by WildRose » Sat 27 Feb 2010, 00:09:20
$this->bbcode_second_pass_quote('phaster', '
')the more I look into this economic mess, the more I'm convinced that we're now in a post "peak expectations" economic climate at least here in the USA. In other words the rise of the huge middle class that characterized the 1950's to the 1990's in the United States first by use of industrial production, then start of the double income house hold (i.e. women entering the work force), and the maxing out of credit pretty much means the "american dream" of living large is going to be replaced with the harsh reality of waking up to the real world when people have to live within their means!
And that's when we'll see what the
real economy is, IMO. When purchases can't be made on credit, we'll know which businesses will survive and
which ones won't. The economy will no longer be buoyed by easy credit, it will shrink, and a lot of people will lose their jobs in retail and services, at least
that's my prediction.

But each family should then be able to determine what is really important to them (what they can do without) and may begin to
save some of their money (pay themselves first), like our grandparents did.