• Are we NOW happy with Less? - The Economy

    The other day I was chatting with my son, Alex.. He deleted his facebook account, and is cutting out other instant messaging type programs that's he's grown up with.

    I was curious about why he would give up facebook.com especially because this type of program is meant for his generation.

    He indicated that he's grown up with internet, video games, TV, cell phones. He's getting tired of all of the programs and software that replace human interaction.

    I was intrigued by this.

    Growing up in the 60's and 70's, we didn't any of these modern tools and conveniences and toys. Nowadays.. the kids are flooded with them.

    The Point is:
    North Americans have had 20 years of free spending. We've bought what ever we've wanted, and are now slaving away to pay for the credit cards we used. We've had 20 years of endless consumption. We know what consumption is. We know that we can get what ever we want if we work hard enough for it. Learn more about capital gains

    We've been there, done that!

    I'm just wondering if people will be content to sit back and take a break for a while, consumption wise. This would be hazardous to the economy.

    Consumers need a rest. I'm sure alot of people are suffering burnout from trying to make payments on all of their debts. The satisfaction of getting that new 52" TV is gone, especially because many people have already purchased one and had that experience.

    My question is:
    As my son is tired of all of the new gadgets that he's been bombarded with his whole life.. are consumers tired of being in the buying / paying off cycle? Are consumers going to want to take a break from being on a continuous spending spree?

    An even more intriguing question:
    Are consumers going to be HAPPY with less?
    I don't mean "are they going to suffer, and put up with less?".

    I mean, "are they are actually going to be happier with less stuff, less debt payments, less noise in their lives?" These are some thoughts I've been having lately about the economy. If people are happy with less, then that will spell bad news for the current economy that relies heavily on consumer spending!


 
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8 Comments
On Apr 21, 2009, Defensive Driving Said:
It is no wonder, one would be happy with no debt or less of it. That would be really nice.
On Apr 5, 2009, Credit Reports Said:
Less debt? Who wouldn't be happy with that? But we have to learn to live on less and focus on the more important things in life. Less debt will surely follow.
On Apr 4, 2009, Business Logos Said:
I think people have forgotten HOW to live with less. This generation needs a reality check.
On Apr 2, 2009, monty loree Said:
lol...
If you are content with less... are you going to go into debt to get more stuff?

IE.... if a person is debt free... mortgage free... and has their car paid for, are they going to take on debt?

Probably not... the peacefulness of being debt free is NICE!
On Apr 2, 2009, Paperless Document Management Said:
I dont know that I would say that we are happy with less, but moreso greatful for what we have. Well, i guess that does lead to being happy with less, so yeah, good point :)
-Jack
On Apr 2, 2009, Monty Loree Said:
yes... I guess the point is... back 200 years ago.. people were alot more personable. they got their information from each other.. there was no telephones, tv, internet etc..

People relied on themselves for entertainment and social situations..
These days, you get all of your information and entertainment with out the involvement of another human being. That's kind of a lonely situation, if you ask me.
On Apr 1, 2009, tom Said:
Personally I am in my mid 20s now, and I am on facebook but I am not obsessed with it to the point I am on there half the day.
I don't participate in other social media sites, I have used twitter but that wastes a lot of time.

Cell phones, i only use it when I need it.

Video games, television, I dont pay attention to, I may watch tv shows but on the computer.

But i don't know how the rest of this generation will react.
On Apr 1, 2009, economist joe Said:
i think its that a lot of us are growing up with not enough social interaction and too much virtual interaction. we are starting to yearn for doing what normal people used to do. facebook is useful, but its pretty fake.

i recently bought a big tv too, something i always wanted to do but now the joy has faded quickly
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