My wife, to whom I refer as The Lovely Lisa, is on a bit of a purge. She’s throwing stuff away. A lot of stuff. I’m more than a little nervous about my record collection. I should be grateful, I know. Our tiny city home sometimes looks like the season finale of What’s With That House? Two kids under the age of four, a boxer named Jazz and two very tired grown-ups. It can be hard to keep up.

So when The Lovely Lisa started clearing surfaces and emptying cupboards, we got to talking about the stuff we spend our money on. We’re pretty stingy, to be honest. I’ve been known to sweat a $200 purchase for weeks. Lisa feels guilty about window shopping. I’m not making this up.

This week’s TIME magazine features a cover package entitled The New Frugality. You may also have seen references to “greater thrift” and even a “post-consumer era” around. The idea goes something like this: consumers will come out of this downturn in a fundamentally different state of mind. Consumers will not, to put it simply, consume the way they used to. They have been chastened by debt. Their credit card balances have grown too heavy to carry and so for once and for all, they are going to live within their means. They mean it this time.

From The Economist: “The trend towards thrift will not disappear when the economy picks up. For one thing, those banks left standing after the bust will be far more parsimonious with consumer credit. For another, many people will still be intent on rebuilding their nest-eggs, which is reflected in sharply rising rates of saving. Sociologists also detect a distinct change in people’s behaviour. Until the downturn, folk had come to assume that ‘affluence’ was the norm, even if they had to go deeply into debt to pay for gadgets and baubles. Now many people no longer seem consumed by the desire to consume; instead, they are planning to live within their means, and there has been a backlash against bling.”

I’m not buying it.

Most Canadians will continue working through this recession. Even if our national unemployment rate climbs up past 10%, a strong majority of adults across this country will continue to earn a regular paycheque. Some will see their partner or spouse unemployed, but the percentage that will face true financial hardship during this downturn will be a relatively small one. This is not to belittle that pain, please don’t get me wrong. If it happens to you, it’s catastrophic.

But that’s precisely the point. If it doesn’t happen to you, it is an abstract experience and therefore has no meaningful impact on your view of the world. Most Canadians – and Americans for that matter – may ease up on their spending in the short-term. But they will turn back to their beloved Consumer Therapy soon after the recovery is called.

I know I will. You?