Photo: Petr KratochvilYou can't turn on a television or pick up a newspaper or listen to NPR without being deluged with experts sharing their opinions on the current state of the economy. But just in case you've been cloistered in a Tibetan monastary, here's the 411 -- to quote one of my friend Q's favorite lines from Fitzgerald's Great Gatsby: " 'There's been some bad trouble here!', Tom said excitedly." And, as is true in the book, that's something of an understatement.
On one of this morning's programs, a newscaster lambasted a financial expert for pointing out that America's greatest resource -- the productivity and creativity of her workers, or what has traditionally been called the "American work ethic" and "Yankee ingenuity" -- has NOT been compromised by the current problem. He asked that Americans keep some perspective and expressed his belief that the economy will right itself and life will go on. He said, "We haven't had a nuclear war. "
The newscaster responded by repeating every negative thing any other analyst she knew had said. I don't need to go through any of those here because we all have been steeped in them. Her goal, apparently, was to get him to recant, to join the chorus of voices telling us that the end is at hand. To his credit, he did not. He stuck to his principles and maintained that we can rise to the occasion and make it through this mess, just as we've made it through others.
But the fact that he was challenged for stating something positive got me thinking . . . and remembering how, in the wake of 9/11, our President urged us to go to the mall. (?!?!) People, I love a good shopping spree, too, but we were a nation in mourning! A nation on the brink of war! We were sad and we were frightened and we were angry. And the leader of the Free World advised us that the most appropriate response to this national crisis was a trip to the mall?! Not, mind you, the Mall in our nation's capital. That might have made some sense . . . to visit the monuments and remember the sacrifices others had made in preparation for the days ahead. No . . . we were supposed to get out our credit cards and head to TJ Maxx and JC Penney to indulge in "retail therapy." And, apparently, the fact that we are "cutting back" and using those cards in moderation now is part and parcel of the crisis.
Which raises a question for me: At what point was our value as Americans commuted from producers to consumers? When did it become irrelevant that we are a creative, ingenious people and matter more that we will rush like lemmings to purchase the latest XBox or iPod?
And why, with all the analysis that's being tossed like chum from a fishing boat -- except I think it's the sharks who are doing the fishing -- is no one saying what seems so obvious. Surely I can't be the only person who thinks that somewhere along the line our economic model made a fundamental and dangerous shift that has served the short term at the expense of the long term. No one is saying -- "Hey. Maybe an economy that's based on convincing people to buy things they don't need with money they don't have is doomed to fail. Maybe, while we straighten out this mess, we could improve on the basic model." Yeah. Maybe. Do you think?!
There's a Janis Ian song -- I think it's called Between the Lines -- which contains the lyrics: We live beyond our means/On other people's dreams/And that's succeeding . . .
There are so many of us who are smart enough to know that isn't true. Quick . . . let's tell the others!! And maybe we should start on Wall Street and Madison Avenue.