How greedy are we,you tell me?
By ella1bella
@ella1bella (839)
September 19, 2008 11:39am CST
The worlds economy is in a state of decline,the depression loom nearer,the world banks are strugging to keep afloat.First of all there was the collapse of Northern rock,since thenwe have gone on,and AIG have now been financially bailed out,Lehmans have gone to the wall,parts of it have now been rescued by a Barclay takeover.The stock market was in despair,and has started to pull back now.But is it us ,as people ,expecting too much from life,wanting things too quickly,willing to wait for nothing,we can have it and pay for it later.Has the buy now pay later world that we live in been the downfall of anyone close to you,or anyone you know,and do you think as a world that we are simply greedy?
2 responses
@Rachel85044 (426)
• United States
19 Sep 08
I don't think we are greedy, and I am not sure if buying now is the entire problem. Its probably part of it. But its been that way for several generations. Personally I think we need to spend to keep our economy going, and I think the housing scare, the war and all the other factors over the last few years have caused people to be more careful with there spending. Us not spending has cause our economy to go into shock!
1 person likes this
@ella1bella (839)
•
19 Sep 08
Im pretty sure that the generations as far back as seventy years ago didnt do the buy now pay later thing,but yes we do need to spend to boost the economy,but if we borrow to spen and then cant repay the borrowings it all become a vicious circle.But there is one sure thing that comes from all of this,the shareholdres will be reaping good rewards at the end of this latest shake up!
@Rachel85044 (426)
• United States
19 Sep 08
I am not sure about that I know my Grandparents who are in there 70's financed everthing! I think this was the start of it with that generation.
@sweethomecatring (1563)
• India
19 Sep 08
Most people have nothing to do what is happening in the banking sector or insurance sector or the stock market but they bus to watch their own vested inters. If the people start thinking about the nation as a whole , none of the country will remain poor and in need. I think the nationality is loosing in every country and only that country will survive which has its own people after.
@ella1bella (839)
•
19 Sep 08
Maybe togetherness as a notion is something that we are all very bad at,whereas we need to offer help and support to others we turn tail and run,we are scared of helping others.I agree that everyone looks after their own vested interests,and there are many who are just using the ostrich syndrome,simply because its the easiest way out.Debt is at an all time high,unemployment is at an all time high,the highest for te last decade here in the UK,but there are many people that are burying their heads in the sand,and instead of going and seeking debt advice or contacting their creditors asap,they are just letting it all ride,they need to start sorting the problems out as soon as they arrive on the door mat,dont leave them to fester.
