Spend More and Save the Economy

The US economy flourished in the past by encouraging consumers to borrow and spend rather than save. The recent meltdown has created havoc on the consumers. Drastic spending cuts by the consumers have added exponentially to the recession and more than one can imagine. Government has been trying for some time to get its banks to lend and its citizens to borrow again. Even though the excess borrowing caused the problem in the first place, it appears that that may be the only way out of it as well. Historically low interest rates encouraged people to borrow and banks to lend. US personal saving rate fell from 12 % in the early 1980s to -1% in 2006. It appears like a classic catch 22 scenario where in order to revive the economy; the private consumption needs to be revived as well. Based on this thought, I was trying to do my share of spending ;) as if I need any extra reason to shop…Now my passion to shop has a worldly cause associated with it “spend more and save the economy ” …So what I have closet full of clothes, accessories and everything else that I really need.. So what my boys have roomful of toys and more clothes than they can actually wear…. And so what my house cluttered and stuffed with books, things, electronics and what not…. And so what home cooked meal is more healthy and nutritious than the outside one…Once you get bitten by this “spend more and save the economy bug” nothing should stop you from spending…. And that’s when this word “Recessionsita” caught my attention. Macmillan Dictionary website declared it the word of the week. It is one of the top fashion buzz words of 2009. The word recessionista means originally a person who enjoys dressing fashionably on a budget. It also encompasses the universe of dining, entertainment and beauty. How clever I thought that few intelligent minds are trying to cash in against these destitute situations. . If people can be so ingenious at the time of crisis of this magnitude, one must appreciate their efforts. As the world economy tanks, people are finding pleasures in finding bargains rather than splurging. Even for the well offs its beginning to appear gauche to show off their conspicuous consumption. So the new buzz word is spending smartly but cautiously. . It is very chic to save but even more chic to get a deal. Any girl wants to look stylish but also be perceived as smart. And no one likes frugal. So let’s do our share of reviving this economy. And maybe- just maybe we will help save few jobs along the way….The consumer universe has opened up as a bargain basement and let’s go find our treasures!