Consoling Fallacies

Whenever something horrible happens that is unthinkable or unexpected, people have to bow down under the stress of bad news or learn to cope with it. This is what I saw after Tom Brady got his season-ending injury in the first few minutes of the new season. Gregg pointed out how the Patriots’ fans and commentators were coping with the news. “Games will be much more interesting now that Matt Cassel is quarterback instead of Brady (winning apparently did not make games interesting).” “This is the time for Belichick to show his real caliber (as if this current record is not enough).” And on and so on and so on.

Similarly, I have been trying to see the bright side of this economic downturn that we are in. While my consoling thoughts may not be very sensible, they do work nonetheless. Reading about how peoples’ investments and retirement accounts may be in trouble, I found myself selfishly thinking: thank goodness we do not have any of that stuff. Reading about how people are worried about the costs of their homes, I thought: well, that is one thing Gregg and I do not have to worry about.

How monumentally stupid of me!!! This is what my thoughts translate to: thank goodness that we have no money. Thank goodness for the years in graduate school during which we did not live an adult financial life. This silliness is on par with the conversations about how Brady’s injuries benefit the team. Good things are good things even if they bring some inconveniences and worries with them.

Having said that, the one thing which this economic downturn has taught us all is how to save. Instead of depending on credit or spending down savings, most people are cutting down their budgets, using coupons and doing everything to pinch pennies. This is hopefully a long-term change – and if it is – it will be a positive change for us all. I have certainly been more budget conscious and I hope to be this way for many years to come!!! Is this just a consoling fallacy too?