My own economic fortunes look pretty good now. Sure, the small amount of money I've placed into a mutual fund (less than $15,000) has lost value and the modest 401K at my place of work isn't doing that great temporarily, but it's still good times.
One measure of success is how you compare to others around you. If just about everyone Else's assets are dropping around you, your own well being is kind of a relative thing. Sure, mutual funds are hurting, but a lot of people are in the same boat. Wealth is often perceived in relative terms.
I would feel worse if my tiny savings were dropping while others around me continued to see their house values growing. Then one could feel like a fool not owning a home.
There's no responsible way I could have paid those high monthly mortgages of home ownership over the years. Not, at least without having to take on the headaches of being a landlord right from day one of owning. It's not just getting used to the responsibility of owning, but being a landlord to boot. Talk about baptism by fire.
No, I'm just a renter, but it's been a good time. Now that home owner's values have been dropping around me, it doesn't look as bad.
Economists will say bad times are actually good times to invest. Put money into mutual funds when they are low. Still, it's kind of scary as they seem to be going still lower (for a while at least).
Seeing so many fortunes drop around me makes it feel like I'm in good company at least, but I still may not have the stomach to invest right now. I've never had much fortune anyway. It's just a couple of hundred dollars now and then.
Keeping some extra cash in the bank can be good even though interest rates are low. Return on investment is low, but one reason for saving is just to hang onto the principle.
Same can be said for US Treasuries. Ironically, Uncle Sam is said to be the most solid investment there is, but Uncle Sam may have the worse looking balance sheets of them all.
Money sitting in "cold storage," such as low interest FDIC accounts, does loose ground during inflationary times. There's news of gas prices continuing their climb, but I don't drive.
Yes, I've never learned to drive a car.
I feel pretty good riding my bicycle, especially these days. It's also nice to be living in a small rented room close to my somewhat low wage job.
While I can be smug and not worry about filling up the gas tank, some environmentalists say that oil shortages will lead to a food supply crisis.
I've noticed slight food price increases, but it's not devastating.
Some of my friends have tried to live in bigger spaces so they can have gardens; survivalist style. They are struggling just pay their mortgages, or rents on the bigger space. They're also grumbling about buying the gas to commute farther since the bigger spaces tend to be in outlying places.
I'm still just walking to the supermarket and paying a bit more for my chocolate milk and apples. No big deal.
At least I've still got my job. It's never been a real prestigious one, but it's "low hassle."
I've been living in this small space for 21 years now.
Still have a good life counting my wealth in the number of friends, rather than financial assets.
People passing me by in their glitzy SUVs haven't been laughing at me too harshly over the years. Now it looks like more folks are thinking of joining my somewhat modest path in life.
Is this a big sacrifice? Not necessarily. There's new technology, so we can still look forward to a brighter future. The modest path doesn't have to be a dark path. Bike lights with LEDs are sure a lot better than my childhood memories of flashlights with the batteries always wearing out, or generators that kept breaking.
Better is always a matter of perception. Better doesn't always have to mean more consuming.
Glad I'm healthy enough to ride a bike, but even if that weren't the case, one can still sit in front of a computer, I guess. At least the Internet doesn't have to be too costly. The Internet is not costly compared to a mortgage. Also not costly compared to traveling the globe, or health care costs.
That's another dreadful thing in our economy. What do people do when their health runs out?
Hang on to your healthy and non obese living as long as you can.
In the end, the spirit might be the only asset we can take with us.
Take where?
Looks like I should postpone that question and go get something to eat.