[Question_Assumptions]

In principle, I agree with you. People should figure out how to take care of themselves and should have back-up plans for when things go badly. And in the past, I've said much the same as what you are saying -- that people should move, take more jobs, cut out luxuries, etc. All of those points are valid -- to a point.

Where I largely disagree is that this guy doesn't sound like a loser to me. He's found a job and he's taking measures to cut costs, and he should be applauded for that, whining or no whining. I also have sympathies for people over 40 and particularly those over 50 who have a difficult time retooling their lives, even if they realize that they've made a terrible mistake.

While I do think there is a good chance that a lot of the India outsourcing will be a fad (or that increases in prices as Indian IT firms have to compete for talent and a rising cost of living that accompanies increased salaries), there is a problem that we could hit a point where there simply are not enough jobs out there for everyone who wants one. And since our economy is currently built on luxury goods, services, and consumption, an overall drop in salaries which results in belt-tightening will send shockwaves through the entire economy which could cause one heck of a downward spiral. At that point, we will hit deflation or worse, given the debt load that many Americans are carrying.

If you look at history, including the most ancient of history, a population in debt that feels trapped and disenfranchised is a recipe for disaster. In ancient Sumeria, there were cycles where the rich would lend to the poor who eventually would lose their land upon an economic downturn (i.e., a bad harvest) until they were all indentured servants. At that point, they would rise up and threat to kill the rich people until land was confiscated and given back to them, only to start the cycle all over again. It isn't in anyone's best interest to have a large population of angry people who feel trapped and have no way to sustain themselves. Trust me. They will start coming after your money no matter how well you planned and how hard you worked.

[riri]

If you look at history, including the most ancient of history, a population in debt that feels trapped and disenfranchised is a recipe for disaster. In ancient Sumeria, there were cycles where the rich would lend to the poor who eventually would lose their land upon an economic downturn (i.e., a bad harvest) until they were all indentured servants

You don't have to look throughout history. Look at Indonesia , Chile,Argentina or Nigeria today.

[Huck]

You make good points. I was taught by my grandma how to think on this subject, and I am pretty inflexible. My cars are paid for, my credit card balance is 0, I "pay myself first" every paycheck, and try to live simply. I can sympathize with a guy who made a mistake and is feeling bad now, but this isn't rocket science, and the simple virtues of frugality and temperance aren't that tough to comprehend. Hey, I could bitch that my savings is earning a pittance now because interest rates are so low--low to bail out all the gambling morons who threw good money down the dot com rat hole. But I don't. I just plow ahead. But I understand your points and I respect your civility and patience. Freegards,