Help fix the economy: go boating and save money

June 12, 10:51 AMSF Boating ExaminerLaird Durham

In a column in the San Francisco Business Times, Nina Gruen, principal sociologist with the economics consultancy Gruen, Gruen + Associates, writes that all of us are to blame for the financial mess we are in, and all of us are going to have to change our “prolific behavior” if we want to get out.

“Easy credit, whether originating from home equity loans or the overuse of multiple credit cards, enabled consumer expenditures to account for almost 70 percent of our nation's GDP in 2005. This percentage was virtually unchanged in 2008. Can we and do we want to maintain this 70 percent? Or should we transfer some of these expenditures to savings that support private, non-residential investment and taxes for badly needed social capital expenditures? “, Ms. Gruen writes.

“For too long, the entire economy has depended upon Americans spending beyond our means, with China's saving economy being the lender of choice. Private investment continued to be relatively anemic, while government investments in our roads, bridges, public transit, clean energy, research and education were too limited to keep us competitive with the rest of the world.”

Ms. Gruen thinks that “the time has come to give serious consideration to reducing personal consumer expenditures by 6 percent, and instead use it to grow the economy in ways that not only benefit all of us today, but our children's generation and our children’s childrens, as well.”

Here’s a chance for boaters to step up to the plate. Instead of taking an expensive vacation or burning up gasoline on an automobile or RV vacation, go boating. Visit some of the great spots in the California Delta, or camp out at the Brannon Island State Recreational area. Even if you don’t own a boat, you can rent kayaks for an inland or sea-going excursion. Add patriotism to the ten top reasons to go boating, and open a boating savings account at your bank.

If you are thinking about buying a second or third automobile, or replacing your present one, buy a boat instead. Although you can spend more for a boat than a car, there are lots of family boats you can buy for half the price of a new car. You’ll have more fun, save money, and be greener at the same time.