The Adjunct






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February 17, 2009

Economic Dissonance

Filed under: Blathering Blatherskite — Professor STAFF @ 2:19 pm
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Two of the headlines on CNN today demonstrated the great economic dissonance that is more and more prevalent in our country.

The first headline:

Top Republican unloads his mansions

Then, directly below it:

“Make every penny count, and count every penny.”

Compare the two articles, each dealing with the same economy. From the first article:

(CNN) — He has been estimated to be worth in excess of $250 million, but former Republican presidential candidate Mitt Romney may just be belt-tightening along with the majority of Americans.

Romney, the former business whiz and governor of Massachusetts, is looking to unload two of his four mansions, collectively valued in the currently-sour real estate market at close to $10 million.

Compare to this excerpt from the second:

(CNN) —Orman: If you don’t have a good savings rate and something happens, where are you going to go?

That’s when you all of a sudden start putting things on your credit cards — that you can’t do anymore.

That’s when you then start to become an aid, you know, where you’re asking the state to aid you — food stamps and everything.

What should strike you about this is the great disconnect between the two. This is not meant as any form of attack on Romney, nor Republicans. Democrats in Washington are millionaires as well, and even if President Obama only owns one home, his bank account is quite full, just like nearly all our leaders.

No, this isn’t about politics, but it is about a tension or clash resulting from the combination of two disharmonious or unsuitable elements: the rich getting richer and the poor getting poorer.

As Orman tells people to pinch every penny, Romney unloaded a few of his spare mansions. As one talks about people going on food stamps, the other pulls in 20 million in spare change.

How can one world possibly understand the other?

Yet it is those penny-people who decide which multi-millionaire shall lead them, in both business and politics. And those chosen multi-millionaires shall try and see what they can do to make things right for the penny-people. It reminds me of one of those conversations where both people are talking to each other about completely different things, yet neither notices.

Fellow adjunct instructor and all around woman of letters Stephanie Han has written about her reaction after reading Naomi Wolf‘s book, Misconceptions:

While she made a few good points, overall, she sounded so out of touch with the average working woman I wanted to throw the book out the window when I read it. The woe-is-me-and-my-group-of-friends-we-all-own-expensive-homes-and-are-lonely was insulting. Hers was not a perfect world but she didn’t seem to get that she had a much better situation than the burger slinging working person.

At the end of Orman’s interview, Larry King helped demonstrate the point I am trying to make by chipping in with his own ideas on what these penny people can do to stay afloat in these tough times.

King: Go cheap. Tip 15 percent, that’s it. Shop — bargain everything. … If tomatoes are 20 cents over there and 15 cents across the street, buy for 15 cents.

That’s right, the problem the penny people are having is that they must be tipping too high! Please, cut off those tips at 15% for your own good. Buy 15 cent tomatoes, because you’re gonna need every nickel.

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