on the real source of the american economy...

[acroyear]

I, Cringely » Blog Archive » Just shoot me - Cringely on technology:

Last night I was surfing the web and came across a news story titled Ten Things Americans Waste the Most Money On from a web site called 24/7 Wall Street. I’ll save you the trouble of reading the story: we Americans waste our money (in monetary order from most to least) on restaurants, gifts, audio/video equipment, pets, hotels, entertainment admission fees, alcohol, sporting goods, tobacco, and apparel. Or in other words eating, having family and friends, enjoying music, having a dog or cat, experiencing the world, knocking back a dirty martini, exercising, and replacing our worn-out clothing is a frigging waste of money.

Just shoot me.

If we didn’t spend all that money what would happen? The way the folks at 24/7 Wall Street evidently see it, we’d be better-off because we wouldn’t be wasting so much money. Of course being such careful spenders would not only make us dull and uninteresting as Hell, it would also destroy our economy.

Great advice coming from a financial site.

Comments

[thelongshot.livejournal.com]

They probably want us to put our money in the stock market, which is probably one of the top places where I have wasted my money.

For most of those things above that I do, I have gotten something in return which I have enjoyed. I can't say as much for the stock market.

[katrinb.livejournal.com]

Speaking as your wife, I'd rather see you waste money on the stock market than on tobacco. At least the stock market won't cause cancer or emphysema, and doesn't smell bad. And you're too sensible to trust Rob's college fund to Bernie Madoff's latest deal. (right? :^) )

But the rest of it? What do people have money FOR, if they're not allowed to enjoy it? (In reasonable moderation. I mean, say, spending money on your pets' health, fun, and well-being, fine - but it IS a waste to buy your cat a crystal-and-gem goblet to eat out of, as they don't give a rat's ass. Probably would rather have a rat's ass, and the rest of the rat too, come to think of it.)

[stori-lundi.livejournal.com]

The original article wasn't nearly as judgmental as the commentary and had this pertinent point:

The ten categories of unnecessary purchase can be balanced against the ability of Americans to save money or pay off debts. The “average” American household which has an income of $63,000 spends more than $8,000 on goods and services it does not actually need. The credit crisis might not have been so bad if all that money had been put into savings accounts between 1989 and 2009, but the period would not have been nearly as fun.