TERRE HAUTE — This month, inside a church on Terre Haute’s south side, a minister reminded the congregation of the wealth we enjoy.
Few of us probably feel that way, especially after a nearly two-year recession has made the phrases “pay raise” and “job security” seem as out of date as a 45-rpm record. Us, wealthy? Now? Say what?
Yet, most people on Earth live on less than 2 bucks a day, he said.
In fact, according to a report by BBC Radio World Service, nearly half of the world population survives on less than $1 each day. A life under those circumstances likely means few opportunities to better themselves, and exposure to hunger and illnesses. Jobs, education and hope are hard to find, not to mention safe water, functioning showers and toilets, and reliable electricity, according to a United Nations summary.
Thanks to the American spirit and ingenuity, those problems aren’t the norm here. We’re not used to living in such conditions.
There is no doubt the Great Recession — which began in December 2007 and finally has begun to end — has been unforgiving. Its most wounding aspect, especially in Indiana, is unemployment. While a gradual recovery takes hold in the rest of the economy, the job market won’t bounce back for at least another six months, and by then, the recession will have claimed 8 million U.S. jobs, according to Bill Witte, an economist at Indiana University’s Kelley School of Business.
And clearly, this recession’s grip is far stronger than any in recent memory. That grip is loosening very slowly, compared to other recessions.
“The strength of the recovery is usually proportional to the depth of the downturn,” Witte said at the annual IU Kelley School of Business Economic Forecast. “But we don’t think that’s going to be the case this time.”
He added, “We don’t think that consumption is going to be a driving force, as it has been in past recoveries,” Witte said.
When the dust settles on this Black Friday weekend, the status of American consumerism may be more clear. A Reuters-University of Michigan poll, cited in Wednesday’s Christian Science Monitor, showed a decline in consumer confidence this month. People remain worried about their jobs, and rightly so.
As a nation, though, the worst of this long, draining experience seems to be over. At some point, our economy will improve. We’ll start working again. We’ll build new houses in greater numbers again, and hopefully finance them more wisely. We’ll start new businesses again, with more responsible lending. America will recover, just as it always has.
It should strengthen us to remember that even in the roughest patches of this recession, our standard of living is only a dream to people in many places around the globe. Many of us have scaled back spending for the holidays, and have decided to focus on family instead of gifts at Christmastime. With more neighbors struggling to pay their bills and for medicine and groceries, more of us understand the need for contributing to food banks, shelters and charities. As entire industries get overhauled or — worse yet — disappear, lots of Americans are figuring out they’re capable of being re-trained for new lines of work.
The Great Recession is certainly not a desirable event. But it happened, its effect is still with us in many ways, and that fallout will be apparent for a year or two. Maybe the thing to remember this holiday season is not how bad this ordeal has been, but rather how fortunate we are.
One of the greatest feelings in life comes from things you can count on. A car that starts reliably, with a working heater and radio. A house that’s warm and safe. A job with a paycheck that arrives on time. Friends who hang in there. Loved ones who stick by you. Communities that offer help when things go wrong.
By many standards — before, during or after a recession — we live richly in America.
Mark Bennett can be reached at (812) 231-4377 or mark.bennett@tribstar.com
Mark Bennett Opinion
MARK BENNETT: Americans have been experiencing tough times of late, but this country has a lot going for it
- Mark Bennett Opinion
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MARK BENNETT: Toxic victories
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That doubt hurts the country. -
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MARK BENNETT: Value of every minute deeply realized on 9/11 (related VIDEO)
Editor’s Note
This summer, the Tribune-Star’s Mark Bennett visited New York City, Washington, D.C., and Shanksville, Pa., sites where the terror attacks of Sept. 11, 2001, are now memorialized. He observed the cityscapes and landscapes forever changed by the events of that day and talked with people he encountered there, many of whom witnessed the attacks and their aftermath from close range and had personal ties to its victims. -
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MARK BENNETT: A degree can open doors but in this day and age, is it enough?
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MARK BENNETT: From Mother to Child
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As George Costanza’s volatile father on “Seinfeld,” Frank was told to say, “Serenity now,” whenever he felt his blood pressure rise. Instead, Frank screamed the phrase, defeating the purpose and illustrating his perpetual state of agitation. -
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The statistics are hard to accept, especially for a community proud of its progress.
The situation those numbers expose is difficult to change. -
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MARK BENNETT: Commission calls for academic success to be tied to NCAA Tournament participation
Follow the money.
That advice from Watergate informant “Deep Throat” led Washington Post reporter Bob Woodward to the truth that uncovered corruption in the nation’s public office. The concept applies to situations beyond the Oval Office, though. - More Mark Bennett Opinion Headlines
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MARK BENNETT: Toxic victories
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