Commentary
The debate about whether we are in a recession—it dominated the news over the weekend—has become a war of words with high political significance but low real-world meaning for the average person.
The real story is about what people are doing to survive the times. They are bailing on high-end groceries and raiding the discount shops. They are curtailing travel plans, running up credit-card debt, and searching for cost savings wherever they can. They are buying in bulk for fear of shortages and stuffing the excess wherever it fits. And those who choose to work are clinging to the jobs they have for fear of the future, even as large corporations are culling administrative staff just to survive….