Re: Do we make to much money

Posted by oldtanker on February 26, 2017 at 22:08:10 from (66.228.255.59):

In Reply to: Do we make to much money posted by John in La on February 26, 2017 at 17:14:22:

IMO we do not make too much money. If I have the money to buy something it's no one else's business.

What's wrong it a lot of the world and why so many lead very poor lives is the country they live in. In many of these nations graft and corruption is running wild. The rich control everything and if a poor person comes up with an idea at best they are paid a few dollars for it if it isn't out right stolen. The former Soviet Union gives us a good lesson on that type of thing. When the wall came down technology wise they were very far behind us. If you as a Soviet citizen came up with an idea it was the property of the state. You might get a medal for it. So people just didn't bother. Sense then Russia had blossomed. People can profit from hard work and new ideas. Makes all the difference. Now a lot of what we call 3rd world countries don't do what the Soviets did but they still repress people so they can't advance. The governments control or lack thereof keeps the poor in their place. The example of South Korea and the advances they have made was great and shows what can be accomplished.

Us older guys were raised by parents who's financial decisions were a direct result of living through the Great Depression. Most who were old enough, kids into their teens who worked to help support a family during the depression acted differently than those who were too young to really remember it. But people did go with smaller homes. They were tighter with their money. They were very afraid of credit for the most part. Want a new TV? Save for it. That's what they did. Fast forward to the recession in the 80's. They kids who grew up through that wanted things and wanted them right now. Using plastic became the norm. Their kids are now in the work force. What did they learn from their parents? And houses started getting bigger in the 60's. And they have gotten much more expensive. But you also have to adjust for inflation. So the house my parents bought in NJ in the 50's new for 12 grand sold in 71 for 60K. Just looked it up, home like ours about a block away, same development 265K today! And that's a small home by todays standards, 1300 square feet. Several blocks away a new development went in during the 60's. The houses there were about 2000 square feet. Things were different in the rural communities. I know cause we move there when I was 16. First place no one was building developments. And rural people were a little more conservative with their money.

Times change. I see a lot of young people who are apartment dwellers who have storage units. Most in the dream of owning a home. Others because they have things like Christmas decorations and artificial trees and no where to store them. When they are full of furniture it's a waste. Little of it will ever be used again. But storing totes of summer or winter clothing, fishing gear and such for apartment dwellers is a problem.

Now what gets me and I wonder about the logic is apartment dwellers hoping to buy a home with 20K or better of car/truck sitting out front.

Rick

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