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DEAN'S LIST - 6/8/2008
(by Dean Naddeo - OpEd Columnist - June 08, 2008)
A different economic picture
Sure, the specter of a young man riding a horse down Ringwood Ave. last week paints a very bleak picture of New Jersey’s economic status. One would speculate that the towering gas prices have simply priced him out of the market, and that he has thus been forced to jettison his usual transportation in order to utilize another mode of travel.
As evidence, a quick survey of the gas stations located on the Rt. 23 corridor reveals that drivers are paying about $3.87 a gallon for regular, which translates to roughly $85 to fill up your average 22-gallon mid-sized SUV. That’s simply too much for most of us to handle, considering that the average local resident travels about 30 minutes to work each day, and more than 75 percent of local residents commute to work alone.
Yet, this horseman was also observed to be happily chatting on a cell phone as he passed through Haskell, suggesting a much more optimistic view of the local economic situation – one that reveals that despite higher fuel and food costs, many of us are still able to continue enjoying the spoils of life that we have increasingly grown accustomed to.
Those who have the audacity to throw around the word “Depression” need to take a hard look at the reality that surrounds us: Despite all the doomsday claims, nearly every kid these days is sporting an expensive Smartphone, iPod or laptop com-puter. And most households employ an X-box or Nintendo Wii game console, with a collection of $40 video games to complement it. Satellite car radios, movies-on-demand, 50-inch High-Definition television sets, high-speed internet access and personal GPS systems hardly speak to an economic slowdown, never mind the dreaded “D” word.
Ironically, while many New Jersey residents ardently complain about the rising cost of living, most continue to patronize decadent places like nail salons, shopping malls and day spas. It’s inconceivable that the same person who incessantly whines about fuel costs may also be spending $30 on a weekly pedicure, enjoying a $75 facial or running up hundreds of dollars a month in cell phone bills. The hypocrisy is so thick you may just need to wash it down with a mocha caramel latte or some other $4 cup of coffee.
According to many leading consumer advocacy groups, including “Consumer Reports,” one of the best ways to save money and cut down on spending is to simply eat at home. Despite this sound and easy advice, people continue to fill the tables at moderate and high-end restaurants across the region, even on weeknights.
So realistically, when we take an honest look at the state of the local economy, things may not be as dire as some would lead us to believe. In fact, the horseman of Ringwood Ave. may have already concluded what many of us also need to understand: The first step to surviving the economic slowdown should be to forfeit some of the luxuries that we have all come to love, but can certainly exist without.
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