Couch Potato Activism
So, that's the new way to change the world? Laziness? Self-indulgence? Check out Jared Diamond!
I wonder how far trademark American frugality lasts when vacation choices include one's lawn and walking. How will American households make ends meet?
Just to be clear, the other typical escape route—to save less—is already closed off. In the fourth quarter of 2007, the personal saving rate was zero percent.
This leaves very few other areas where consumers can make sacrifices to accommodate the pressures from higher prices at the pump. Traditionally, more spending on gasoline was also associated with less spending on cars. People are already buying fewer cars and smaller cars as the cost of driving goes up rapidly. And eventually, families will spend less on gasoline simply because there are fewer jobs to drive to.
With all of these added pressures, many more families will find themselves in an untenable financial situation. This will be especially true for lower-income and moderate-income families who spend disproportionate shares of their income on gasoline and fuel. These also tend to be the same families who feel the brunt of an economic slowdown first.
But, how will those patriotically energy-saving stand up long enough to vote for John McCain?
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