We were at Bible study last night, so I missed the President's address. I'm not usually very interested in things like that, but this whole "financial crisis" thing has me paying closer attention.
I've never had a clear understanding of economics, but I find the whole mess a little disconcerting. Mainly because, besides things like higher prices at the grocery store, I've noticed very few changes as a result of this crisis. Remember the Great Depression? Of course you don't, neither do I, but I remember reading about it. People were encouraged to save and ration. People hoarded goods and resources and used them sparingly. But, I feel like we're being told to spend without regard. As if our reckless abandon will save the economy, but what happens if it doesn't?
What happens to the people who are already living beyond their means and the people being convinced to buy houses they can't comfortably afford? What happens to our society that tells us we're entitled to buy anything we want any time we want? What happens when the bottom drops out and the lenders who are also in debt come desperately knocking on the doors of their debtors.
Meanwhile, even though Jeff and I don't lead an extravagant lifestyle, we do buy freely (usually within our means,) and I know we haven't made the kind of changes we should make in light America's financial situation. We bought a house we can afford, even if my income continues to fluctuate, but it took a good portion of our savings to do so, and our ability to save isn't what it once was. Oh, and did I mention we just bought a couch?
Maybe it's time to start taking cues from our Grandparents, or in the famous words of Titan Auto Insurance, "tighten up!"