I’m composing this post on a Blackberry while in the woods of New Hampshire, so apologies for any sloppieness!
This weekend has given me an opportunity to read several articles on the state of Fed as well as a post by Paul Kedrosky on why the tech sector may not be immune to a recession.Overall I’m not as optimistic on the economy’s outlook as I was several months ago. Indeed I am border line worried.
At my grandfather’s 90th birthday dinner last night he spoke about the difficult economic conditions he grew up in during the 1930’s and then treated us all to dinner. He paid in cash and made a joke asking someone to jsutify why he should pay $26 for a piece of fancy salmon, afterall this was New Hampshire, not Manhattan (what a guy!)
I think the mindset of my grandfather, a man who worked until 85, never used credit cards and above all else valued education and personal relationships is one lost on my current generation.The fear of going without or not be a “super power” is not something that has ever been of concern to us. I think the New York Times article suggesting that our generation is too enamored in video games to pay attention to politics is a mite extreme but it’s rooted in truthfulness nonetheless.
Bernake and President Bush’s plan to issue new tax relief may, in my opinion, add to the problem more than help it. Cheap money and material items are the mindset of debt ridden America and it frightens me. I think we’d all be wise to learn from my grandfather and his generation, a generation who voted, saved and innovated on a level unseen in decades.
Here are more recent posts of mine on the state of the economy:
My Take on the Financial Crisis