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Five Good Things About the Coming Recession
(November 2, 2005)
As readers of this blog know, it seems obvious to me that the U.S. economy will slide
into a deep recession in 2006. The excesses and imbalances of debt, credit, government deficits, rising inflation, trade
deficits, foreign ownership of U.S. bonds and rising energy costs are simply too large to be massaged away
much longer.
But rather than view this "slowdown" (a nice way of saying you're laid off and I'm not--yet) as a negative,
I've assembled a quick list of some positives that may well be the silver lining on a deep recession:
Americans will eat better because they're forced to cook homemade meals. If Americans get fired and run out of money,
just maybe they'll start cooking real food again instead of going out for junk food or buying frozen pizza.
Americans will drive less, improving air quality, and walk more, improving their health. After
the Acura dealer repo's
your pride and joy, maybe you'll start walking to Safeway, even though it is an incredible two miles away.
Or maybe you'll buy a bicycle and get there in ten minutes and not have to worry about parking--and like the
convenience.
Americans will finally tire of "reality TV" as they will finally be dealing with enough reality
in everyday living. Watching TV all day long after they've been laid off might just push people
to the point that they prefer to start living life rather than passively watch the big screen.
The high cost of food might make people interested in growing their own food. Americans might yet
again discover how much tastier a homegrown green bean or tomato is compared to factory-grown produce
trucked hundreds of miles.
Americans might start wondering why their nation's finances lay in ruins, and start asking who held
the reins of power while the imbalances and excesses grew to monstrous dimensions.
OK, maybe these are all wishful thinking; but they do suggest a deep, prolonged recession might be just what
the doctor ordered for a corrupted, out-of-touch nation currently enjoying the last days of a fantasyland
dependence on foreign capital and foreign oil.
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copyright © 2005 Charles Hugh Smith. All rights reserved in all media.
I would be honored if you linked this wEssay to your site, or printed a copy for your own use.
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