Frugality is bad for the economy
“Frugal Families aggravate nation’s woes”: so trumpets the Wall Street Journal, with a picture of a middle-class family at their kitchen table. Read it here!
Honestly, I can hardly see how learning to live responsibly can, in the long-term, hurt our country’s economic health.
My personal situation: as I said in an earlier post, I am trying not to be embittered. I have always been pretty responsible, yet I too lost about 40% of the equity portion of our retirement accounts. So (in the bitter mode), I missed the good times of consumption, but am subject to the same downturn as everyone else!
Would it be true that the habitually frugal (like yours truly) would NOT be aggravating the nation’s economic woes? I am going to be spending the same as last year. Plus, we’re planning on the following: some new slipcovers for chairs, a family trip somewhere, perhaps Boston and New York City, an expensive implant for my tooth (that should help the oral surgeon from his downturn), and Mr Frugal Scholar is itching for a new-to-him expensive bicycle (that should help someone who wants to/has to sell his bicycle).
Dear readers: no doubt this will be picked up by all the big blogs. But let this little blog know what you think!