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October 08, 2009

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morrison

Syd,
I think it will be almost impossible for someone today who has experienced foreclosure, long term job loss and fending off near-poverty to ever return to massive consumer consumption if and when the economy ever returns to it's high. You can't easily shrug off the difficult and often painful economic lessons. Eventually, people will return to buying and consuming, but it will be with caution. And who can blame them? My parents never forgot the lessons they learned during The Great Depression despite their million dollar bottom line.

But I understand what you are saying. To those who have successfully managed this current economic storm, they're getting kinda itchy to get back out there and indulge in some of those old-fashioned luxuries. At least, that's how I feel. I would like a part of my 'old life' back and to resume as it did before. With caution and an eye on that infamous 'bottom line'.

Art

Ditto!

r4i kort

A good retirement plan is a good way to recession-proof your finances. A job loss will force you to search for more streams of income.

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