This Recession Is Not All Bad for the U.S.

At least we will be able to move up on the Household Savings Rate for developed countries. Easy credit and cheap money has allowed the U.S. to fall in a false sense of security about the health of the global economy. The rapid rise then fall of the price of gas allowed Main Street to really get in touch with their frugal selves and force them to think more about their financial decisions. There are more benefits to living through an economy in recession:


Pollution Levels will Fall: Due to the high cost of gas and loss of discretionary income forcing people to stay home or carpool.

Family Time will Increase: Because parents will not have money to give to kids to go to the mall or gas up the family car.

Internet Adoption will Skyrocket: Due to people cutting back on phone and travel costs. Even the most technology illiterate person will venture into the unknown world of this newfangled contraption called e-mail.

Productivity On the Job will Rise: Due to the widespread layoffs and fear of “Will I be next,” growing amongst employees in every corner of America.

These are just a few of the “pluses” of living through a recession. Many will argue that the negatives outweigh the positives, but I look at the glass from a half-full perspective. Another aspect that people ignore is the feeling that the good times were never going to last forever. We all knew that the big bonuses could not be sustained but we cashed the checks anyway. We knew that our credit score was in the low 600s and our income could not justify the $5,000 a month mortgage note, but we sure out-Jones the Joneses. Sure that leased BMW 760iL was a little high at $1795 per month, but we could pay Paul later, right after we wrote this check to Peter. Vacation now; pay Visa next month. For those of you who can relate to any of this, shame on you, for those who cannot then you are in a better position than 80% of America so stop complaining and go back to work.

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