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1/5/2009
Meyer: Conservatives must conserve
Welcome to a new year with big challenges; for until just recently, “tough economics times” were relegated to the dustbin of historical observation.
I vividly recall 1982, the last time I remember so much pessimism about our economic future. I had been laid-off from my job in a warehouse; I was fortunate to land a part time job with a well-known security firm as the overnight guard at a local foundry. In March of 1982 I reported to work and a full second shift was running. By later in the spring, that shift was curtailed to a skeleton crew. By early fall, only the furnace operator and myself were at the plant. Before winter came, I was working solo, sometimes not seeing another human being for 12 hours.
My early adulthood was prefaced with tough economic times to the extent that I believed them to be the norm. Fortunately things changed for the better economically. As long as America remains America, things will change for the better again regardless of which political party has the majority.
No Nest Eggs
How much of a recession is associated with habits – habits that aren’t necessarily good habits? In recent decades saving rates in America have plummeted, and many have spent more than they earn. So many of us live from paycheck to paycheck, often not for lack of sufficient earnings, but in order to keep up with the opulent lifestyle we have grown accustomed to. Little has been saved for the proverbial “rainy day,” so when difficulty strikes, some people's financial lives fold up like a house of cards.
What I suggest to people is that they make sacrificial cutbacks whether they absolutely need to or not. That strategy makes for an easier adjustment when the economy goes south for a season. Never attempt to live on everything you earn. That's exactly what conservatives ought to do in their personal lives—conserve!
When a serious economic contraction comes, it seems that those just barely making it do much better than their counterparts in the previous generation. Our expectations and the requirements for living the American dream continue to soar. That pace is tough to maintain. This time around, part of the answer just might be learning to be satisfied with less, while enhancing the enjoyment of life’s simple pleasures.
Robert E. Meyer, Fox Valley
COMMENTS
Good andvice. Another thing that conservatives, liberals and us classical ( as opposed to modern) liberals can do is educate ourselves to the workings of the federal reserve system, and its undeniable role in the boom bust cycle Start here, the best investment or your next 41 minutes:
http://mises.org/story/2870
It is the banking system and the Federal reserves' ability to create money out of nothing that creates the bubbles, that enhances the wealth of the bankers and the already wealthy, at least until the house of cards collapses, as now and in the 1930's. It is inflation ( expansion of the supply of money) that drives the prices of things, real estate and stocks especially, that make possible the ripoff CEO salaries, and otherwise disrupt our not-so " Free Market."
END THE FED

Ken Van Doren (Mon Jan 05 18:39:42 2009)
Mr. Van Doren, you sound like a modern Barney Frank, finger-pointing ‘everything is someone else’s fault” liberal. Sure, the Federal Reserve has some fancy hocus pocus – your link provides an interesting, left-winged stage-play. But we bought the tickets to the show. Stop pointing the fingers, accept control of and conservation in your own life. Remember to let it into your heart, then you can start to make it better.

timbeaux (Mon Jan 05 21:41:15 2009)
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