Benefits from Hard Times

Benefits from Hard Times
Polyanna is bound to be having 2nd thoughts if she is much exposed to the news. There are bound to be some lasting benefits from the current economic conditions. There are probably some short term benefits as well. Teachers and other public servants who have had to suffer with inferior wages at least can compare their lot favorably with people who are unemployed. Somehow being better off because someone else is worse off is not really all that great.
The auto manufacturers are bound to be happy to smash the unions. Public sympathy does not seem to be with the UAW right now. Think of this though. If their wages are reduced, what does this do to the general economy. The industrial bailout where everyone has to suffer a little may have some short term benefits. Long term everyone still loses. Metaphorically, our country is going into deeper debt to cover daily expenses. We could use the money obtained through this debt to buy assets like bridges, roads and schools. The money would put people to work.
Long term, we would be better off because we would at least have an asset to show for the crippling debt incurred. The asset may even help generate revenue to pay off the debt. It is similar to the choice between borrowing money to pay rent or borrowing money to buy a house.

David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com