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Does anyone see any positives to our new economic conditions?

I do. IMO, with the economic downturn, many people are consuming less of everything either by choice in order to conserve money or because of lack of liquid funds. This reduction in consumption causes a decrease in use of natural resources including energy. Obviously, decreased consumption does have an initial negative effect on the economy. However, overtime, IF this is truly our new economic reality, with limited jobs and higher levels of unemployment, the new mentality of getting by and using LESS of everything is a positive, IMO- Thoughts?

 
Sisteract

Asked by Sisteract at 3:00 PM on Jan. 18, 2011 in Money & Work

Level 36 (80,388 Credits)
This question is closed.
Answers (6)
  • No I think that is flawed thinking only because only the poor and middle class are using less. The rich and corporations are still using what they did before and they can use alot more then we do. We need to have a better economy so we can compete with other countries who are going to fly by us in every way (education, technology etc). It is putting us in a a situation where only a certain % has anything and can get what they want, and turning the rest of us into slave labor.
    We need real change. Real recovery. We need to be able to know we can give our kids the same change of an American dream our parents had. Its done for us. Were probably forever screwed. But I want more for my kids.
    Anonymous

    Answer by Anonymous at 3:03 PM on Jan. 18, 2011

  • I agree with you OP! I think alot of generation X and Generation Y don't know what it's like to go without. The new generations have always lived in times of prosperity and want. Even I am guilty of feeling overconfident in my finances and overspending. The housing prices were so inflated for so long, the we were convinced we were wealthy in a way. We were able to have false confidence that our 'equity' was considered 'savings'. After the crash, I think many Americans were forced to see the reality, and the reality is that stocks, equity, and posessions are not weath/security. Money in the bank is the only foolproof way to have security. That ideal is what has moved folks to stop living beyond their means, save, be frugal, appreciate the almighty dollar, identify needs over wants, & get over the whole 'keeping up w/ the Jonses' sillyness. It's a new day! Now, if we can just get the Govt. to open their eyes as we have
    kenzie07

    Answer by kenzie07 at 3:44 PM on Jan. 18, 2011

  • Yes, A ton of positives! The industry which I work in is booming! Many are learning how to be a "rich woman". Many "waking up".
    IraqiVetWife

    Answer by IraqiVetWife at 3:55 PM on Jan. 18, 2011

  • My DHs pay was cut in 2009, as were bonuses. Those have not come back. I lost my job in June of 2010. So, honestly- NO.
    Anonymous

    Answer by Anonymous at 5:13 PM on Jan. 18, 2011

  • In a lot of ways it is positive. But like you said, in the short run it actually does more damage to the economy.
    Erica_Smerica

    Answer by Erica_Smerica at 5:37 PM on Jan. 18, 2011

  • I'm really sorry that happened to your DH, Anon. I feel really terrible for the folks who are struggling. But I'm reminded of another positive. My DH has be absolutely miserable at his job since the downturn. His company cut out raises, insurance costs went waaay up, people were being let go daily and those that remained had their jobs threatened constantly. It was those things that lit the fire under DH to start looking for another job after 14 years of loyal service. He now works for a dream company, we have family time (he no longer works nights), benefits are amazing, incentives galore, and his stress level went from a 10 to practically nil. I know there are those who weren't so fortunate, but for some like us, it has motivated us to strive for a better life :-)
    kenzie07

    Answer by kenzie07 at 5:50 PM on Jan. 18, 2011