It might get worse, too.
Economy has worst growth since 2002 - Yahoo! News
Now add in the real estate market crash that's going on. Then throw in outrageous gas prices.
When I compare prices at the super market to what they were a year ago, it's clear that inflation is here. Even at Wal-Mart, the prices have gone up 10%-15% compared to late last year's prices. Trouble is brewing:
This feels a lot like the 1970s. My dad was out of a job for over a year. Gas was expensive, and so were a lot of other things. And the country was at war, or ending involvment in the war. Hm.
I think this sag in the economy will go on for the next five to ten years, regardless of what the stock market does. A crash in stock value wouldn't surprise me, but then again, it is its own entity. What stocks do are not necessarily an indication of the economy as a whole.
My personal indication things are not good are prices. WOW it costs a whole lot more to buy groceries than it did two years ago. WOW it costs a whole lot more to drive around. WOW this sucks.
Every report you see from the Fed will say "excluding food and gas." Well guess what Fed Reserve? I'm not that stupid. EVERYONE buys food and gas. Without those things you can't live or drive to work to make money to buy those things to live, and on and on. And if prices are high for the basics, there is less money floating around to buy other stuff, like new lawn chairs, a new TV, or a hot tub, beer, or whatever. NO ONE IS BUYING NEW STUFF. They can't afford it.
If gas prices remain high, the price of everything else will remain high. And I dare say Americans have suffered plenty already. I can't imagine that it might get worse, but it might.
Now add in the real estate market crash that's going on. Then throw in outrageous gas prices.
When I compare prices at the super market to what they were a year ago, it's clear that inflation is here. Even at Wal-Mart, the prices have gone up 10%-15% compared to late last year's prices. Trouble is brewing:
Federal Reserve Chairman Ben Bernanke doesn't believe the economy will slide into recession this year, nor do Bush administration officials. But ex Fed chief
Alan Greenspan has put the odds at one in three.
This feels a lot like the 1970s. My dad was out of a job for over a year. Gas was expensive, and so were a lot of other things. And the country was at war, or ending involvment in the war. Hm.
I think this sag in the economy will go on for the next five to ten years, regardless of what the stock market does. A crash in stock value wouldn't surprise me, but then again, it is its own entity. What stocks do are not necessarily an indication of the economy as a whole.
My personal indication things are not good are prices. WOW it costs a whole lot more to buy groceries than it did two years ago. WOW it costs a whole lot more to drive around. WOW this sucks.
Every report you see from the Fed will say "excluding food and gas." Well guess what Fed Reserve? I'm not that stupid. EVERYONE buys food and gas. Without those things you can't live or drive to work to make money to buy those things to live, and on and on. And if prices are high for the basics, there is less money floating around to buy other stuff, like new lawn chairs, a new TV, or a hot tub, beer, or whatever. NO ONE IS BUYING NEW STUFF. They can't afford it.
If gas prices remain high, the price of everything else will remain high. And I dare say Americans have suffered plenty already. I can't imagine that it might get worse, but it might.
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