Monday, March 24, 2008
It was an interesting week.
And I should expound on my manic misadventures over Spring Break, but I have a recap instead. I cover lots of topics in this space, and sometimes I wonder why I bother. I have few (if any) readers, so this blog could be considered nothing more than a useless exercise. I would disagree, if I had anyone with whom to argue. Anyway, I was surfing, and I found an interesting article on Yahoo! about how Americans are wondering how bad the economy could get.
Well, such a topic demands my attention, so I read the article, and lo and behold, it covered the same ground as a post I wrote a few weeks ago! The report detailed how average Americans are preparing for the worst, with previously safe jobs now seemingly in the balance. Perception may not equal reality, but it does equal action. (The implication is that this is not always a good thing.) I recognized the theme, especially the dawning realization that we could legitimately be headed for an economic meltdown of epic proportions, with nothing sacred. My own actions taken since the bad news is a conversation with my mom about the potential loss of her Section 8 housing voucher, and where she would have to live. She could always stay at my place, and I would have to figure out her money situation and my new living situation. I have a decent location, but I doubt my mom could find a job close enough to match her earnings at her job now. All adult children should have this conversation, I know. Still, there is an immediacy that was lacking before. The family was worried about what would happen if my mom couldn't work, not that she would lose her rent subsidy. Everything is now on the table, and when have anyone in my generation been forced to confront such a reality?
My main fear with speaking to my mom in the past and discussing the economy with friends is that I came across as an alarmist. No one likes Chicken Littles screeching about the sky, and I always tempered my conversations in the past. Only Scott understood my point of view, and if we were nothing more than a pair of Chicken Littles, at least we would be in good company. The Yahoo post, while milder than some of my posts or conversations, validated the point I've be trying to make. It reinforces the underlying point I've been expressing: to survive all this upheaval, I must stay ahead of the curve. Economists call it the greater fool theory. If I bought an overpriced condo, I have to hope someone will purchase it at a further inflated price to show a profit. I was the greater fool for someone else, and someday hope to return the favor. The margin for error, should things get really bad, will be razor-thin, and success will be determined by what one does now. I've reread the article many times, both worried about what might occur and savoring a small nod from the fates. My efforts have not been in vain.
Well, such a topic demands my attention, so I read the article, and lo and behold, it covered the same ground as a post I wrote a few weeks ago! The report detailed how average Americans are preparing for the worst, with previously safe jobs now seemingly in the balance. Perception may not equal reality, but it does equal action. (The implication is that this is not always a good thing.) I recognized the theme, especially the dawning realization that we could legitimately be headed for an economic meltdown of epic proportions, with nothing sacred. My own actions taken since the bad news is a conversation with my mom about the potential loss of her Section 8 housing voucher, and where she would have to live. She could always stay at my place, and I would have to figure out her money situation and my new living situation. I have a decent location, but I doubt my mom could find a job close enough to match her earnings at her job now. All adult children should have this conversation, I know. Still, there is an immediacy that was lacking before. The family was worried about what would happen if my mom couldn't work, not that she would lose her rent subsidy. Everything is now on the table, and when have anyone in my generation been forced to confront such a reality?
My main fear with speaking to my mom in the past and discussing the economy with friends is that I came across as an alarmist. No one likes Chicken Littles screeching about the sky, and I always tempered my conversations in the past. Only Scott understood my point of view, and if we were nothing more than a pair of Chicken Littles, at least we would be in good company. The Yahoo post, while milder than some of my posts or conversations, validated the point I've be trying to make. It reinforces the underlying point I've been expressing: to survive all this upheaval, I must stay ahead of the curve. Economists call it the greater fool theory. If I bought an overpriced condo, I have to hope someone will purchase it at a further inflated price to show a profit. I was the greater fool for someone else, and someday hope to return the favor. The margin for error, should things get really bad, will be razor-thin, and success will be determined by what one does now. I've reread the article many times, both worried about what might occur and savoring a small nod from the fates. My efforts have not been in vain.
