Are we getting ready to face another recession or depression?
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Stocks are plummeting
People are losing their homes-there are actually more homes in foreclosure than in a regular sale
People r losing their jobs. Companies aren't just moving; they r closing
Bridges, levees & roadways r collapsing
Cities r filing for bankruptcy
People classified as middle class can't afford to purchase a new car & probably wouldn't qualify for a loan anyway
The price of everything is going UP...If you r making min wage, In 1 hour on the job (don't forget to take out taxes)...you can almost afford to purchase 1 gal of organic milk OR 1.5 gal's of gas (but probably not enough to get to & return from work) OR you might be able to pay for 1 of your childs school lunches OR you could rent 1 video. If you make min. wage, you will have to work 1 full day to pay a $45 utility bill Or purchase 1 pkg of diapers & 1 can of formula
If u work min. wage, you likely dont have medical insurance, nor can u afford to purchase it on your own
What will tomorrow bring?
Are we getting ready to face another recession or depression?If you look at the economic data that has come out in the last month, we seem to already be in a recession. I doubt that you will ever see a depression like we had in the 1930s because the U.S. economy is much stronger now, most of the economy is global and reforms have been put into place that have alleviated much of the speculative abuse that led to the panic and the depression.
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