ThingsPondered

I really don’t care whether and when the U.S. government announces that the country is in a recession or a depression (although I doubt we will have a declaration of depression – what a downer.  Can you imagine what the emotion-driven stock market’s reaction would be?)  Folk signs of our recession have been clear for over a year.  All the while that Dubya’s toadies were denying it, we common folk in service and retail businesses knew it was here.

I remember reading a Wall Street Journal article about broom sales.  It proposed that declines in broom sales indicated tough economic times.  As the households of the rank and file feel the pinch, one of the money-saving decisions is to “make do” with the old broom instead of splurging on a new one.  Other industries show this making do with what we have: carpet cleaning and plastic surgery.  Both of these have experienced less activity over the last two years.  Many of us knew in which direction the country  was heading.

Saving versus spending.  I am not an economist.  Therefore, it baffles me that we citizens are urged to spend money that we do not have.  A less drastic, yet equally mystifying, notion is that we are encouraged to spend what money we DO have.  Why isn’t saving for retirement, for long-term care, for a rainy day, a good thing?  It sounds good to me.  Actually, it sounds downright mature and responsible.  I guess I will never understand.  Nonetheless, a depression will be a very personal challenge.

My grandparents and parents survived the one in the 1930’s.  I know intellectually that I can, too. But the practical aspects are utterly scary. 

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