Economists call it a slow motion recession, characterized by tight credit, and scant job opportunities. Not only this they are predicting job loss into 2009. They have even coined a new phrase for it......."slow motion recession ".
Home prices continue to plummet which in turn has eliminated jobs of hundreds of thousands of people. No industry is immune from bankers, real estate executives and construction workers. Throw in rising gas prices and the foreclosure crises we already have a baked disaster and not the recipe.
Automakers say prices have dropped 28% for Ford, 21% for Toyota, 18% for General Motors. The rising Gas prices is the culprit; sending consumers to their repective corners to think about ways to make it through this crises.
Newfangled inventions motorized inventions have suddenly appeared in an effort to attack and disarm the Gas crises impact. One thing that is increasingly apparent;our gas guzzling days of leisure are over.
Some employers are even considering a four day work week. Some has actually adopted it such as the City of Birmingham, Alabama. As decreed by their mayor.
This will be a long term recession one that will not end soon. How we got to this point; it anyones guess. But we're here and we need to find away to muddle through the process.
Archives 
July 9th, 2008 
Write a comment