One of the highest clicked links this week had to do with the U.S. economy.
A quote stuck out to me in this article:
Consumers are stuck with a legacy of excessive debt, inadequate saving, and facing high unemployment, higher underemployment, weak incomes and holding on to assets that are under water.”
Believe me, I’m no economic expert, but this makes a lot of sense. When a huge part of the way you evaluate your economy is by how much people are spending money they don’t have, it seems to me there’s something backward there.
At some point, the bubble has to burst. We all know it’s true on a personal level. We know that if we spend more than we have month after month and year after year, at some point it becomes unsustainable. We know that, don’t we?
So, why are we lamenting the effects of this on a national level? Why doesn’t it make sense to save money, live within your means, and perhaps have a bit less? I know there are complexities far beyond this, but is there anyone else out there suggesting that just perhaps a re-alignment of values might help our perspectives change?
If a strong economy is families carrying debt loads which push them toward the breaking point just in the name of having nicer things, then I don’t want any part of that strong economy, and I’m fine with less jobs being available to support it.
Enjoy your weekend everyone!