Comments on: Recession will end when we get bored of it http://yumio.net/blog/2009/02/24/recession-will-end-when-we-get-bored-of-it/ Blog of an economist who ended up working in web Mon, 24 May 2010 15:10:15 -0700 hourly 1 http://wordpress.org/?v=3.0.4 By: Administrator http://yumio.net/blog/2009/02/24/recession-will-end-when-we-get-bored-of-it/comment-page-1/#comment-21362 Administrator Wed, 25 Feb 2009 17:53:54 +0000 http://yumio.net/blog/2009/02/24/recession-will-end-when-we-get-bored-of-it/#comment-21362 Mike That is what I'm afraid of. A whole generation of savers! Especially the impressionable young! They are going to recycle AND save. Its all nice & good, but then the economy will have to be much, much more efficient to keep everyone employed (or the employed to keep the unemployed from poverty via government transfers). Yumio Mike
That is what I’m afraid of. A whole generation of savers! Especially the impressionable young! They are going to recycle AND save. Its all nice & good, but then the economy will have to be much, much more efficient to keep everyone employed (or the employed to keep the unemployed from poverty via government transfers).
Yumio

]]> By: Mike http://yumio.net/blog/2009/02/24/recession-will-end-when-we-get-bored-of-it/comment-page-1/#comment-21361 Mike Tue, 24 Feb 2009 19:12:50 +0000 http://yumio.net/blog/2009/02/24/recession-will-end-when-we-get-bored-of-it/#comment-21361 Yumio -- I think there's a lot of truth to this idea. And the comparison to Japan is interesting. Americans love to live for the day, spend beyond our means and worry about it later. So I think while this wake up call will change behavior and mindsets briefly, like you say, people will slide back to their old habits. The only devil's advocate I would point to is that if we don't get bored quickly enough, the downturn could extend into a depression. There are old americans that are very frugal to this day because of their experience in the great depression... Yumio –

I think there’s a lot of truth to this idea. And the comparison to Japan is interesting. Americans love to live for the day, spend beyond our means and worry about it later. So I think while this wake up call will change behavior and mindsets briefly, like you say, people will slide back to their old habits.

The only devil’s advocate I would point to is that if we don’t get bored quickly enough, the downturn could extend into a depression. There are old americans that are very frugal to this day because of their experience in the great depression…

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