Why GenY Might Be Too Frugal

[reasonfreedom]

finance.yahoo.com/news/Why-GenY-Might-Be-Too-usnews-702815471.html?x=0

I seriously believe that the media should have some kind of restrictions on creating articles of BS. The only thing they got right in this article is that the economy is rough for Gen Y, yet I think it is manageable. Can somebody explain how being too Frugal is a bad thing. Can another person explain to me why there are fronting that buying a house or spending a ton of money on a college education is an investment right now?

[AgeOfEnlightenmentSCP]

In the twisted Keynesian world of liberals, spending-- even going into debt to spend-- is "good". Saving is "bad". Frugal has been a four-letter word for awhile now. I'm surprised you're just now noticing. Those who are frugal are considered enemies of the state. Remember we were going to defeat the terrorists by going to the mall? Saving has been "hoarding" since FDR outlawed the ownership of gold. Thrift isn't just utilitarian, we used to understand it as a moral value. Once upon a time we knew the truth-- thrift tends to liberate, debt to imprison. The borrower is slave to the lender, was once common knowledge.

[reasonfreedom]

Palmbeachpaul, Oh i knew about the frugality starting back about 10 years ago. I will admit I was apathetic during my teenage years or just having to much fun to notice. I was just suprised that the morons had the balls to create an article on it.

[AgeOfEnlightenmentSCP]

To get up to speed, you should try reading John Maynard Keynes' book, "General Theory of Employment, Interest, and Money". In it he makes the case that there's a "paradox" of frugality and said it "undermines prosperity". I mean this guy is a first class idiot. Anyone who advocates for anything resembling "Keynesian economics" should be greated at first by a burst of laughter, followed by disdain when it becomes clear they aren't actually kidding around.

Nobel Prize for Economics Winner Paul Samuelson noted that progressives had managed to turn things upside down (which is frankly what they do-- progressivism is nothing if not the effort to repeal natural law), "In kindergarten we were all taught that thrift is always a good thing...and now comes a new generation of alleged financial experts who seem to be telling us that black is white, and white is black, and that the old virtues may be modern sins"

[reasonfreedom]

I found that John Maynard Keynes basically hijacked a lot of ideas from John Law. The funny thing is that John Law had the habit of collapsing economies lol.

[swamp]

Mar 4, 2011 11:28:32 GMT -5 AgeOfEnlightenmentSCP said:

In the twisted Keynesian world of liberals, spending-- even going into debt to spend-- is "good". Saving is "bad". Frugal has been a four-letter word for awhile now. I'm surprised you're just now noticing. Those who are frugal are considered enemies of the state. Remember we were going to defeat the terrorists by going to the mall? Saving has been "hoarding" since FDR outlawed the ownership of gold. Thrift isn't just utilitarian, we used to understand it as a moral value. Once upon a time we knew the truth-- thrift tends to liberate, debt to imprison. The borrower is slave to the lender, was once common knowledge.

George Bush is a liberal? :

[973beachbum]

Mar 4, 2011 11:46:53 GMT -5 swamp said:

Mar 4, 2011 11:28:32 GMT -5 AgeOfEnlightenmentSCP said:

In the twisted Keynesian world of liberals, spending-- even going into debt to spend-- is "good". Saving is "bad". Frugal has been a four-letter word for awhile now. I'm surprised you're just now noticing. Those who are frugal are considered enemies of the state. Remember we were going to defeat the terrorists by going to the mall? Saving has been "hoarding" since FDR outlawed the ownership of gold. Thrift isn't just utilitarian, we used to understand it as a moral value. Once upon a time we knew the truth-- thrift tends to liberate, debt to imprison. The borrower is slave to the lender, was once common knowledge.

George Bush is a liberal? :

[AgeOfEnlightenmentSCP]

Here- let's read more Keynes- because I've read a LOT. You know economics is what I studied undergrad, right? I have a book full of relevant Keynes quotes because they stood out as remarkably foolish, so a compiled a list of the most idiotic ones.

"The morals, the politics, the literature and the religion...[of the 19th Century] joined in a grand conspiracy for the promotion of saving."

"God and Mammon were reconciled. Peace on earthto men of good means. A rich man could, after all, enter into the Kingdom of Heaven-- if only he saved"

Keynes clearly and strongly believed that the sole objective of ALL economic activity was CONSUMPTION. Gee, does that seem familiar? Isn't that a big dot to connect?

His economic philosophy is so convoluted, and yet it was simplified and explained by Journalist (economist) Henry Hazlit: "How marvelous is the Keynesian world! The more you spend, the more you have. The more you eat your cake, the more cake to eat!"

In 1934 Redbook asked, "Can America Spend its way into recovery?" Keynes response? "Why, obviously!...No one of common sense could doubt it unless his mind had first been muddled by a 'sound' financier or an 'orthodox' economist".

"The decadent international but individualistic capitalism in the hands of which we found ourselves after the War, is not a success. It is not intelligent, it is not beautiful, it is not just, it is not virtuous-- and it doesn't deliver the goods. In short, we dislike it, and we are beginning to despise it...." -- John Maynard Keynes.

And now you see his true colors. He is just another ash-heap-of-history, God-hating, athiestic, communist spouting the trite old psuedo-intellectual drivel. He believes in the communist mysticism that if the "people are on both sides of the balance sheet" as Keynesian economist Stuart Chase believed, then the "nation can hardly go bankrupt".

[AgeOfEnlightenmentSCP]

Um, yes. George W. Bush was, is, and will always be a progressive.

[swamp]

Mar 4, 2011 11:53:43 GMT -5 AgeOfEnlightenmentSCP said:

Um, yes. George W. Bush was, is, and will always be a progressive.

That's a much nicer word than I have for him.

[AgeOfEnlightenmentSCP]

And it might surprise you to learn that Herbert Hoover (R) was the grandfather of the 'New Deal'. His interventionist, big government, trade-protectionist policies got us into the depression which was only made "Great" by FDR continuing and greatly expanding the failed policies of Herbert Hoover. Herbert Hoover is to FDR what George W. Bush is to Obama.

[floridayankee]

Mar 4, 2011 11:28:32 GMT -5 AgeOfEnlightenmentSCP said:

In the twisted Keynesian world of liberals, spending-- even going into debt to spend-- is "good". Saving is "bad".

DS (a Gen Y'er) recently learned first hand the benefits of saving. Whenever he'd need something done on his car, DW would always pay for it and get paid back on his payday.

DW and I had been on his ass to start saving and he kept putting it off. When he had a tire go bad o his car, he couldn't afford to replace it. Of course DW was going to front the cash again. Since I was sick of having the "savings" talk and he could have cared less, I nipped it one in the bud. He bummed rides to/from work until payday as well as to the tire shop with his bad tire since the car wasn't drivable.

Three+ months later, he has quite the little savings account built up and I think he likes seeing it build up.

Frugal has been a four-letter word for awhile now. I'm surprised you're just now noticing. Those who are frugal are considered enemies of the state.

DW and I are far from frugal. We'll take on debt for major items such a house or her new car, but for other items, we simply save for them.

Once upon a time we knew the truth-- thrift tends to liberate, debt to imprison. The borrower is slave to the lender, was once common knowledge.

No, no, no...the borrower is the victim. Why do you think they passed the credit CARD Act?? Us victims must be protected from the evil CC Companies.

Surprising enough, It worked too. Half of our cards were closed by the cc companies, a few were closed by us because they started charging fees and the rest jacked rates up near 20%. That protects us because now we only use one that is paid off monthly.

[BeenThere...DoneThat...]

<<< I seriously believe that the media should have some kind of restrictions on creating articles of BS. >>>

...much as it pains me to support BS, I do like free speech...