An Upside to the Recession?

This week I read the first truly positive column I’ve ever seen about the current recession. And I don’t mean positive in a cautiously-optimistic ‘this might end soon if we’re really, really lucky” way; I mean, it was actually freakin’ positive in a “this is great!” sort of way. Weirdly enough, the column was by a deputy editor at Forbes. And here I was, thinking that anyone who worked at Forbes was too busy crying in their coffee that business people could no longer splurge on their over-priced financial magazine to find an upside to the recession.

The columnist in question, Elisabeth Eaves, actually managed to put a silver lining on the worst economic crisis since the 1930’s by describing it as an opportunity to buy things for cheaper, from salespeople who are nicer. Eaves writes about the “flip side” of a bad market, such as cheaper rent, better rates from banks and being able to get out of expensive personal obligations that you never wanted to fulfill, such as going to a friend’s destination wedding. Eaves herself managed to refinance her mortgage at a much better rate. Eaves writes, “There’s a global sale on, so if your own income hasn't plummeted, the getting is good”. She’s right; practically every store at West Edmonton Mall is advertising major sales in an attempt to move merchandise and retain customers. Now is the time to shop, assuming you still have a job.

The majority of people don’t agree there is a silver lining to the recession. Other financial writers are now sinking their sharpened claws into Eaves for being out of touch with what’s really happening to “real” people during the recession. On MSN’s money blog, Kim Peterson writes in response to Eaves’ column, “The only explanation I can think of here is that Eaves is in a different recession, where it rains cupcakes and kittens and where champagne glasses are never half-empty. I'd be celebrating as well in that case.” Side note: raining kittens? Ouch. Raining cupcakes? Delicious. And Peterson is being easy on Eaves compared to many of the reader’s comments on Forbes. Very few people seem to appreciate Eaves’ sunny disposition when it comes to money, or lack thereof.

Eaves does acknowledge that many people are suffering from the recession, particularly those who have lost their jobs. Admitting that people are suffering from the harsh consequences of the recession saves Eaves from entering into totally obnoxious territory. She tries to paint a rosy picture by telling readers that being laid off is an opportunity to ask yourself if you really liked your job that much in the first place or to discover what you really want to be “when you grow up.” Sure, people who have recently been laid off because of the global financial meltdown are probably burning effigies of Eaves right now and I really can’t blame them. It’s hard to say that everything will one day be fine and it’s even harder to believe it sometimes. Tell that to the family who just lost their home or the recent university graduate who can’t get a job at Wal-Mart, you say. And I understand. Usually, when someone tells me the sun will come out tomorrow, I tell them where they can shove that sun. But does cursing a bad economy help you find a new job? Does complaining fill your life with joy? Or does being a downer simply bring you down? Being negative never got anyone anywhere and I say it’s time we all stopped, including me.

Eaves might come off as a blonde twit on uppers for saying there is an upside to the recession but at least she is being positive. Yes, it is easier for her to be more upbeat than someone who has lost their job or house since she still has both of those. But Eaves has a point: finding the bright side of a bad situation sure doesn’t hurt you; in fact, it can only help. Sometimes, when you lose everything, you realize how much you still have left.

After months of hearing about the doom and gloom of the global economy, it was nice to hear from someone who was trying to see the positives of a recession. Maybe we should all slip on some rose-coloured glasses for now, if only to give ourselves a break from all the doom and gloom.