A redefinition of normal

Normal is a relative thing, and every time now and again we have to redefine that which is relative to us. Over the years this has been an unchanging trend and it is no different today. As the global economy slowly recovers and gets back on track at a snails pace, the world is slowly coming to grips with the fact that there is a whole new reality out there that has created a whole lot of ‘normal’ we might not have known previously. Adapting to this new level normal is the new normal, to use a cliché. It’s not just in an economic sense either; it could be at a personal level or a nationwide level. Think of how 9-11 changed the fabric of American society and its collective conscious. Now that’s a redefinition of normal.

Habits once ingrained are very, very hard to break admittedly but it must be done even if it is not easy to do. Here then, are five ways of life that will become normal in time to come.

Unemployment is here to stay

With unemployment rates soaring all over the world and even touching double figures in some nations, it’s a no-brainer to say that working towards cutting out these unemployment figures could be nigh on impossible. As the economy has contracted so too has the hiring scene and industries that were once awash with jobs are now finding hiring to be scarce. For some, their day entails searching for a job. Chew on that.

Renting is the new norm

At one time, buying a new home was the in thing to do and everyone wanted to grab a slice of real estate before the bubble burst and everyone realizing putting down a giant wad of cash to buy a home might not be such a great idea. The days of buying a home as an investment may well and truly be gone as real estate prices tumble even in the face of a stabilizing economy. Why take on a painfully hefty mortgage when you can do just as well to rent a house?

Saving is now cool

This doesn’t sound so bad, now does it? At one time, people were spending money left, right and centre and not thinking about tomorrow. Those days are numbered now and people are holding on to their purse strings rather tightly which is in its own way excellent. Overspending or spending money that never existed is what kicked off this whole mess in the first place. Pile up your savings and save the day seems to be the new mantra for everyone and fiscal responsibility is the new buzzword among people.

Take from the rich

It all boils down to what sort of statutes and laws get passed, but the clamor among experts and economists is growing to increase the taxation of the wealthiest strata of society. Some argue that this would be more hurtful than beneficial, but when 10% of the population is making as much if not more than 90% of the population, it is hard not to put forward a case to increase the intake of funds from them. Think of it less as taxation and more of an effort to balance tax structures and budget deficits and it might just begin to make a lot of sense.