It's The Economy Stupid

I am paying attention to the financial news more so now than at any other time in my life. No, I don't have huge amounts of money invested in the stock market or anything like that. I am just deeply concerned about our economy and it's impact on my family. Many of the economic "experts" are still insisting that things are not as bad as they seem and that the Country is not in a recession. Common sense tells me a different story. In my three decades, I can not remember a darker economic period. Some say our last recession was at the turn of this century, but in my memory, it was nothing as bad as the shape we are in right now. To find an accurate historical comparison, I believe that you would have to look to the late 1970's. I was too young to pay any bills at that time. So not only is it disturbing that there are the worst economic times in 30 years, it is also scary that it's getting worse. Oil hit a new record high today at nearly $139 per barrel. That as our Nation's unemployment rate soared to 5.5 percent, in the biggest one month jump in decades. Add on the housing and mortgage crisis, and you have a bleak economic picture. All of this is like the perfect economic storm because of it's timing. Until a new President is inaugurated and a new Congress is seated, Washington will not make any moves for fear of the political fallout. TV star Ed McMahon and former Heavyweight Champ Evander Hollyfield have recently gone into foreclosure. Things are getting pretty bad when wealthy Americans are feeling the pinch.

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