Flip The Script…
One has to wonder these days as we Americans prepare for the looming Christmas holiday season, what level of guilt will be heaped upon us by retailers. In looking back at the past ten years, we have gone from being scolded for being a people who had lost our ability to save money, with our ever-expanding credit lines proof of our need to have it now, to being urged to spend money that many people do not have. The good times had rolled…up and over many of us.
Then the rules, and the game changed.
So much so that today, the home I am seeking to keep out of BK…is worth less than when it was appraised in 2000. My credit score is as upside-down as my mortgage…and cash is once again all that matters. Unless, of course, you had the foresight to buy gold at $400 per ounce. Let me check my jewelry drawer for some hidden treasures that I can send in to Cash-For-Gold.
So, with my tongue firmly in cheek, I have come to the conclusion that we are deep in dog poo…because we have been scolded about our need to save money. Yet, GW Bush, after 9/11, told us to go shopping and show the terrorists that our way of living would not be undermined by a few planes slamming into buildings.
Just last week I heard that the path to economic recovery will be traveled when consumers begin spending money again. And unless that happens the chances are good that we will slip into another recession. When did the first recession end? I ask friends, family members and fellow business owners that question, and most agree that the debt storm, and personal budget crisis, has not yet cleared in their lives.
I have a different thought as to how this never-ending financial crisis can be put to bed. Congress can mandate that the banks, some of whom were given taxpayer money in the form of a bailout…give every household a grant of ten thousand dollars. Imagine what you might use that money for; a remodel project in your house (Home Depot and a contractor will benefit), new furniture (Sears and Macy’s would be happy), and maybe even purchase new equipment in your business.
One truth that we rarely hear from the economic experts, is that corporate America needs to reinvest in her people…they are cash rich and people poor. There must be a few people who can answer a customer service question about your laptop, in plain English, and who would pay taxes on that income. Is there an India-based company that hires Americans?
Let’s make enough noise this week for Wall Street, Main Street and Bourbon Street to recognize that we are awakening from our slumber and will not be tricked into believing that red is blue and that we are to blame for the woes of the world.
We are Americans.