The economy cannot be sustained indefinitely; the pattern of ups and downs support in history supports this.
Skittish consumers and conglomerate businesses can only have so much growth before the money that is in the system just does not exist to sustain it.
The current recession is one being faced by a much younger workforce for the very first time - in this, not many people realize the gravity of the situation.
Talking to the generations before, it is easy to see that spending was always limited to the means of the person - credit and debt were avoided at all costs - baby boomers saved from the moment they got their first jobs and throughout their careers to ensure they would have money for retirement and to raise their children.
Gifts were carefully bought without excess and houses were bought and the mortgages quickly paid off.
This is not what is being seen in today's mindset.
Newly educated people are introduced into the workforce and in turn spend that money and their credit on the newest gadgets, cars, expensive vacations and gifts.
There is no concept of saving unlike our counterparts from decades ago.
A life of excess is the life that everyone wants - no matter the cost.
This is the thinking that is affecting the global economy in a way in which it may never recover.
The recession is now heading into its second year.
Companies continue to lay off more employees, money continues to be lost in the stock market and businesses are being to fail.
It is no surprise that those businesses which continue to do well as those which offer necessities such as foods, services and repairs.
No longer is it feasible to buy a new vehicle when a repair costs only a few hundred dollars - even with massive discounts on vehicles, companies such as General Motors and Ford cannot continue to be sustained with the hundreds of thousands of people who are being laid off, cannot find work or are learning for maybe the first time in their lives that saving money - even meagre amounts can be extraordinary in both peace of mind and also in financial security for the uncertain future.
With businesses continuing to take drastic measures to survive such as letting employees go, slashing wages and declaring bankruptcy, it is only prudent that we take a look at the mindset of the previous generations.
We have borrowed fashion, movies for remakes and slang but never the sensibilities of our generational counterparts.
Recessions are inevitable - history has taught us that much - but our preparedness to weather those which have yet to strike will threaten us and our new livelihoods less and help us reach our potential and stop the cycle of dept, overspending and living beyond our means and most importantly, stop our children from reliving our mistakes.
Skittish consumers and conglomerate businesses can only have so much growth before the money that is in the system just does not exist to sustain it.
The current recession is one being faced by a much younger workforce for the very first time - in this, not many people realize the gravity of the situation.
Talking to the generations before, it is easy to see that spending was always limited to the means of the person - credit and debt were avoided at all costs - baby boomers saved from the moment they got their first jobs and throughout their careers to ensure they would have money for retirement and to raise their children.
Gifts were carefully bought without excess and houses were bought and the mortgages quickly paid off.
This is not what is being seen in today's mindset.
Newly educated people are introduced into the workforce and in turn spend that money and their credit on the newest gadgets, cars, expensive vacations and gifts.
There is no concept of saving unlike our counterparts from decades ago.
A life of excess is the life that everyone wants - no matter the cost.
This is the thinking that is affecting the global economy in a way in which it may never recover.
The recession is now heading into its second year.
Companies continue to lay off more employees, money continues to be lost in the stock market and businesses are being to fail.
It is no surprise that those businesses which continue to do well as those which offer necessities such as foods, services and repairs.
No longer is it feasible to buy a new vehicle when a repair costs only a few hundred dollars - even with massive discounts on vehicles, companies such as General Motors and Ford cannot continue to be sustained with the hundreds of thousands of people who are being laid off, cannot find work or are learning for maybe the first time in their lives that saving money - even meagre amounts can be extraordinary in both peace of mind and also in financial security for the uncertain future.
With businesses continuing to take drastic measures to survive such as letting employees go, slashing wages and declaring bankruptcy, it is only prudent that we take a look at the mindset of the previous generations.
We have borrowed fashion, movies for remakes and slang but never the sensibilities of our generational counterparts.
Recessions are inevitable - history has taught us that much - but our preparedness to weather those which have yet to strike will threaten us and our new livelihoods less and help us reach our potential and stop the cycle of dept, overspending and living beyond our means and most importantly, stop our children from reliving our mistakes.
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