger mistakes). I believe the problem is character; issues like personal responsibility (lack thereof), pride, greed, etc. This is why my wife and I regularly lead the <A HREF="http://crown.org/ForChurch/Solutions/LifeGroups/LifeGroupStudyMain.aspx" REL="nofollow">Crown 10 week small group study</A>. In my experience, telling someone the "evils" of debt, showing them a budget, telling them to cut back, etc, really doesn't do much good. I've found that helping people identify the character issues (flaws) that manifest themselves as overspending is the best way to help people live within their means.Jim Marionhttps://www.blogger.com/profile/12995110203807924786noreply@blogger.com