Why I am Hopeful

The economic crisis won't be easy for us—and that's good.

Has the economy got you worried? When pundits are throwing around statements like, "The worst market since the Great Depression," it's natural to get concerned. But Andy Crouch has a different take. He's written a really insightful article for our friends at Books and Culture titled "Why I am Hopeful." Here's an excerpt:

I am not hopeful because I envision an easy way out of the current economic mess. We are entering into the Great Deleveraging, where an entire country of consumers will have to pare back their reliance on cheap mortgages and abundant credit cards. (Remember when your mailbox was stuffed with credit card offers? Seen any lately?) The national savings rate might even rise above 0% - yes, that is zero percent, the proportion Americans have been collectively saving for several years now. But that means that consumption, a major engine of our economy, will have to decline dramatically.