To paraphrase Zbrezinski, America may survive if it gives up its hedonistic ways. I respect that opinion.
I'm coming from the Dust Bowl Great Depression generation, and I know how to grow potatoes, dig them out of the ground and proceed to a finished product, potato chips. And that's just for starters on talking about frugality. I call it survival.
But in that journey from mule team to laser beam, I respect modern inventions and like to think that when I invest in the stock market through my stodgy little mutual fund that I'm part of modern life. Of course, if a corporate raider comes and messes up a meager investment with go-go plans, I revert to the same worries as I had as a child when banks could take the family farm.
Sometimes I wonder whether the big spenders, the kind who have nothing but yet another credit card to get them out of their need for instant gratification, will not prevail. It's not just the government which is living on the cuff.
During the recent "downturn" caused by 9/11, the Democrats, or anyone who the current administration calls evil, the slogan was "buy." So what if? What if all those who believe they can foot their bills cut back on spending for anything except the bare necessities? What if families believed that there used to be no medical insurance, and what was good enough for grandma is good enough for them?
I thought it a ridiculous statement when I heard that GDP was propelled by consumer spending. Why does a consumer count twice as much as a producer?
If we cinched our belts, would that mean CEO's would jump out of windows? Or would they go to Washington and ask for helicopter patrol to keep us in line?
Our government seems to realize that us Seniors are taking away the Treasury. What they don't seem to realize is that the younger generations don't believe the old saw about "no free lunch" because they had one at school.
Cultural influences are insidious. Politicians brag about how much money they can accumulate, and report every quarter. Corporations' quarterly reports trot out their bottom lines. Meanwhile, the Almighty Dollar is on life support.
I think the whee effect has taken over. If you are broke someone will take care of you. If a company goes under, bankruptcy reorganization will revive it. If the plastic cards are maxed, blame it on the economy. And if a little old lady believes that she shouldn't buy all the stuff hawked on TV, smile and tell her that things are more modern now.