Friday, November 21, 2008

now

The other day my roomate brought home a stack of only slightly aged MacLean's magazines. As a kid who's always been interested in writing and is now completing her journalism diploma, I've picked through a bunch of them. 

The front cover of one of the magazines proclaimed these words;

THE JOY OF FRUGALITY.

In light of the economic crisis, writers have been bouncing around a number of ideas about the effects on the general population. 
Combined with my recent read of 'Enough' by John Naish, this is the best I've come across.


The economic crisis that’s spreading around the globe like wildfire through a dry forest is scary. Even level-headed economists are scratching their heads and wondering what the long-term fallout will be. “It’s historic and it’s global,” says Sherry Cooper, chief economist of BMO Capital Markets. Banks are not only unwilling to loan money to each other but cutting off even credit-worthy individuals in search of mortgages. “Confidence has been just slashed, no one knows how this will work itself out,” says Cooper. There’s a growing sense that our lifestyles are about to be dramatically transformed. For the first time in as much as half a century, a new, “frugal future,” as some economists have come to call it, seems all but inevitable. “Frugality is now replacing frivolity,” declared Merrill Lynch economist David Rosenberg. Households are about to be put on a radical diet; debt is a dirty word again, and living within one’s means could soon be a fact of life.


I find it sadly amusing that the prospect of living within ones means is somehow a novelty, some sort of new and innovative idea.
However the author of this article sees hope, that the economic crisis may be just what North America needs.

This financial crisis may be the equivalent of Buckley’s cold medicine—awful tasting, but good for what ails us financially and spiritually. In fact, a simpler, pared-down and debt-free lifestyle just might make us happier and healthier than we’ve been in years.

The article speaks highly of this generations pre-crisis ideas, the less-is-more attitude that a lot of people have already taken on. 

To read the entire article, (and I highly recommend it) check out this link;

http://www.macleans.ca/business/economy/article.jsp?content=20081022_87650_87650&page=1

And hey! You! 
Yeah, you.
I wanna hear your thoughts.

5 comments:

Ashley said...

Fantastic article. I really agree that this economic crisis could be just what North America needs. Scary, but true. Thanks for sharing!

Tyler and Kristin Smith said...

I think we have a major "consumer" problem as it is, so this is somewhat refreshing if that's the right word?? Great article - I love what you wrote, and what you write. Now I have to explain how I found your blog so you don't think I'm a creep - I know your sister Erin. (and your cousin Kristen, and I was friends with your brother-in-law's brother Jess - how's that for info?!)

Theresa said...

This is fantastic...Now being very scottish in heritage have been living like this for years!!! But I am glad to see the world coming along with what the Profets have been saying for a long time. IT is going to be a scary time, But if we immerge a better people in the end it might just be what we need. Great writing and reading...way to stay informed..and did I notice your are completing your degree this year?!?! Congrats...make sure to keep us informed of your job prospects cause with writing like this you'll sure have a few to chooss from!

NW. said...

i love this idea, this theme, the works.
I don't need to repeat what we've heard over and over on the news... (irresponsible loans, low-credit, golden executive parachutes, bla bla bla..) I just feel like there is definitely a silver lining it all. A very thick silver lining.
They say it will take awhile to adjust and get things back to "normal". Is that really what we want? To get things back to the way they were? Uh.... wouldn't that that just cause more problems.

I trust there are some experienced, knowledgeable people that are planning the recovering. People that know more than me, but i sure hope we're all careful with the decisions being made.

Isn't "Enough" perfect right now?
I'm reading it again over the break, for sure.

NW. said...

apparently i'm going to start leaving essays for each comment. Hope thats cool. ha