[kimba01]

Originally Posted by JackieB23

I feel so sorry for my kidlets - their standard of living is going to suck compared to ours.

I feel bad for the kids too. Mine are going through it now. But, we have to remember that our standard of living became hugely bloated fast, not gradually from what our parents standards were.

I know that I am at least somewhat guilty of buying things we could have really lived just fine without. My parents did not. They just didn't. We got second hand things such as bikes, electronics, clothing, toys. They did not run out and buy the latest and greatest of anything, even cars. Yet, my generation and the ones that followed did. It is a throw away life we have been accustom to living.

So, yes, if they want to have good basics, (house, running vehicle, food, heat, elec.) they are going to have to cut back on the extras-fancy phones with all the extras, every new game unit and the newest games, cars, clothes...will be tough for them because they will be going backwards as opposed to the kid in the candy store I was sometimes!! (and I consider myself relatively frugal, but every once in a while, I did splurge!)

[JackieB23]

Originally Posted by kimba01

I feel bad for the kids too. Mine are going through it now. But, we have to remember that our standard of living became hugely bloated fast, not gradually from what our parents standards were.

I'm finding that, except for house size, I'm living materially no better than my parents did. I drive old cars, my stuff is mostly on the cheap or saved up over time, and I don't carry tons of debt.

I know that I am at least somewhat guilty of buying things we could have really lived just fine without. My parents did not. They just didn't. We got second hand things such as bikes, electronics, clothing, toys. They did not run out and buy the latest and greatest of anything, even cars. Yet, my generation and the ones that followed did. It is a throw away life we have been accustom to living.

I don't do that either, for the most part - I'm the queen of thrift, baby!

So, yes, if they want to have good basics, (house, running vehicle, food, heat, elec.) they are going to have to cut back on the extras-fancy phones with all the extras, every new game unit and the newest games, cars, clothes...will be tough for them because they will be going backwards as opposed to the kid in the candy store I was sometimes!! (and I consider myself relatively frugal, but every once in a while, I did splurge!)

The thing is, what you and I think of as basics are different than what our parents and grandparents though of as basics, and what our kids will think of as basics in the future (for example - is a phone a "basic" or not? A TV? A computer? A microwave? - the last two I did not have in my house growing up!)

The question is, whatever a "basic" is - how much of their income will be spent in maintaining it?

I think they'll end up paying a larger percentage of their incomes on such things, plus taxes (which are going to be outrageous for them) than we do today, and that's the conswquence -less disposable income = less wealth to go around (less opportunity to create wealth too).

[KillerStephen]

Originally Posted by jjameson922

Your optimism is refreshing but you're young and still believe everything is possible. I agree with you about the negativity and bashing. That accomplishes nothing. As you get much older, you will see there comes a time when a person feels totally boxed in. No matter which path you figure out to take, there's always a roadblock. Try having a spouse who is dying of cancer, a house that will not sell, a mortgage that takes 80% of your monthly income leaving only enough for minimum groceries, no health insurance, friends and family who have all moved away and month after month of ongoing winter weather and it takes all one has to get out of bed every morning. Hopefully you will never face any of these things and you can always maintain your sense of happiness.

Ive had plenty of bad times, trust me. I havent been spoonfed like some who post here alot. I dont drive a Lexus. I believe everything is possible cause it is. You wanna hear bad times... the year I moved to California from Texas, I made $12,000 before taxes in California. Those were tough times. If anything thats probably why I sound harsh, Ive been through tough times and know what it takes. When someone feels boxed in they need to realize thats what it is, a feeling. Its all about inner strength, and since I live by sayings... "It gets darkest before dawn."

[kimba01]

Originally Posted by JackieB23

I'm finding that, except for house size, I'm living materially no better than my parents did. I drive old cars, my stuff is mostly on the cheap or saved up over time, and I don't carry tons of debt.



I don't do that either, for the most part - I'm the queen of thrift, baby!



The thing is, what you and I think of as basics are different than what our parents and grandparents though of as basics, and what our kids will think of as basics in the future (for example - is a phone a "basic" or not? A TV? A computer? A microwave? - the last two I did not have in my house growing up!)

The question is, whatever a "basic" is - how much of their income will be spent in maintaining it?

I think they'll end up paying a larger percentage of their incomes on such things, plus taxes (which are going to be outrageous for them) than we do today, and that's the conswquence -less disposable income = less wealth to go around (less opportunity to create wealth too).

In regards to the basics, I agree. But, unless their employment requires it, they could get away without a computer, although it stinks, but since it requires monthly fees for internet, it would be one less bill. Cell phones, I don't know. If you had to you could. I feel lost w/o mine, but I survived w/o one for a long time even with babies. I do understand what you mean, but I know that I made many sacrifices (and still do)not having the most current or best of things and got along fine. I should probably go back to that. Get rid of the phone, the computer, cable tv, hmmm, what else can go...? I'm sure there is more.

I think I went through a period where I wanted to finally get things "new" and "in". That faded quickly as it just really is not my mentality. I wasn't raised that way and I guess my parents are sitting on my shoulders telling me not to get "it"!! I just think even if I had Oprah's money I would still be looking for sales and comparing prices!

[Golfinnova]

Originally Posted by kimba01

In regards to the basics, I agree. But, unless their employment requires it, they could get away without a computer, although it stinks, but since it requires monthly fees for internet, it would be one less bill. Cell phones, I don't know. If you had to you could. I feel lost w/o mine, but I survived w/o one for a long time even with babies. I do understand what you mean, but I know that I made many sacrifices (and still do)not having the most current or best of things and got along fine. I should probably go back to that. Get rid of the phone, the computer, cable tv, hmmm, what else can go...? I'm sure there is more.

I think I went through a period where I wanted to finally get things "new" and "in". That faded quickly as it just really is not my mentality. I wasn't raised that way and I guess my parents are sitting on my shoulders telling me not to get "it"!! I just think even if I had Oprah's money I would still be looking for sales and comparing prices!

If I could give you +3 reps Kimba, I would in a heartbeat I was driving around Eastern the other day and I stopped by a Goodwill store just to kill some time before an appointment. I was amazed at what was for sale in that store. Aside from the clothes were fairly brand new 3 in 1 fax machines, cordless phones, heaters, etc. We definately have become a throw away society in that we need the latest and greatest no matter the cost.

Yesterday, my wife and I looked over our expenses and we found a lot of things that we could cut that combined will save us over $300/month such as eliminating Skinemax from the cable lineup, stopping text messaging on the cell phones, getting rid of a second e-mail address, dropping down to the next level of phone service. I would advise anyone to take a hard look at your bills especially cable, credit card, insurance, cell phones, etc.

BTW, if you're not already listening to him, listen to Dave Ramsey either on the radio or the Fox Business Channel. The guy gives great sensical advice to everyday financial issues that could help all of us.

[olecapt]

Originally Posted by thetalentedmrdiamonte

If Las Vegas' economy was diversified in the first place then we wouldn't even be discussing the cancelation of companies' conferences here.

Like Los Angeles...which is getting hit harder than Las Vegas? Or the rust built which was well diversified and is now faced with the task of reinventing itself?

It is just not that simple. Notice the recent call center. Coming to Las Vegas for our bi-lingual capability. They are really looking for Spanish speakers.

I can see diversification in Las Vegas...but it will all be blue collar. There is no great rationale for locating anything else here and there are alternatives for anyone who would consider it. The tourist business is going to be the drinving engine for a long, long time.

[dano]

I don't believe Vegas will ever be "diversified" and I don't think it should try. It's akin to a 40-year old trying to fit in clothes they wore when they were 16 - just ain't gonna happen. I prefer to think of Las Vegas as a "specialist" city that is exceptional at attracting 30 million plus people annually to drop lots of money for the locals to soak up.

[kimba01]

Dang, so I should give up my teen clothes??? I was thinking maybe one day...

[jfkIII]

I guess it's finally time to get rid of those leisure suits in the back of my closet.

[thetalentedmrdiamonte]

Originally Posted by dano

I don't believe Vegas will ever be "diversified" and I don't think it should try. It's akin to a 40-year old trying to fit in clothes they wore when they were 16 - just ain't gonna happen. I prefer to think of Las Vegas as a "specialist" city that is exceptional at attracting 30 million plus people annually to drop lots of money for the locals to soak up.

That's what Michigan said about the automobile industry now looked where it got them? There's a real reason why Nevada state government is scrambling to fill a $2.5 Billion dollar budget shortfall.