Happy Holidays to You

Dr. Errington Thompson

Now that we’re really into the Christmas season, I’m staring at a blank piece of paper again (computer screen). I have a few random thoughts to share for the holidays. I’m sure that a psychiatrist could stitch them together and figure out what is wrong with me but I’m not sure that I want to go there.

First, I would like to take you to a magical world. I would like to take you to a world where if you work 40 hours a week, you can pay for a decent house. You can have a car in your garage that is paid off. You can have a television, refrigerator, and other common amenities in your house. Once you have finished paying off your monthly bills, you actually have money left over for savings. You are not drowning in debt. You expect to pay off your house within the next couple of years. This is the magical world that existed in the 1950s and 1960s in the United States. Of course, this world would not include minorities and women, but otherwise equality reigns throughout the land.

For me, the Christmas season doesn’t start until I hear Nat King Cole. I’ve heard lots of people try to roast those chestnuts on an open fire, but nobody can do it like Nat. Also, I have to hear “Winter Wonderland” by Andy Williams.

In 1969, the largest manufacturer in the country was General Motors.
The average paycheck for production workers was approximately $8,000
per year. The CEO of GM made $795,000 per year back in those ancient
times. Now, if we adjust for inflation, $8,000 is roughly equivalent to
$44,000 in 2007 dollars. Surprised? $795,000 correlates to $4.4 million
in 2007 dollars.

When you think about the gap between rich and poor remember that the
CEO of Wal-Mart is making five times more, adjusted for inflation, than
the CEO of GM back in the ’60s. Hedge-fund managers can make hundreds
of millions of dollars a year; a few are making over $1 billion a year.
(I wonder if they give their loved ones gold bricks for Christmas
stocking stuffers.)

The Christmas season is about giving. What happens on the day after
Thanksgiving seems to be how Americans display this giving spirit. I
was on call (for trauma) on Thanksgiving. I had put out as many fires
as I could and admitted everyone who needed to be admitted. At about
four o’clock in the morning, as I drove home, I went past Toys “R” Us:
the parking lot was full. At four o’clock in the morning! Across the
street McDonald’s was doing a brisk business. The scene was surreal. I
was reminded that Americans owe $2.58 trillion in credit card debt.

Speaking of incredible debt, Nicolas Cage’s ex wife is suing him for
$13 million. He just lost two of his 15 houses to foreclosure. He is
suing his longtime financial manager for malfeasance. This same money
manager is suing him for not taking his advice and spending like he was
the great Gatsby. So, do you think Tiger Woods (who is in deep water)
feels better when he looks at Nicolas Cage?

This Christmas season is going to be hard for millions of Americans.
The unemployment figures for November reveal an unemployment rate of 10
percent. Over 8 million Americans have lost their jobs since this
recession started in December of 2007. The unemployment rate for black
workers is 15.6 percent, the rate for Hispanic workers hovering just
under 13 percent. The unemployment rate for workers between the ages of
16-24 is a mind-boggling 19.1 percent.

All these numbers bouncing around my head cause me to want to ball up
in the fetal position. The Christmas season is not about giving up.
It’s not about hating the CEOs of hedge fund companies. Instead, it is
supposed to be about community. It is supposed to be about loving your
fellow man and helping others.

I cannot single-handedly fix the inequities in our economic system, but
I can give money to churches and charities that will help feed those
that are hungry and clothe those who need clothes this year. I’m going
to try to do my part. If you do your part and your neighbor does their
part – we’ll be just fine.

Merry Christmas and Happy Hanukkah