Posted on 11/17/2010 1:25:21 PM PST by pinochet
I am old enough to remember a time when Americans hated being in debt, and looked down on people who were heavily in debt. People in those days used to say that, if you could not afford it, you did not need it. There was a core value among Americans, that people should live according to their means.
Both Republicans and Democrats lived according to those values. New Deal Democrats believed in tax and spend, and supported top tax rates of 90 percent on the rich. Republicans opposed taxes and spending. But both parties were totally opposed to the idea of heavy government borrowing, which would have left their children in debt.
The only respectable debt was mortgage debt, because homes were assets that appreciated in value. Some people looked down on the idea of taking out a loan to buy a new car, and preferred to drive used cars, until they could afford to buy a new one outright.
American was built by penny-pinching people who believed in saving money, rather than spending themselves into bankruptcy. In 1980, America's federal debt burden was less than 1 trillion dollars. This was after World War Two, Korea, and Vietnam, which were bloodier and costlier wars than the Iraq and Afghan Wars.
In the old days, Americans were determined to ensure that their children inherited a richer and better nation, than the nation that they inherited from their parents. I pity the American children of today. What are they going to inherit?
Crime rates were lower. Illegal immigration was not allowed. Teenagers were self-reliant, hardworking, and responsible people - and not the lazy bums who spend all day playing video games and hanging out at the mall. It was quite rare to come across an obese person, because Americans were a physically healthy and energetic people. You could not super-size your food portions in fast food restaurants.
Today, Americans are more impulsive, and seem to lack self-discipline and self-control. Are the Americans of today capable of self-government?
Walter Mondale lost the Presidential election in 1984, because he called for the raising of taxes, in order to avoid deficits and massive debt. Americans prefer dishonest Democrats like Obama, instead of honest ones like Mondale.
Funny how cutting government spending never is talked about...
Actually, that was the Eisenhower Republicans who paased 90% tax rates on the rich, in the Internal Revenue Code of 1954.
Yep, and I'm old enough to remember when only sailors and guys in biker gangs covered themselves in tattoos.
America has changed, to say the least.
“Illegitimacy rates were less than 5 percent among whites, and less than 20 percent among blacks in 1958. Today, the white out-of-wedlock birth rates are 28 percent, which is higher than the black rate in 1958. “
So much for the “Bell Curve.” It is obvious that culture was responsible, not genetics.
***Some people looked down on the idea of taking out a loan to buy a new car, and preferred to drive used cars, until they could afford to buy a new one outright.***
When I was young back in the 1950s and early ‘60s you could a loan from a bank and get a NEW car for about 25% down and 24 months to pay.
For a used car it was 25-30% down and 18 months to pay.
Now, some dealers will give you a new car with NO money down and 72 months to pay.
You bet, it started happening about the same time Big Biz and fatcorp started sending the first of the 100,000 businesses to low wage labor countries like Communist China and Mexico, while at the same time, the bloated, corrupt U.S. Federal Government rolled out the red carpet for upwards of 30 million illegal aliens....
Then the last president made American citizenship all but pointless....And now were on the verge of total economic collapse as big government has doubled in size and has become 10 times more controlling and intrusive towards it's own citizens.
Thus, we become lazy and apathetic. It is a death spiral.
That was in the days when a young couple didn’t expect to buy a $400,000 house as their “starter home.” When watching this phenomenon on HGTV one wonders how many of these homes have been foreclosed when one or both of these young people became unemployed or underemployed.
Truth to be known, the cars were not very reliable and the longest warranty was 24 months. My Father made sure never to have a vehicle older than 23 months.
So much for the “Bell Curve.” It is obvious that culture was responsible, not genetics
________________________________
If you had read the Bell Curve you would know how stupid your statement is. The Bell Curve indited the culture of the leftists and detailed better cultural alternatives. With the above issue, The Bell Curve would support the fining that the culture of 1958 was better at helping lower IQ people manage themselves.
>>>Funny how cutting government spending never is talked about
I oppose government spending, just like you. But I believe that a tax-and-spend society is better than a borrow-and-spend society.
America used to be the nation that lent other countries money. Today, America is borrowing from the Chinese. Then the Obama administration is printing money to pay back the Chinese, which is eroding the savings of Americans through inflation.
I watch those shows too and each and every time I’m shocked that the buyers qualify for such high loans and have way less than 20% down. I’d love to see a spin off show following up on all of the poor choices these people made and how they are now back living with other relatives:)
I think also many Americans are into instant gratification and believe they are entitled to whatever they want when they want it. And they believe they are especially entitled to it if someone else has it...they don’t want to do the hard work and sacrifices the other person went through to accomplish those goals
Even so called affordable cars are tin-can four wheel scooters that are worn out at 75K miles (just about the time that the loan is paid off).
Everything seems to be that way these days. Maybe the US dollar has devalued so much over the years, that we really can't afford these things. Maybe we are fooling ourselves.
Precious metal coins = US CONSTITUTIONAL
Fiat “money” = DISASTER (sooner or later just in ALL of human history is all).
MOST Americans lived in a world where a dollar was one ounce of .90 silver.
Leaving the Constitutional “gold standard” was the beginning of systematic
fiscal disaster for our nation.
jes my .02
“If you had read the Bell Curve you would know how stupid your statement is. The Bell Curve indited the culture of the leftists and detailed better cultural alternatives. With the above issue, The Bell Curve would support the fining that the culture of 1958 was better at helping lower IQ people manage themselves.”
That’s not the point. The point is that our culture dumbed down whites, who supposedly have better genes, to the point where they act like blacks in 1958. If that’s the case then why assume that blacks have lower IQ because of genes? I’d argue that it is more likely that they are suffering from a culture that devalues intelligence even more than whites.
The Bell Curve calls for ‘simplifying rules’ so that low IQ can be more successful without thinking too much. I’m all for these rules but our pop culture goes beyond the rejection of traditional values. According to our pop culture, smart people are ‘nerds’ and you will be better off if you play basketball instead of reading a book.
“I oppose government spending, just like you. But I believe that a tax-and-spend society is better than a borrow-and-spend society.”
I believe in borrowing to spend on projects with a positive ROI. The problem is that government borrows money on things with a negative ROI.
A little mechanical ability really pays off these days. My 17 year old F-150 with 167K is on it's 4th exhaust, 3rd clutch, 2nd water pump, gas tanks, brake lines, spring hangers and numerous other things. All done by myself.
Way back when, kids would tear down old lawn mowers, fans, pumps, etc. just to see what made them tick. I don't see it much anymore. Too easy to lay around playing video games and eating Cheetos, I guess.
And the way of the future for me, too — no more new cars. We'll just keep repairing the old ones until they falls apart.
Important to have a good foundation car like your F-150, though. We have a Toyota 4Runner with the 22R engine. Has 180K miles.
Yeah, too bad about the kids. Although, they have a lot more to learn these days — computers and modern technology, etc.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.