I’m young, I’ve only studied economics once in high school, and I like to questions things, particular stuff that comes up in the media. I like to ask a lot of questions, so I must ask, are recessions really bad?
Americans Will Save 5% of Their Income
Europeans on average save 9% of their income. In the 80s americans saved 9% of their income, but that has steadily declined to 0.5% in 2005. Whenever something bad happens in the world, we always hear our politicians (well, american politicians at least) say, “spend, spend, spend!” It seems like we’re being sent mix messages when it comes to saving. The wise voice of an old Grandpa tells us to save, it’s the only way to move up in the world. And then there’s this other voice saying, “spend, do your duty to save our economy,” which seems to make only a certain few richer.
Saving Means Less Consumption, Less Consumption Means Better Environment
There’s no doubt that consumption is causing us to consume more of our planets resources than it can handle. As well, consumption is the end product of all the chemicals that gets released into the atmosphere. Less consumption, less bad stuff going into the air.
Does it bother you that an identity of a “consumer” has been forced upon you? I find this label almost kind of de-humanizing, where I become a person who just uses stuff.
The Media Says We Should Be Scared
The media says we should be scared, but it’s this fear that I’m starting to question. I think that through a recessions, we will still have food on our table, you will have a place to sleep, and the Internet probably won’t crash.