Pinching The Penny

Doubt and controversy are sweeping the nation as the USA appears to be on the verge of an economic crisis. One question worth asking is: Will this really be a crisis? Arguments have been raised on both sides of this issue. Some critics and media suggest that an economic catastrophe is inevitable. Others view the potential recession as a building block for better American economic stewardship. The End of the Economy, a recent post by Christopher Ketcham in the Counterpunch blog, makes a strong argument against those who over-dramatize this pending economic "crisis."
Ketcham uses bold, witty remarks to discuss his opinion about mainstream media's interpretation of the economic decline's effect on America. According to Ketcham, many see the crisis as a looming disaster because it will force them to abandon flambouant living and adopt a more simlistic lifestyle. This point packs a powerful punch, but in some respects, doesn't consider all possible ill-effects of another Great Depression. The economic condition of the United States has a much broader effect than Ketcham accounts for. While those who are in a wealthy upperclass family may have to downgrade their vehicles and houses, many average middle-class families could face dire difficulties in survival. He fails to consider the strain that could be imposed on people recieving government aid or other monetary funding such as senior citizens.
Most people reading Ketcham's arguments would agree that Americans should be more responsible with our resources. Landfills are full of waste that could have been used more wisely instead of disarded blindly. All these statements are valid and, if acted upon, would improve economic conditions. Unfortunately, this point alone cannot excuse the fact that there are hungry families living on minimum wage who struggle to pay rent. Another Great Depression would devastate those who already struggle to make ends meet. Ketcham's point becomes bittersweet to those who agree with the truth presented, but live in fear of how economic disaster could leave them jobless, starving, and on the street.
Ketcham makes a point that no one will be able to play the "game," in an economic recession. Instead, survival would force maturity and sensability into the American people. This is a great truth that would change values of people to some extent for some time. Although it would be nice to assume that people's values would endure, we must remember that the 1920s was an era of mass consumerism. The Great Depression surely taught those involved a great deal about sensability and value. Obviously, as today's America shows, we have yet to fully learn this lesson of economic stewardship. History, as seems, may repeat itself. When will we learn our lesson?
Ketcham is justified in his anger toward a society of wasteful ingrates. An economy spiriling towards some extent of crisis would force those in the lap of luxury to downsize. To many, this could be hope for the start of a better economy. For others, this could spell disaster. Ketchum forgets to look at the issue from their perspective. The disaster would lie in the fact that some won't have the option to downgrade. Their only downgrade may be grocery shopping in the McDonalds dumpster.
A county filled with those who pinch pennies, no matter what financial bracket, in order to better the quality of living for others, would be ideal. Christopher Ketcham envisions this kind of society. He makes a powerful argument against those who whine about the responsible kind of lifestyle that kind of society demands. Unfortunately, he seems to forget about those who may be trampled in the downfall of the old system. Is the economic boogey-man really knocking at our door? It depends on who's looking through the peephole.