Some of the latest headlines on the economic downturn have been both funny and infuriating. Funny because some financial gurus are arguing that not spending money will lengthen the economic downturn. Infuriating because the headlines imply that the consumer has some control over the length of this economic downturn.
Wait a minute! Let’s have a little common sense here. What do these very well paid (and employed) financial pundits think families can use for money besides money? What happens when the family breadwinners lose their jobs? Where is this money we are supposed to be spending going to come from?
Besides lacking common sense, these financial pundits don’t seem to be facing reality. The news from the New York financial markets is grim. The downturn is worldwide. Do they somehow believe we are going to be able to go back to Spend Heaven anytime soon? Do they really believe the American worker is going to continue to support their inflated salaries and bonuses. Dream on, gurus!
Clearly, American families are facing reality. Yes, the time to cut back on spending and start saving is here and has been for awhile. Yes, the time to start cooperative buying groups has arrived. More instructions on how to do that can be found here. Yes, the time to share our surplus with others has arrived. The world has changed and we must change with it. Ignoring the financial gurus might be the smartest thing anyone can do right now.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment