If you didn’t know already we are experiencing one of the most dreadful economic situations that I have seen in my lifetime (29 years as of yesterday). Everyone is experiencing some sort of pain and it is leading to things like people cashing out their airline miles, AMEX offering $500 gift cards for cardholders to close their accounts and normal everyday cut backs on expenses. Here is a great article from MSNBC regarding a concept of Insourcing - basically Do It Youself (DIY). People are now doing the things that would have otherwise paid someone else to do. This include home projects, landscaping, car washes, sewing, dining, spa services and even pet care. Let’s take a look at a few of the stats from the article:
- Starter sewing kit sales has risen 30% at Wal-Mart (I sewed a button on my pants myself this morning)
- The landscaping industry has experienced a 7% drop in revenue
- Pet services is expected to grow 6% rather than the 40% from the year before
All of this news hurts just like a paper cut – stings to high heaven and you can never get it to stop bleeding. However, I recently watched Idiocracy, a movie in which the future that is depicted is scary. People have become such idiots that you can even get a law degree at Costco and the smart people are outcasts. The main character was once considered an idiot in our time but in the future he is considered to be a genius. Perhaps these economic times will challenge citizens to work a little harder, not rest on their laurels and take back a society that has developed only because of our hard work and determination. Things cannot be taken for granted anymore and I only hope that if and when we come out of this – we realize this and regain our dominance.