Since it seems every blog post I do is wrapped up in the recession, I've decided to start doing a recession journal, a chronicle, if you will, of things in the media and things on the ground. This recession is affecting Americans in different ways, depending on their economic circumstances, their attitude toward risk, their political leanings, and other factors.

Yesterday, a poll was released showing that 3 out of 4 Americans are angry about where the country is going. Do I consider myself one of the angry 75 percent? I wouldn't say I'm livid about the mess we have sunken ourselves into, but I am frustrated. I'm frustrated with the lawmakers, the leaders, and the corporate big shots who let government and Wall Street go wild with the credit cards. They should have been watching out for these things, I reason.

But then I remember that I too am an accomplice to this fiasco. After all, didn't I feed the frenzy by taking on credit card after credit card? Didn't I mortgage my home with less than a solid down payment? I got caught up in the spending frenzy just as much as those crazy bankers. In some small way, I helped push us toward the economic brink.

There is a silver lining to this crisis, of course. Business school made it clear that these swings in the market were necessary. The system, they say, has to cleanse itself and regain equilibrium, and it does so inevitably. At the end of this disaster, the market will be right again. It will work like it should, and it won't be based on inflated assets and wishful thinking. By the end of this, Americans will learn to live like they always should have been, responsibly and within their means. We will learn to live a little more down to earth, a little more like the rest of the world.
 

And I think that is a good thing.
 

One comment on “Recession Journal #1: I am an Accomplice!

  • Our country had been so much affected by this Economic Recession. there are lots of job cuts and company shutdowns. We are seeing some signs of economic recovery right now and we hope that it would continue.
    *****

Leave a Reply

Your email address will not be published. Required fields are marked *