I'm sorry but I will not be able to Publish content on a regular basis as I have done in the past for the next few weeks. You can however take a look at previous articles or even better, write something original for me to publish.

Economics

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Wednesday, 6 March 2013

The Poor of America

After watching "Americas' Poor Kids", I started to think again about the current economic situation, but this time from a social perspective. Here is what I came up with...

The main thing that hit me was the question: why do people buy things which they cannot afford? I saw poor families wearing designer clothing, keeping dogs and having an Xbox. I simply couldn't, in fact I still cannot, understand why they purchased such stuff if they knew they couldn't afford it.


Dogs is the biggest problem that I find. Nearly everyone you see nowadays owns a dog. Keeping a dog is literally like having another child i.e. expensive. Why have one when you are tight and cannot afford to feed yourselves let alone the dog. Someone please comment and try to explain this to me.

Another problem which I saw was regarding savings. With very little disposable income, there was not really much that one can spend money on as it will be used up with the necessities. One of the poor families were in a decent position before the financial crisis and so they had no excuse not to save. It personally seems rather silly to me that people doing well believed that there is no reason to save, as they believe they are secure. In a way this maybe a good thing, that they are going through a hard stage in their life, as they are literally learning a lesson, the hard way.

Small summary on what I thought about whilst watching this programme.

Anyway, thanks for reading,
Rishabh Malu