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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (104725)	8/30/2009 5:48:28 AM
From: Gib Bogle	Read Replies (1) \| Respond to of 110194

My father lived through the depression, and that plus a strong Scottish influence engendered in him a very "waste not want not" mentality that he passed on to his children. I've always been as debt-free as possible, and now am completely debt-free. My income isn't great (although it's pretty secure), but our outgoings are minimal. We don't eat out much, and we are not interested in owning late-model vehicles (the motorbike I commute on is 23 years old, and runs well). My mentality is not uncommon in NZ, which may partly explain why we haven't really been hit hard yet. I did hear tonight that foreclosures are rising, but the situation is still nowhere near as bad as it is in the US.