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Old Yesterday, 06:30 AM
 
26,363 posts, read 33,362,178 times
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Quote:
Originally Posted by Maddie104 View Post
DO you understand that many people got layed off during the great recession and many people in that age group were not able to recover financially?


Please do not make gross assumptions and judgments.
Oh dear. It's LAID off....not "layed" off.
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Old Yesterday, 10:09 AM
 
Location: East Coast of the United States
17,551 posts, read 19,796,776 times
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Quote:
Originally Posted by Maddie104 View Post
My point being everyone's situation is different, times are different, lifestyles are different so personal anecdotes, particularly from people comparing what they did years ago to today is apples and oranges. Most people recall the hardships but fail to mention the advantages.
I think the decisions people make have a profound influence on their economic circumstances throughout their lives.

It is not as out of control as some people like to think.
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Old Yesterday, 03:29 PM
 
Location: East Coast of the United States
17,551 posts, read 19,796,776 times
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Quote:
Originally Posted by Maddie104 View Post
Lucky for you you lived in a metro area where jobs are plentiful. What if someone lives in a small town without such job opportunities?
I'm not familiar with the dynamics of living in a small town. I imagine that the COL is low enough that you could do many different kinds of jobs such as in manufacturing, retail, farming or teaching and still have a comfortable life.

But most people who are seeking greater job opportunities have moved to bigger towns or major metro areas.
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Old Yesterday, 05:48 PM
 
26,379 posts, read 28,802,735 times
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Quote:
Originally Posted by ChessieMom View Post
Oh dear. It's LAID off....not "layed" off.
Thank you for saying this!
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Old Yesterday, 05:51 PM
 
26,379 posts, read 28,802,735 times
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Quote:
Originally Posted by Maddie104 View Post
My point being everyone's situation is different, times are different, lifestyles are different so personal anecdotes, particularly from people comparing what they did years ago to today is apples and oranges. Most people recall the hardships but fail to mention the advantages.
I agree with that, but this cherry picking of anecdotes that support one's pre-existing point of view works both ways. Pretty much everyone does that.
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Old Yesterday, 05:58 PM
 
26,379 posts, read 28,802,735 times
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Quote:
Originally Posted by BigCityDreamer View Post
I think the decisions people make have a profound influence on their economic circumstances throughout their lives.

It is not as out of control as some people like to think.
It's the eternal, never ending debate.

I acknowledge no one makes perfect decisions, but our society used to push people more away from the bad decision making than it does now in lots of ways (more limited access to credit, stigmatizing out of wedlock births and divorce, etc.). And that push kept more people in the middle class and prevented them from falling into poverty or indentured servitude (in regard to college debt).
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Old Today, 08:53 AM
 
Location: Outside US
1,359 posts, read 548,841 times
Reputation: 1801
Here is an article related to the discussion.

It's regarding consumer debt, incomes, and thoughts about these and other factors in a potential cyclical downturn.

https://seekingalpha.com/article/428...el-next-crisis
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