Recession Purgatory? Is there a way out?
The folks on Wikipedia define recession as a period of reduced economic activity. They go onto say that an extended period could transform into a depression. Other definitions define the economic condition as a point in time when GDP falls, businesses stop expanding, housing prices drop and unemployment escalates (speculation is that 1 in 10 Americans could be out of work in the very near future). Sound like the sign of the times? Are we all about to face the Grapes of Wrath? Click the link to see a video clip of the original movie.
In spite of all the sour news, I’m keeping a positive attitude. The outcome of the recent presidential election has a lot to do with that. But folks, I’m also a realist.
Lately I’ve been posting on things we can do to cope with turbulent economic times. Things like saving, planning ahead, and investing our time, money and energy on things that are vitally important: think health, education, and our financial future.
Admittedly I know thinking ahead when you’re faced to deal with stark realities of today can seem counter productive. But we really can’t give in. “Yes we can” starts first with “Yes I can”. We all have a responsibility to do our part. As the old saying goes: Let’s get busy.
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Tags: depression, recession, Saving
This entry was posted on Wednesday, November 26, 2008 at 8:28 am and is filed under Financial Education. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
One Response to “Recession Purgatory? Is there a way out?”
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Singapore Recession Says:
November 27th, 2008 at 3:32 am
Well said!
YES I CAN TOO!
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