Today is now being labeled Black Friday. This term is a throw back to the day the Stock Market crashed in 1929. It appears the same kind of panic which lead to the crash of the market and the recession and depression which followed is occurring today. Many people are shocked and taken by surprise, but economist have predicted this event for several years. Factors which lead to the event in 1929 where once again in play. Add to that the greed which drove the heads of the investment companies and it is easy to see how things have come to this point.
People have grown used to having what they want immediately. The idea of working and saving the money for a major purchase was considered old fashion and too time consuming. The fast food concept carried over to the purchasing of cars, homes and big ticket luxury items. People became spoiled to using credit cards and using them to live above their means. The federal government set the example as it lives far beyond its means.
People are now in a panic and fear they will loose all of their worldly goods and have begun to sell their stock. This type of panic is the same thing that caused the stock market to collapse in 1929. Although the government has made an attempt to calm fears their attempt has not worked. The level of fear is an indicator that the American people and indeed people around the world have no confidence in the United States government as it stands today.
It appears things are going to get worse before they get better. How are people going to face and survive this major crisis? Well one piece of advise is to get back to basics. Exactly what does that mean. It means it is time to determine what really matters in life. Living in south west Louisiana we have experienced two major hurricanes in three years. These two storms Rita and Ike, flooded vast areas of farmland and destroyed thousands of homes, businesses, schools and churches.
People who had lived in their homes for fifty years were forced to either abandon their home or take steps to lift them above the level of the flood waters. Many people were displaced and faced the task of starting all over in the senior years of their lives.
Although the devastation was difficult to view and to handle, a theme arose from the lips of those who lived through the experience. “Well what we lost was only material things. They can be replaced. We still have our lives and the lives of our family and friends. We will just have to go back to the basics.”
After decades of not conserving, now people are being to see the need to conserve. After decades of not caring about credit card overspending, now folks are becoming conscious of the high price to pay for such behavior.
People who grew up during the period of the 1930s and 40s were often criticized by the children of the 50s, 60s, 70s, 80s, 90s for their “penny pinching” ways. It appears the cycle has come full circle. Now everyone is going to have to learn work for the things they want and not just mindlessly charge it to a credit card. People will have to learn to get back to the basics. Walk more, drive less, eat at home as a family instead of stopping by a fast food restaurant.
It will be interesting to see if people return to the most fundamental basic of all, taking time to worship. The most basic aspect in the history of America has been that of Christian worship. The founders of this nation were individuals who sought guidance from God. It was not by accident that the monetary tenure carries the words “In God We Trust” on it. During the past twenty years church attendance was in a decline. There was a spike when the Twin Towers were attached, but that did not last long.
Here we are facing one of the biggest financial crisis since the “Great Depression” and people are afraid and stressed because they do not know what's going to happen next and what to do. The answer is simple. Go back to the basics. Our ancestors did not buy a new car every year. They did not purchase a house that was beyond their means. Several generations of a family resided together. This is a cost saving measure in several ways. People can pool resources for paying the bills and grandmother can take care of the children if the mother works outside of the home, alleviating the need to pay for daycare. Families shared meals together, which increased family interaction and decreased incidents of juvenile crime. Children were taught the value of a dollar and were given jobs to do to help handle the household chores.
Yes, these are difficult times, but there can be a silver lining to this crisis. History may serve to prove that it caused people to get back to the basics which turned out to be far more valuable than all of the money lost in the stock market.
