I certainly don’t have the credentials to be blogging about economics (I was a stockbroker for 10 years, so I have a decent grasp of how the financial system supposedly works), but listening to politicians talk about how to stimulate our economy, leaves me pondering… I feel like they are missing the primary issue.
“America is a consumer driven economy”. True, but what if Americans are changing? (isn’t insanity doing the same thing over and expecting different results?) And our politicians, promoting the status quo system, fail to recognize this? Maybe I am in “la la land”, but it seems to me this economic crisis could actually have a very positive purpose, if we don’t allow the “powers that be” to distract us from the valuable lessons we can learn here.
We talk so much about “security” in our country, yet we promote the thing that leads to massive insecurity – consumption as the answer to everything. Maybe Americans are beginning to consider the possibility that consumption of “stuff” is not the path to a fulfilling life? Maybe they want to pay down their debt, forgo that kitchen remodel, drive their old car for a few more years, and seek enriching experiences – like enjoying nature, community service, voluntourism, and travel – as the new normal? And maybe the reason corporate America is not hiring, is that they see this new reality? I have faith that America can figure out how to prosper in a more sensible culture. That we can toss off the shackles of our addiction to credit. This paradigm shift may cause a slower economic recovery, and patience, but in the LONG TERM, we would be building a better, stronger, more “secure” world.