Recession...
June 09, 2008 12:50 a.m.
I just had a whole lengthy blog typed out and of course Myspace had an error occur and I lost everything I typed out, so this time I'm going to be quick and speak my mind (in a nutshell)..
Is the country in a recession? In my opinion, Yes!
I am sure we are all sick of hearing about the possibilities of a recession or of the cost of oil which is directly related to it, but I'd say the US is in a recession, or at least the beginning stages of one. People have had to completely alter their lifestyles and the purchase of luxuries, because they cannot afford to have them. People will stick onto old cars longer, because new ones are expensive and their old ones still work, or if they do decide to get a new car they will buy ones that have better fuel efficiency (more MPG) or even hybrids.
I make a decent amount of money, but I am still having trouble keeping my bills paid and my mortgage from being late! I cannot even imagine how lower class or minimum wage people getting by. Seems to me that if one person is getting poorer, someone else must be getting richer.
I do not think that this is restricted to only the U.S. with the rising cost of crude oil; I think everyone will be affected, and unfortunately it doesn't seem to be looking any better.
Using a strict economic definition, the US is not in a recession. But my commonsense says that the US is in the beginning of a recession regardless of what the numbers say.