Easy money and dropping interest rates for the past 40 years has slowly reduced the social sense of gratefulness. We expect the basic needs of food and shelter to be there. In general we all have lost our spirit of Thanksgiving.
Thanksgiving is an American holiday. In my youth, it was a BIG deal. Families would gather and feast. In my lifetime it has been degraded to an annual time of football games. Pizzas have replaced Turkey, stuffing, and pumpkin pie.
I expect there are a still the group of elderly folk who will remember the fading traditional spirit. The youngsters however will not notice. Expectations of abundance has become normal.
Easy money is to blame.
Talk of an economic ‘reset’ is becoming popular. Pain will be a part of this process. People will eventually remember these times as the ‘good old days’. The higher costs of money known in the 1970’s slowed things down.
Thanksgiving traditions have also shifted to the beginning of the shopping season for Christmas gifts. People expect to have endless credit to fund their giving. Credit may tighten quickly.
The fear of higher bills in January will slow purchases in November. Past generations would save all year in special bank accounts to fund their holiday spending.
Changes to monetary policies will shift our gratitude index. It not be pleasant.
Here is today’s beauty.