Cruising through a recession
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We’re not saying the recession is over, but we’re starting to wonder how it will be remembered around here.
In places such as Florida and Las Vegas, where the housing industry has been hit so hard, people won’t forget the suffering for a long time.
And, of course, plenty of Central Iowans will always remember the loss of jobs that they thought were secure. They’ll remember the sick feeling they got while watching their investments evaporate.
But just as slices of routine life remain in the midst of a war, it’s remarkable how much has stayed the same around here.
People worry about the price of almost everything when the economy falters, but they still fill the restaurants. They still replace their cell phones because the new ones look cooler.
Television news constantly monitors the price of gasoline, but people still drive alone to work, then drive across town for lunch.
On college campuses, the dumpsters still fill with perfectly usable furniture and electronics when spring semester ends.
When asked in surveys, Americans say they’re using more coupons, buying more store brands and expecting to practice frugality even when prosperity returns. Well, maybe. But maybe some of that is people saying what they think they should say.
Time magazine reports that sales of canning equipment are up. But then, we’ve always been interested in buying things. The test will be whether that equipment gets used. More than once.
History suggests that Americans leave a crisis with their material cravings intact.
And here in “the worst recession since the Great Depression,” many of us have adjusted our patterns only enough to fool ourselves.
Vacation travel may drop, but we still fill the theaters for second-rate movies. Jewelry sales may be off, but we’re buying thousands of Nikon D90 cameras at $1,000 apiece.
“Austerity” has a real meaning. This isn’t it.