Lets pick a few at random.
1) Fashion. Buying and changing clothes, cosmetics, cars, toys whatever on an endless basis.
2) Technology . The relentless changes in phones, computers, electronic gadgets.
3) Cars. Another relentless drive of consumption with change for changes sake and delibrate construction of excessive maintenance costs to keep up profits and encourage the purchase of new cars
4) Renovations. New kitchens and bathrooms every 10 years (or less) whether you need them or not.
5) Hyper promotion of all legal drugs. Sugar, grog, gambling, chocolate, smoking, a million treats.
6) Arms industry. Trillions of dollars spent on the most expensive ways to destroy the worlds population many times over.
Rumpy and VC, IMO you are both saying the same thing, just looking down the pipe from different ends.
You can be frugal and spend your money when you're older, or you can spend your money now and keep the economy ticking over.
The only difference is the one who spends his money now, has to be funded from the tax base later, the frugal one never has to be funded.
Good point.
Might put off the obesity crisis untill middle age too.
Rumpy and VC, IMO you are both saying the same thing, just looking down the pipe from different ends.
You can be frugal and spend your money when you're older, or you can spend your money now and keep the economy ticking over.
The only difference is the one who spends his money now, has to be funded from the tax base later, the frugal one never has to be funded.
Most of the Beer and spirts drank in Australia is foreign owed
Well, I can see VC's point and I think people should be more thrifty when they are younger. The big problem imo is the easy availability of credit, credit cards did not exist when I was a kid so people had to live within their means , even if it meant blowing their spare cash on beer and fags.
The banks are once again taking advantage of the stupid and greedy and I can see that there may need to be some regulation on credit card limits, as anti free market as that is.
I can assure you, I consumed all of those things even in my hyper frugal years
Taking 17 years to pay off a $2,000 credit card debt.
http://www.abc.net.au/news/2018-07-05/chart-of-the-day-credit-card-debt/9940612
The only people who should have a credit card, are those who don't need one.
The rest should have a debit card, if they can't afford to buy it, don't.
There ok if you pay them off in full every cycle I used to pay my quarterly bas with Amex and get some serious qantas points and the card surcharge was tax deductible lol
I like flying business class without paying the premiumIf you can afford to pay it off every cycle, you really don't need one, it is just a convenience.
Which is the way it should be.
It also shows you your spending patterns ......years ago it looked like an address book for metropolitan bottle shopsI like flying business class without paying the premium
What isn’t besides the service industry which survives on consumption
the economy adjusts, nothing is going to happen over night.I wasn't suggesting we don't "do anything" except eat brown rice and water. I was suggesting that here is massive over consumption in these areas.
Well, I can see VC's point and I think people should be more thrifty when they are younger.
And how does encouraging people to go into debt and spend to "stimulate the economy" help rectify the problem of losing Aussie owned businesses?
as I said it does nothing but make them look like more attractive investments to out siders, while the Aussie citizens are so swamped in debt and focusing on consumption that none of them are investing.
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