Giving Thanks In Bad Economic Times

There are always going to be people that find it hard to ever be thankful. No matter how good things are going, they still find something to complain about. However, there are also people that seem to find a silver lining regardless of how bleak the circumstances may be.

On the surface it would seem like there would be little to be thankful for in 2008. The stock market has crashed 45%, the housing market continues to sink, unemployment is rising, and a combination of fear and panic seems to have settled over Wall Street. However, we at eChristianInvesting believe there is still a lot to be thankful for even in this dour economy.

Low Gas Prices

The drop in global demand has caused oil prices to fall from $150 per barrel to under $50 per barrel. This has allowed gas to fall from $4 per gallon, to less than $2. Just a few months ago, many pundits were saying we would never see $2 gas again. Now it seems that even $1 gas isn’t out of the realm of possibility. So driving to see the family this holiday season just got a little cheaper.

Consumer Deals

While retail sales will certainly take a hit this year, bargains abound for shoppers looking for great holiday deals. Flat-screen TV’s, blu-ray players, cars, and a multitude of other items can be found for never before seen prices. For those who haven’t already over-leveraged themselves, this is a great time to “catch up” with the Jones’s at a much lower price than what your neighbors paid.

Investment Deals

It’s not just electronic gadgets that are cheap, Wall Street is offering investors some very sweet deals this Christmas season. Even blue-chip stocks like Merck, Home Depot and Microsoft are trading at prices levels not seen in years. Investors who are brave enough to be buying in this market will likely be handsomely rewarded in a few years.

6.5% Unemployment Rate

While being thankful for the highest unemployment rate in 14 years seems odd…it could be much worse. Those of us that still have jobs can be thankful and even those that have lost jobs this year can be thankful that there are still jobs available. A recent search on SimplyHired.com showed over 3.6 million current job openings. Unemployment may be bad, but it’s not the 25% unemployment rate of the 1930’s when there where no jobs available period.

Lack of Terrorism

While the papers have had plenty of bad news to print this year, we can be thankful that the headlines have not announced another terrorist attack. The financial markets have been volatile enough over the past few months, a major terrorist attack would just further pummel the stock markets and paralyze the financial system.

Learning Experiences

Someone once said, ‘Those who fail to learn from their mistakes are destined to repeat them’. The last decade should have been a tremendous learning experience for our current generation. Excessive greed, buying what we couldn’t afford, and living without regard for tomorrow led us into this mess. Hopefully, we have now learned from those mistakes and are prepared to avoid them tomorrow.

American Optimism

Our nation as a whole is a nation of optimists. As such, we always expect things to get better. It may not happen next year or the next, but we still have confidence that it will happen. That confidence is what will see us through the dark months ahead and back into a brighter and more prosperous economy.