Author Topic: Market growth & Consumerism/Spending  (Read 1681 times)

Asgard01

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Market growth & Consumerism/Spending
« on: September 21, 2014, 03:17:41 AM »
I think this has been mentioned before somewhere when I have been browsing the internet on topics such as these but I thought I would post on here to get some possible answers/thoughts quickly as I can't find the rebuttals or counter opinions for now and I am sure I will get some on here :).

I have just been reading the forum post of loosing the joy of consumerism where many talk about how much they dislike spending in general, on restaurants and even on certain experiences etc. I must be honest that thinking like this brings up some cognitive dissonance within me. I share these values to a large degree of course. I have cut down my spending hugely, I buy products and experience that I think bring me value and am very thrifty. I am hugely influenced by buddhist thought and try to live a simple buy joyful life.

The contradiction that I feel is that most of us invest in stocks and bonds which provides us growth/interest that funds our FIRE. I know some may only use rental income but I think many of us use stocks/bonds which to me seems to require growth from people using services and buying products which make the companies grow. It seems that people spending money on these things, being materialistic etc allows us to reach FIRE and maintain that 4% withdrawal.

Now, as long as the majority of people do not grow moustaches this seems to be very favourable to me but I feel dissonance and selfish because I speak about how we shouldn't need to buy product x or service x but then I am the one planning my FIRE which SEEMS to need other people to do this. This makes me feel uneasy because I would much prefer humanity as a whole to become more green, own less which will help the environment etc but does this not then hinder my ability to live on the growth.

I feel the same when it comes to bonds, debt repayment etc. I am benefiting from that whereby in topics on here, we all will easily talk about how we shouldn't be in debt at a personal level etc.

So the question to debate may well be - does growth require materialism/consumerism/people spending inherently?  And how do you square that with your own personal push not to consume as much.

Chris

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Re: Market growth & Consumerism/Spending
« Reply #1 on: September 21, 2014, 02:26:59 PM »

 

Wow, a phone plan for fifteen bucks!