Comments on: Life’s Goal http://blog.xanatos.ca/archives/482 Sun, 24 Jan 2010 20:52:41 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Cory Banack http://blog.xanatos.ca/archives/482/comment-page-1#comment-11405 Cory Banack Tue, 06 Jan 2009 07:36:48 +0000 http://blog.xanatos.ca/?p=482#comment-11405 Yeah, it's depressing if you look too closely. The biggest problem with credit has always been the same throughout human history: sooner or later it runs out. Just like countries and companies can't keep borrowing more and more, neither can people. We SHOULD have laws in place to discourage excessive borrowing, because that leads to massive economic problems (like what we are currently experiencing). We SHOULD NOT have political leaders encouraging us to borrow more in order to spend the economy back into health. When to start panicking? I dunno...I've been feeling kind of panicked for the last year or so! Yeah, it’s depressing if you look too closely. The biggest problem with credit has always been the same throughout human history: sooner or later it runs out.

Just like countries and companies can’t keep borrowing more and more, neither can people. We SHOULD have laws in place to discourage excessive borrowing, because that leads to massive economic problems (like what we are currently experiencing).

We SHOULD NOT have political leaders encouraging us to borrow more in order to spend the economy back into health.

When to start panicking? I dunno…I’ve been feeling kind of panicked for the last year or so!

]]> By: Curtis http://blog.xanatos.ca/archives/482/comment-page-1#comment-11402 Curtis Tue, 06 Jan 2009 04:29:35 +0000 http://blog.xanatos.ca/?p=482#comment-11402 It would seem to me our current economic climate/system contradict the whole "need to save for the future" philosophy. It is almost as if every facet of modern western society battles against us saving. We are a consumer-driven society more so than ever before in our history, so I find it amazing you can stand back and not be drawn into the whole thing. We are in a recession, and I hear economists talking about how lack of spending is causing the problem. I hear the prime minister express his disappointment with banks not offering mounds of credit to help stimulate the economy. Who needs credit if you have savings? Credit seems to be everything nowadays. Oh no! Times are going to get tough! Hey... what better way to solve it than flood the market with credit and get everyone to just spend more. Sounds logical don't it!?!? It really is scary when you stand back and think about it. Where are we headed? When should I start to panic? It would seem to me our current economic climate/system contradict the whole “need to save for the future” philosophy. It is almost as if every facet of modern western society battles against us saving. We are a consumer-driven society more so than ever before in our history, so I find it amazing you can stand back and not be drawn into the whole thing.

We are in a recession, and I hear economists talking about how lack of spending is causing the problem. I hear the prime minister express his disappointment with banks not offering mounds of credit to help stimulate the economy. Who needs credit if you have savings? Credit seems to be everything nowadays. Oh no! Times are going to get tough! Hey… what better way to solve it than flood the market with credit and get everyone to just spend more. Sounds logical don’t it!?!?

It really is scary when you stand back and think about it. Where are we headed? When should I start to panic?

]]> By: Ali http://blog.xanatos.ca/archives/482/comment-page-1#comment-11400 Ali Thu, 27 Nov 2008 02:21:39 +0000 http://blog.xanatos.ca/?p=482#comment-11400 Great point! And I'm seeing the truth to it all of the time. Yet another reason why 'saving for a rainy day' is useful as is 'paying yourself first' (in a savings sense). Great point! And I’m seeing the truth to it all of the time. Yet another reason why ‘saving for a rainy day’ is useful as is ‘paying yourself first’ (in a savings sense).

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