With oil prices at record highs, and prices at the pumps surging not only daily but nearly hourly, it looks like the economy is in the dumper. Consider this, though. Is this a real economic crisis?
Every time we turn a corner, things have gone up in price. From gas to groceries to furniture, it’s all on the rise. These things have always been on the rise. When I was a teenager, gas was .29 a gallon and a loaf of bread was .15. I could get a Coke for a dime and it was fifty cents to see a movie.
During the 70s we had the so-called gas shortage, then later a so-called paper shortage. Neither one was ever in short supply. The “gas shortage” was trumped up by Big Oil seeking to line their fat pockets even further. Gas prices went to over a dollar a gallon during that time. The “paper shortage” was the result of a late night TV host cracking a joke. It was never a reality. Bear in mind that low crude prices are what trigger a so-called shortage.
As I recall, and I do, very clearly, there was much wailing and crying and gnashing of teeth when gas prices went to $1 a gallon. “What is this world coming to? How will we ever be able to buy gas at that price? The economy is in the dumpers for certain!”
Every year, prices rise. Every year you have yellow-press journalists screaming “the sky is falling” and fear-mongering economists blaming everything from the administration to the weather to lack of education. Let’s get real. Prices rise. Period.
When people want higher wages, prices must go up. When people want more freebies from the government, taxes must go up. It doesn’t matter who the President is or what political party is currently running the Congress, it’s just the same song, different verse. And what do we, as consumers, do? We adjust, just like we always have.
From the ancient days when bartering went from one goat for a bushel of wheat to two goats for the same bushel, prices have risen. While some things are out of our control, many things are well within our control. Consumers can help dictate prices simply by not purchasing some things, or by reducing the amount they purchase. In a free market economy, the bottom line for big business is the bottom line.
Right now, unemployment is down. Do you know what that means? It means more of you have gainful employment and are not on the government dole. It means you are helping to produce a more healthy economy for yourself and for the nation. And no matter what your job may be, it’s worthwhile to do it, and do it well. It also behooves you to make sure your employer is profitable so you can keep your job and get raises in due time. That’s the real economy.
The economy isn’t what the “experts” say it is. The state of the economy isn’t dictated by them, the President, or the Congress. It’s dictated by consumers, employers, and employees. So stop your whining and crying about how things are and set about to improve yourself and your job, and the actual business your employer is in. Make it strong and you will help make the entire economy strong.
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