Sunday Morning question

[littledoggie]

Why are "young peoplekind" still, and are most likely, to support politicians that are promising more spending and more debt without a plan to pay it off?

WHY do we need MORE anyway, in this prosperous country! LOOK at what we have! And we STILL want more! Sick

[helmsdale]

How can you expect politicians to care about living within their means, when the regular folk think nothing of debt?

Want that new living room furniture? Put it on the Ho Ho Hold the Payments plan!

Want that new car? We'll set you up with 0% interest, over 84 months biweekly! Nevermind that you'll be "underwater" on that loan for the first 3 or 4 years!

Want that vacation you've always dreamed of? Put it on the credit card and worry about it later!

Want that new boat? No payments for the first year, then 72 months and it'll be yours!

The camper to go with it? DEALS DEALS DEALS, just put it on credit!

New Granite countertops and stainless steel appliances? Put er on the HELOC and worry about it later!

Hell I read an article the other day that millenials are putting new shoes and sweaters on PAYMENT PLANS!

Shit, even us farmers these days. Want that chunk of land you've always been drooling about? We'll put you on interest only payments, or blow the whole thing out of 35 years! Nevermind that the only way it's going to pay for itself for the duration of the loan is the capital appreciation you'll be able to loan against for the next great expansion...

Nobody ever reads, nor cares about the fine print. "Past performance not necessarily indicative of future returns"
So... when the politician says we'll give you this and that and we'll just put er on the credit card, you wonder why it doesnt resonate??? Nobody cares until they're forced to!

[helmsdale]

Nobody gave debt any serious consideration in the 70s and 80s either in this country... Until we damned near failed to clear our federal government bond sales!

Personally most dont give a shit about debt until that new car is hauled away in the dark of night, the boat is repo'd, or the banks come calling for the house keys!

[foragefarmer]

Helmsdale

Many good points in both posts. I don't know if you have children or not, but I can tell you mine do not fit your description of Millennials.

Living within ones means and nothing comes easy in life without hard work was drill in their heads from the get go.

I didn't invent the wheel on this philosophy, as I'm sure other posters have stated the same thing to their children.

One thing I will tell you, if and when the shit hits the fan my children will benefit from their up bringing in more ways than one!!


Hamloc

There hasn't been a fit leader of this country since Paul Martin. The guy knew what economics was about and knew the value of money. But that SHIP has sailed in both regards!!!

[helmsdale]

Helmsdale

Many good points in both posts. I don't know if you have children or not, but I can tell you mine do not fit your description of Millennials.

Living within ones means and nothing comes easy in life without hard work was drill in their heads from the get go.

I didn't invent the wheel on this philosophy, as I'm sure other posters have stated the same thing to their children.

One thing I will tell you, if and when the shit hits the fan my children will benefit from their up bringing in more ways than one!!

PSA: If we are using born between 1981 and 1996 as the period to define millenials, then I myself am one of the cohort.

Obviously there are those that fall outside the trend. But trends and patterns do exist.

Yes I have children. I hope I'm at least half the father to them, that mine was to me!

[farmaholic]

PSA: If we are using born between 1981 and 1996 as the period to define millenials, then I myself am one of the cohort.

If you never had kids, I was going to tell you to dry behind your ears.