Economics 101 should really be a mandatory class. Not saying we wouldn't be in the "Great Depression 2.0" if everyone had aced the mythical class, but seeing as people think this is the most important event of modern times, certainly, it's something worth considering for future generations. Pumpkin and I had a little talk about economics the other night, as we watched a story about a single mother of five (!) who was having trouble making ends meet.
Me: "What's the key to a healthy economy?"
Class dismissed. A +
Notice, she didn't say, "making money", she said "spending money". The wheel can't spin without the oil, and in the case of the economy, greenbacks are black gold. Right now, people are being force fed news on a daily basis about the "Economy in Crisis". Heck, all the channels have their own graphics for it (a torn dollar, a crying George Washington, etc). If people continue to believe the economy is toast, they begin to fear for their own well-being and circle the wagons. They cut back on spending. Less money is circulating, and when that happens, business suffocates. This isn't hard to understand. Here's what really sucks:
Saving money and spending wisely is always the right thing to do, but it hurts the economy when we do it. The economy functions best when people are buying. I'm not saying throw money around like the Monopoly Man, but if everyone all of a sudden gains money smarts, the economy may take longer to restart than we think. I could be wrong, but I doubt it. People are learning more about saving in the past few months than ever before, and that good habit is hurting the country's bottom line. We may get another stimulus check before too long. Why? Washington wants us to spend. I don't think we'd get it if everyone took a pledge to salt every last dollar away. Ain't that funny?
You thanked a Veteran yesterday. Go to a car dealer and thank a buyer today.