Are we headed for a depression which could last for years or is this just an economic recession which would be normal in business and usually lasts a few months? I try to understand these things, but they aren’t always clear for me. Are we headed for a collapse? Depending on who you read and the sources it’s enough to make people panic.
They tell us this is a good time to buy a home ( a buyers market ), but it certainly isn’t a good time to sell. People are losing their jobs and if you read the paper you will see lists and lists of foreclosures and sheriff sales. When we are out riding I see so many businesses that have closed and it’s scary.
Where do all of these ex employees go for jobs, how do they live when they can’t afford to pay mortgages and buy food? Unemployment only lasts for so long. Many Americans are being forced to live in their cars or at the mercy of family members, soup kitchens are being bombarded by hungry people.
I have seen enough homeless people regardless of the economic times, but lately it appears to have doubled and even tripled in some areas. I have my doubts about both parties, Democrats and Republicans on whether either side can help our failing economy or how long their plans might take, but each individual must make a choice soon and I hope we choose correctly.
People that have been investing for years for their retirement in “safe” companies are starting to see their retirement funds go down the drain. This just goes to show that nothing in life is a sure bet. For years they have been saying that the social security system may be going down the toilet also and it may not be there when it’s your time to retire, what happens then?
Now is not the time to spend frivolously, most people are finding ways to stretch the dollar which isn’t worth much now. I really feel bad for families because I know how hard it is to make ends meet. I know one lady that maxed out her credit cards to pay for her children’s tuition at college and they even own a business that I worked at some years ago.
At least she used her credit for an education so her children could earn a living, but most people know they will eventually have to pay these credit cards off, but they don’t even think about what it’s going to cost them in the long run they simply think about the here and now and their spending power, we live in a world of instant gratification, we want it now.
I confess I am worried about the world that my Grandchildren are facing and that’s where I shall leave this post.
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