Neal Cavuto (Fox News) says that our whole financial crisis boils down to confidence. People don’t have confidence to spend the money they have.

Well, Mr. Cavuto, our problem is we don’t have the money we once had. Our nest egg has shrunk to the size of its yolk. The sales commissions we’re accustomed to have deflated. Our emergency fund has been used to pay off the 70% increase in electric rates. 

True, we won’t be spending the money we have in Christmases past. But it’s not because we’re not confident. No. In fact, we’re very confident we don’t have that money to spend. Too confident, I’m afraid.

Readers: stay tuned for a new series I’m calling Rethinking Christmas. The best series are born out of necessity.