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What's going on?

What happened to the good ol' days of 2007?

Gone are the days that you could buy cars and houses with the lowest interest rates. (In a nutshell, that means that you could buy those things for a much lower price.) Q4 2008 and so far Q1 2009 is turning out to be a disaster.

People aren't spending money. Companies aren't getting profits so they have no choice but to fire workers. In the chart of economic progress, we are at "Recession" status, and we are hoping against hope that the market doesn't crash and we don't have Great Depression II: The Sequel.

The Ripple Effect is affecting other countries too. Our imports and exports are going down because of our low economic status. Great Britain just went into a recession.

When'll it be over?

We don't know. Simple as that. The last time we had a depression, the Great Depression, it lasted from 1929-1953. It took a World War to pull us out of our depression. We all hope that it won't take another.

Hopefully, this recession won't last from 2008-2032. It shouldn't, since we are already seeing signs of recovery, such as less property forclosures, and stock values steadily growing.

What can we do to survive?

 

What you can do to survive is really in your hands. People these days are afraid to spend money in this economy. That decision could go either way. You could save up money for when you need it the most, such as when a depression or other similar emergency occurs, or you could put your faith in the fact that the economy could slowly pull up, and still keep spending money.

Here is a chart of stock prices/values for the three major stock symbols in the USA. They are all from February 2006-2009. The higher the better!

  2006 2007 2008 2009

Closing Price DOW Jones Industrial Value

 10,892.32 12,654.85 12,552.24 7,932.76
Closing Price NASDAQ Value 2,239.81 2,459.88 2,373.93 1,541.71
Closing Price S&P 500 Value 1,262.86 1,444.26 1367.21 835.19

As you can see, stock values were OK in 2006, and were absolutely wonderful in 2007. They started going down in 2008 and took an absolute plummet in 2009. We'll just have to see what happens in the near future. Here's a humorous video on the current crisis (click to view):

Watch Jon Stewart Interview Senior Economist John Oliver on the Eco Crisis

This video is humorous and informative at the same time!

Here are some helpful websites I visited when making this page:

 

 

Don't let your money go down the drain!

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