“My Two Cents”
By Andy Sutton

6/9/2006

One of the most coveted of the advantages of being a teacher is the fact that we don't have to report for work from somewhere around the second week in June until the end of August. That isn't to say we don't work during the summer, but I'll tuck that debate away for another time.

Having been the benefactor of being able to stay around the house the past 3 summers now, there are certain things that I notice. I can do a pretty good job of judging consumer sentiment by the number of nondescript panel delivery trucks that present themselves in my neighborhood. These trucks deliver a mind-boggling array of furniture, appliances, electronics and every other gadget imaginable.

It usually doesn't take long to see the first one after I finish school. This year it took exactly 2 days. My neighbor down the street apparently is still convinced that he can spend his way to prosperity. This time the delivery truck held what appeared to be a cacophony of couches, a recliner, and a large plasma TV. I am convinced that these particular folks burn money nearly as fast as Ben Bernanke prints it. They are a liquidity sponge, high on credit, life in the fast lane, and keep filling the punch bowl darn it.

Ok, so why pick on some dizzy nut who is mortgaging his children's future down the rat hole in the name of consumer excess? I pick on this sad fellow because he is sadly typical. Twenty years ago in the age of reason and fiscal responsibility, he would have been scorned. Of course in that age he wouldn't have had all the 'free money' to play with either because there wasn't any. The simple discipline of 'if you don't have the money, don't buy it is gone in favor of an unending procession of panel delivery trucks carrying the bricks which will ultimately pave the road to an unpleasant eventuality.

A wise man once said that the Road to Hell is paved with good intentions. I disagree. I think the Road to Hell is paved with gizmos, gadgets and big screen TVs. Oh, and I almost forgot.. Cell phones!

Andy Sutton holds an MBA in Economics from Moravian College and is a member of Omicron Delta Epsilon International Honor Society in Economics.

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