One thing that I always quite enjoy doing is reading CNN stories that allow for comments to be publicly displayed underneath the story. I enjoy seeing what different perspectives people have been having on current issues. One story that the news media seems ever hungry for is anything in which they can broadcast the terrible "Recession" we could be going into.
The part that kills me laughing every time is when they bring on experts who bring themselves around to the question of if we are in a recession. Personally, I find it amusing to watch grown men debate if our countries are in recessions or not at that exact moment in time. The way they report the recession seems like its going to be reminiscent of the great depression and then to watch them argue if we're already in a recession seems to diminish all the current hype. I mean, if we're already in a recession, do we really have it that bad currently?
Anyways, I'm moving away from what I actually wanted to discuss. The CNN comments allow you to glimpse into what people are actually feeling and not what the media tells us they're feeling. Case in point the following:
http://www.cnn.com/2008/US/01/24/economy.irpt/index.html?iref=newssearch
Now, If you scroll down to the blue area, where it says "Sound Off" is where more people get their input. The brief summary for those who haven't the time is that some people whine about the horrible economic situation the Bush administration has put them in, others complain about how the cost of living is too high (I hear this one from my manager at work talking to customers at least 2 or 3 times a Saturday for the past year), still others blame the rest for spending beyond their means.
Honestly, it looks to me like it is everyone's fault but their own. That isn't to say it is entirely their own faults as other factors do contribute but everyone who is needlessly in debt made a conscious decision to be there. No, i'm not referring to the single parents who have to use their credit cards to buy groceries just so their kids can eat. I am referring to people who think they can live beyond their means and then get angry when reality hits and they find out they can't.
This whole thing could be avoided with steps from everyone.
The Government
We all know that the Bush administration was a huge fiasco. Still is. Thats too depressing to go into today. I may have this viewpoint because I live in Canada but I don't see anything wrong with raising everyone's taxes a little so that everyone together can help pay for things that really need it. Some people need to look past "socialism" and see that there are actually people who have lost their jobs, single mothers they aren't communist evil, they're people who are down on their luck and need assistance to get back on their feet so they can get on with their lives.
With better social programs (welfare, minimum wage, healthcare), you lift those people out of poverty and in a position where they start making money and then guess what? They spend money!
The Citizens
Regular everyday people need to stop relying on credit cards to aide them in luxuries they know they can't afford. Open a savings account and put any extra you have into it. That way, you're gaining interest instead of owing it!
The concept of "make believe money" has always somewhat frightened me.
In terms of other things that could be done to give the economy a boost (aside from giving people money that will be reclaimed by the IRS anyways) here are two simple things:
1) The Media
The media needs to stop scaring people with the notion of a recession into rapidly selling their stocks so they don't lose their money in it. See the circle here?
2) The Writer's Strike
Alright. We get it. You want residuals for Internet revenue. The DGA got a good deal and now you can too. Both sides need to compromise. In times where the economy is not the best it could be, losing billions of dollars in the economy because of a writer's strike that could be solved with intense negotiations where no one gets childish and walks away from the table and everyone compromises, everyone just sitting staring at each other isn't going to do anything. I support the writers, I really do but it's hard not to think of all the people who don't have jobs anymore because nothing is being produced (hair and make up artists, production staff etc)
I promise you I don't plan on non stop posting everyday. I just didn't think it was best for my only post and my only source of content to attract people should be a boring, freedom of speech column which is for the most part, plain and simple.
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2 comments:
I think the only solution would be government regulation of when people can be offered limit increases. For example, don't allow them to offer limit increases people with mediocre credit. Some people just can't get over the idea that it's pretend money. Some people just can't avoid "no payments, no interest until 2012!"
I have a friend who used to work at an Applebees. This girl was so terrified of credit that she wouldn't even carry a check card, no matter how many times I told her that it didn't work like a real credit card. I figured out why she was so terrified. She once told me that all of her co-workers on the server staff at Applebees were swimming in 10-30,000 worth of credit card debt.
Of course, the government needs to lead by example. It has a trillion or so dollars of credit debt on its own. All our stealth bombers pretty much belong to the French and the Chinese, right?
Wow, thats pretty scary. I don't think I'll be able to own a credit card because pretend money freaks me out.
Also though, if the government were to impose restrictions on limit increases wouldn't that be seen as hindering profit? I agree it needs to be done, but is it possible?
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