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moorookamick

23,111 Posts.

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08/06/22

07:57

Post #: 61882111
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Originally posted by DrStrangelove: ↑

Budget by reduced spending e.g. 1) on unecessary food volume :-will we see the population return to a healthy body shape or will spendthrift obesity continue as more important than frugal; 2) guzzling alcohol; 3) buying flash cars; 4) taking on debt for consumer goods, 5) etc

There were many observations I made growing up where I did. The generational poor had similar addictions that kept them poor and unable to absorb price shock:

Renters
Alcohol
Smoking
Bar flies
Big dogs
Welfare recipients
Pay day loans
Hire purchase
Domestic violence
Uneducated
Self rewards of junk food
Gamblers on horses
Thuggish

Expand

Our economy is based on credit. that is we consume before we earn the lollies.
That is how capitalism has grown and that is how the banks operate by generating
money out of thin air.

Credit/debt is endemic and the economic cancer of our time, IMO:

https://australiandebtclock.com.au
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