Comments on: Children Growing Up in a Different World

By: Greg Atkinson

Greg Atkinson — Wed, 28 Oct 2009 04:13:43 +0000

Dan I would add health to the list of truly valuable assets. No use working like a dog and then falling off the perch too early Stress is a killer but I think I safely soak that away at the local public hot baths.

By: Dan

Dan — Wed, 28 Oct 2009 04:04:41 +0000

I think Bill has identified his real asset - his family. If you build your family well, with some sort of proper culture, attitudes and life education (as opposed to schooling), then what little you have materially is less important, because in the end it's people and their actions that make life what it is, not so much inanimate objects. If you have no family (or your family is broken), then it's all the more sad when you have wealth, because it will surely evaporate. It's all ancient advice but some how today it sounds more radical than it ever. From what I have seen, most people's inability to rise from the financial bottom (or even get their head above water) has more to do with their personal and family disarray than their economics/tax/business/financial prowess. The western world's weakness is that, lacking extended families, individuals rely on safety nets - it's sometimes the most expensive way to do things. Maybe we don't realize the real way we are being robbed blind - not through taxes, but through the destruction of centuries old family culture.

By: Goldwing

Goldwing — Tue, 27 Oct 2009 09:32:29 +0000

Mr Bonner's position appears to be pessimistic Sir. America faces difficulties. Her people are accustomed to advantages. However, to adapt from a position of infinite superiority to superiority, should not be an immense hardship.

By: Greg Atkinson

Greg Atkinson — Tue, 27 Oct 2009 08:57:00 +0000

I would say I am more inclined to go with John Mauldin's view/outlook than Bill Bonner's. Thanks for the link Goldwing.

By: Ben

Ben — Tue, 27 Oct 2009 08:32:26 +0000

Surely it is not all that bad, Bill!
America is still a beautiful land with great potential for self-sufficiency. Self-sufficiency in food and an educated workforce are great treaures "in the bank" already.
If anything, these times might lead to some improvements in quality of life. As an Australian Generation X-er, I have noticed some small shifts in thinking among (some of) my peers. There has been some greater appreciation of the jobs that we DO have. Many are learning the art of self-sufficiency (knitting, sewing, gardening, recycling). There seems to be less interest in enormous houses with 6 bedrooms (that nobody uses) and more notice of more moderate accommodation that we CAN afford. All these are simple things that our grandparents took for granted. And they bring a peace of mind that a bank "book entry" cannot hope to achieve- let's hope these small changes last!
The real risk I see is the geopolitical one. Pax-Americana has seen some relative stability over these last 60 years that has led to better lives for many. Loss of American influence will see a shift that will lead to many other powers trying to fill the void. This will be the real test for my generation....

By: Goldwing

Goldwing — Tue, 27 Oct 2009 00:36:29 +0000

It appears that two old friends have different perspectives:

http://seekingalpha.com/article/168683-we-re-living-through-the-best-of-times?source=email