Generation Y-worry still unfazed by credit woes

"They are not married, they don't have a mortgage, they don't have children, they're not too worried about their careers & So if they lose their job, that's fine. They'll just hunker down at home, watch the plasma telly and won't worry about the future."

If they are still spending and running up credit ,then eventually they will have to change. They are an ever optimistic age group who not only have had a lot, they have had to change a lot. Some of them have been driven to be high achievers with every waking moment supervised, every thought scrutinised and every idea challenged. Others have been in freefall like the market with no boundaries and no solid foundation. They have done as they have pleased and they have no idea what authority and limits mean. So it is an interesting mix of people and the article looks at quite a number of the issues with Gen Y. Some of them will survive extremely well because they are not fussed by outside influences and they can manipulate all sorts of circumstances and people quite well. Others will hit the wall. They are good at networking and very good at creating productive groups so it will be interesting to see how they manage. Those who have the wisdom of their families behind them will be all right. Those who survive boundary free living will be very inventive. They will change and maybe even bring some innovation to our consumer approach to life.

Generation Y-worry still unfazed by credit woes | theage.com.au

Government Action on Money Matters

Any government at the moment is in an invidious position. It is just not that easy to work out what to do because things are changing rapidly. They are not as they were and so the courses of action are hard to plot without considerable consultation and consideration and , of course,  no one has time at the moment. They just want it fixed. This whole money mess was a long time in the making and so it is not something which is going to be fixed that easily. Rich people in Russia are just plain losing their fortunes and the domino effect of those sub prime mortgages is  starting to be felt around the world. People are worried, they are frantic and they are losing patience at a time where a calm outlook is of the essence. We can contribute to the situation by being ill advised and reacting wildly. Tough money situations call for tough physical constitutions because they can run you right to the edge. It is better to be steady. The Government is not going to be able to solve everything. No government is because a lot of it is to do with how businesses , trade and financial institutions have been structured since Thatcher, really. A long time.Jobs are starting to go, things are starting to pull back and any government has to concern itself with the best options and they are not going to be able to fix it all nor fix anything too quickly and they know they will be blamed. It is important for us to know how we can help and what our best course of action is to help contribute to a safer journey through this crisis. We are still getting plenty of information about what is occurring but nowhere near enough information about how to help and that needs to be coming at us on almost a daily basis at the moment. The one thing I am grateful for is our journalists are getting right onto the immediate issues and getting them  out there and clarified for us so that we can at least think straight and that, I think, is helping us a lot.