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Tuesday, September 26, 2006

The Jewish Economic Collapse

In discussions with friends, family, and others, I have long argued that the economy of the "frum" world is set to collapse within 20 years - possibly 10-15.

Now, I think the 10-15 is more correct. Read (and weep while doing so) Jewish Debt over at AskShifra. The comments are incredibly saddening.
NOTE: To be fair, Jameel - at Orthomom's post on this
- argued that perhaps we're only getting a sampling of a certain demographic...
but considering where readers of this blog come from, I think the sampling of
blog readers is about the same as the Jewish community as a whole, though the
high and low ends are somewhat nonexistent. Most people in the frum community,
and most J-blog readers, likely fall into the lower-middle middle class range,
even though people like to think that we're all upper-middle class.

If you are willing, post what you feel comfortable posting at Shifra's - as anonymously as you want to. I will be posting at some point later, once I've figured out what I can and can't post, seeing as how I'm *not* anonymous. The numbers people have posted are absolutely mind-boggling... until I realize that even as 23-year olds, are numbers are scarily comparable.

I also think that a post which I wrote a couple of months ago (one of the few good posts I've written in a while) bears great relevance to this. Much of Making Assumptions is not only true regarding ourselves, but I'm guessing it's true for almost every commenter at Shifra's. Some have even said as much: 'I just smile and say everything is fine.'

Everything is far from fine.

I think this is a proper time to plug one of my favorite blogs: Orthonomics. It should be a must-read of everyone's by now. And now, back to training.

10 comments:

  1. Very sad. I wonder how much of the problem could be alleviated with later marriage and fewer children though. I'm sympathetic towards people having trouble sending all five kids to exclusive private schools because I understand where they're coming from, but at the same time I have to ask, why didn't they plan better?

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  2. I'm not going to disagree completely, as I am generally against people rushing to get married young. (My own marriage at 20 notwithstanding.) However, while those are obviously true points, a much larger problem is how people spend their money and not how early they get married and have kids. Schools, even private schools, shouldn't cost as much as they do - there is a huge inefficiency in spending in most Orthodox schools. I think a much larger problem resides in the pressures people feel to spend money on weddings, bar mitzvahs, and the like. If a family spends an extra $25,000 on a wedding, that's a bigger problem than getting married a bit earlier.

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  3. Ezzie,
    I am not even sure it's inefficiencies in the school system that really drives tuition up (although cutting the fat always help)...I think it is a self perpetuating cycle of too many families getting financial support so that the school loses its only real revenue stream. Fundraising is only secondary to maintaining the necc. cash flow to keep the lights on and that source is being pulled from under the feet of the school.

    I am beginning to believe that much like European culture, only the best and brightest should go to school and everyone else should be taught a trade etc. "No child left behind" in fact, leaves Every child behind.

    Maybe I will turn this into a post :)

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  4. Personally, I have strong opinions on this topic- but I'm not quite sure if I want to voice them in these awesome days!

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  5. Kasamba - if you feel that way, then those opinions probably shouldn't ever be stated.
    And I wish all of us would rise to your level of yirah.
    I know how hard it is to keep things we really feel srongly about to ourselves.

    Kol Hakavod.

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  6. I completely agree with you. It is such a problem. How will the next generation survive?

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  7. Wow. Scary and depressing, and yet comforting in a strange way - that we are not the only ones who have made responsible decisions and still struggle. OY.

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  8. Duno where to post this cuz I'm definitely not about to do it on onlysimchas but I saw the pix you put up and they are GORGEOUS!!! You have got yourself one adorable daughter ka"h!!! One day when this isn't anonymous and stuff we must start talking shidduchim.

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