Michelle Teheux: My name is Michelle, and I'm a bad consumer
<font size="2">I can't wait to get my $1,200 stimulus package check.
I plan to spend it on a trip to Holland.
I feel a little bit bad that I will be stimulating the European economy more than the U.S. economy, but we were planning to visit my Dutch husband's family this spring anyway. Now we can better afford the plane fare.
This is just one more example of how bad a U.S. consumer I've been all along.
I know I was supposed to run all my credit cards up, and once that was done, if the economy was not sufficiently well stimulated, I was to start in on my home equity and then spend the heck out of that.
I didn't do it, and so I know I bear some responsibility for the poor economy today.
I understand that it was my duty as an American to purchase as large a house as I could get a lender to approve, and then to shop relentlessly until I managed to fill every room with possessions, ideally with items that would need to be replaced regularly rather than with high-quality items that would last a long time.
Obviously, I have let everyone down, and frankly I am surprised I am even going to get any of the stimulus money, since I've unfortunately proven myself over and over to be too selfish to consider the needs of big business.
The problem, you see, is that I¹ve watched too many good little consumers spend their hearts out and then run into some ugly truths.
The nice house they thought they could just manage to afford with some fancy financing is going to be repossessed now that they can no longer afford the payments. Especially since they have several credit cards with high interest rates they can barely make the minimum payments on. They'd like to get some relief from bankruptcy, but that¹s become harder to do now. They're stuck.
It seems a little harsh when they're only doing as they were told.
I remember after Sept. 11, 2001, we were urged to shop and spend as our patriotic duty.
I recall contrasting that message with what people did in World War II, which was to make sacrifices, deal with rations and plant vegetable gardens.
I'm no economist so I don't really know whether the stimulus package can actually help or not.
I suspect it won't. People polled mostly say they'll use it to pay down their credit card balances, which if you ask me is what is in their own best interests to do.
But experts claim most people won't really use it to get out of debt; they'll just go out and spend it right away. Which, of course, is what economists believe is in the economy's best interest.
The world's markets are watching us closely, because it seems the whole world's well-being is based on U.S. consumers consuming like mad, whether they can afford it or not.
Is this a good basis for a global economy? Shouldn't what's good for the individual be what¹s good for society, or am I completely exposing my ignorance about money here?
I don't know much about how the U.S. and world economies work, but I do know how my own family's economy works.
So unless somebody wants to guarantee me an annual stimulus check to blow, I think I'll keep trying to save money.
Michelle Teheux may be reached at mteheux@pekintimes.com.</font>