Word: thrifts
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Dates: during 2000-2009
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...wealthy parents don't always grow up to be self-indulgent, feckless adults, just as deprived children don't always become driven overachievers. But literature and media are stuffed with rich-kids-gone-bad stories, and there's plenty of anecdotal evidence that cosseted offspring can lack the thrift, independence, ambition, persistence and entrepreneurial spirit that contributed to their parents' success. Most people have heard of the "shirtsleeves to shirtsleeves" curse, which holds that family wealth, once accumulated, is typically dissipated by the third generation because trust-fund babies, having little regard for the money that has come to them...
...That would eliminate the need for foreigners to fund our deficits. The hope is that as we sober up from our debt binge, we'll at least be able to do it ourselves. An era of thrift may be necessary now, but at some point, Americans are going to have to feel like spending again for the economy to grow. It's just hard to see, amid the current economic gloom, when that day will come...
...Frugal Life I commend Nancy Gibbs for using her column to state what we are unlikely to hear from any elected official: that thrift is an important virtue and that our failure to practice it has helped bring on the current economic collapse [Oct. 13]. Those who lived through the Great Depression endured a scare that prompted them to scrimp and save, something the current generation does not do. Now Americans generally believe they are entitled to whatever they want without regard to whether they can afford it. The list of what we have come to consider necessities would stun...
Trickle-Down Gluttony Kudos to Nancy Gibbs on her essay [Oct. 13]. As an early baby boomer, I was raised on the stories of thrift and sacrifice that came from my parents, who had grown up during the Depression and World War II. When George W. Bush suggested that the way to be patriotic after 9/11 was to go shopping, I was appalled. We have seen that message repeated over and over - including two incentive checks from our government so we could spend even more money we didn't really have. So excuse me if I have a hard time...
...Frugal Life I commend Nancy Gibbs for using her column to state what we are unlikely to hear from any elected official: that thrift is an important virtue and that our failure to practice it has helped bring on the current economic collapse [Oct. 13]. Those who lived through the Great Depression endured a scare that prompted them to scrimp and save, something the current generation does not do. Now Americans generally believe they are entitled to whatever they want without regard to whether they can afford it. The list of what we have come to consider necessities would stun...