Global recession, meltdown, credit crunch, contraction, or economic crisis, it all means that sooner or later, every person will be some how impacted. So far, at least here in Canada, most of us have only been noticing a decrease in the value of our investments, if they are market related. We have also noticed that the value of our homes has decreased. But few of us, at least in the west, have been impacted in terms of employment or job loss.
We had our first little taste as a contract job has been put on hold due to financial pressure on the part of the client. There will be more of this, I am sure. The attitude of fear and uncertainty is very catchy, somewhat like the flu. While we cannot and should not bury our heads in the sand, it does nobody any good for the economy to grind to a total halt when there is no need for it. Those without debt and a reliable income should keep on spending. Too bad there are so few of those kinds of folks around.
1 comment:
Thank you for the comment. I am normally optimistic by nature. I'm not so much worried about my future, but about my loved ones and good friends. Many of them have already lost their jobs and thier homes. I wholeheartedly agree that we should live simpler lives. After all, I believe that those who have been living above their means are the ones who will take the hardest falls during the recession.
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