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February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
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Jewish World Review
Dec. 5, 2008
/ 8 Kislev 5769
Silver lining in the downturn
By
Linda Chavez
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http://www.JewishWorldReview.com |
It's time we 'fess up: Nobody has any idea how to get us out of the economic mess we're in. The Big Three automakers were on Capitol Hill again this week begging for a bailout. Treasury Secretary Henry M. Paulson is considering direct federal intervention into the mortgage market by subsidizing new loans at very low interest rates. The stock market continues its roller coaster ride, down hundreds of points one day, up hundreds the next. Meanwhile, President-elect Obama waits on the sideline with a financial team made up mostly of old Clinton hands, well respected but with only the traditional federal spending stimulus solution in their bag of fixes. No wonder most Americans are holding onto their wallets.
I've long been an advocate that Americans should save more and spend less on stuff they don't need, especially when it's paid for on high-interest credit cards. And a Christmas shopping trip this week to my local mall suggests a lot of people are doing just that.
Spending on Black Friday was up 7 percent, according to early estimates but by the following Tuesday, the Northern Virginia mall I visited was nearly empty. In past years, I've found plenty of company, but this time the stores were nearly deserted. Clerks stood around talking to each other, and there seemed to be fewer salespeople even in the high-end stores. The guy playing the piano in Nordstrom looked lonely; the barista at Starbucks seemed bored with no customers waiting to pay several bucks for a caffeine concoction. Sure, there were big sales signs and lots of tinsel decorations, but it hardly seemed like the holiday season.
Conventional wisdom says this is a bad thing. America's economy, after all, runs on consumer spending. If people aren't buying cars and washing machines, or even new cell phones and Blu-ray players, workers will lose jobs; we'll suffer a longer recession; and life will be more difficult for everyone.
But what if this short-term medicine, bitter though it may be, actually makes people behave more responsibly? Maybe those missing shoppers will pay down their credit card or home equity debt if they spend less on gifts this year. Maybe parents will decide that putting away money for college is better than buying their children that Wii set they've been begging for.
Maybe kids will discover that the newest electronic gadget isn't half as much fun as the real thing. Maybe they'll even decide that throwing a real football in the park is better than watching some digitized Tony Romo complete a pass on their game screen. Who knows, a little financial belt-tightening could result in real-life belt-tightening as kids get off the couch and play off those extra pounds they've put on in the digital age.
I know elected officials especially the new Democratic crew about to flood Washington want Americans to get out there and spend. But we may be smarter than our politicians. It is not such a bad thing that everyone is looking to pare back their lifestyles. The path we were on was simply unsustainable in the long run.
Those bigger houses most of us couldn't really afford required more energy to heat and cool, and many of the lots they were built on were farther away from where we worked, requiring longer commutes and more gasoline. We had fewer hours to enjoy our homes because we worked and commuted more hours to pay for them. Worse, we spent less time with our kids and spouses. Do we really want to continue this vicious cycle, buying more but having less time to enjoy what we have?
I don't claim to know what will happen to the economy over the next year and surely the news right now doesn't look promising. But I do think that if we take better control of our own lives and redirect our individual priorities, we'll be better off in the future. Who knows, scaled-back holiday spending could remind us what the season is all about. Giving of ourselves is more important than handing out store-bought goodies. Time spent with loved ones may be the best gift of all.
Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
JWR contributor Linda Chavez is President of the Center for Equal Opportunity. Her latest book is "Betrayal: How Union Bosses Shake Down Their Members and Corrupt American Politics". (Click HERE to purchase. Sales help fund JWR.)
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© 2006, Creators Syndicate
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