Due to the piss-poor economic state of affairs as of late, many people are choosing to tighten their belts when it comes to monthly expenditures, even if they happen to fall in the “Well Off” category. As noted in this WaPo article:
Economists say many still-flush consumers are handcuffed by psychological traps that cause them to tighten their purse strings even though economic hardship is not their reality. Underscoring the crucial role that consumer psychology will play in turning around the economy, President Obama and Federal Reserve Chairman Ben S. Bernanke have both been on the hustings this week sounding notes of optimism.
The most troubling things about this quote are: a) the fact that fiscal responsibility is being labeled a “psychological trap”; and b) the fact that the Obama administration is trying to paint a happy face on this situation as a way of encouraging people to spend more.
Does no one find it horrifying that the fate of the American economy apparently rests on the shoulders of consumers and how much Chinese-made crap we’re willing to buy? Is our economic salvation really contingent upon people like me finally breaking down and buying a plasma television? Because if it is, we’re in bad shape. I’m a cheap mofo. You know the old saying: “Live simply that others might simply live.” I believe it’s more than just something to read off a bumper sticker. I think it should be part of our overall belief system.
Yes, I own way more DVDs than I really need. I have five bookshelves full of reading material. I love my Xbox 360. I’m not going to lie and act like I don’t indulge myself now and again. But the indulgences are few and not what you’d expect. My DVDs and video games? Many of them come from used CD/DVD stores or Amazon Marketplace (the greatest online service on earth, if you ask me). Marketplace is also from where most of my book purchases come. No shame in proving that “one man’s junk is another geek’s treasure.” I come nowhere near spending $100 a day (of course, I’m also not “upper-income,” so I guess I’m okay there). If I do spend a significant amount of money, it’s either because I couldn’t find a better deal, or it’s for someone else.
I’m just really displeased with the idea that we are being expected to spend more in order to fix our economy. If that’s the case, then this country needs to start giving us better merchandise. I’m sick and tired of shoddily made merchandise that breaks soon after I purchase it. You want me to spend more money? Give me better quality. Oh, and here’s an idea: Maybe you could give me that better quality actually built here in America. I get that this is supposed to be a global economy, but that doesn’t mean that we have to completely gut a whole subset of our own economy. How many thousands of former industry workers would love to be able to work again? Call me crazy, but bringing some of these jobs back to our own shores might do more to boost our economy than buying a pile of Chinese-made plastic crap from Wal-mart ever would.
