When a few folks pull back their spending to reasonable levels, the economy can absorb it. But when everybody stops spending at once, the recession set in. When gas prices hit $4 a gallon AND the stock market swooned from 14000 to 8500, there was simply no money TO spend. Disposable income disappeared, and wealth, as in retirement savings, disappeared too.
So we're going through a major market adjustment. Turning off the TV won't stop it, it won't fix it, and it won't make everything better anytime soon. To tell everyone to go back to spending reasonably, when so many are already either out of a job or are on shaky footing in their current position....well, it's not gonna happen, because the money's simply not there. You can't refinance your mortgage, even if it's just to stretch the terms and lower the payments, if you're out of work.
Lots of folks may have seen this coming; I did, and I'm not particularly perceptive. But lots of folks, including me, made their plans and preparations for this based on the assumption that they'd still have their job...which many of us now don't have.
So whether you watch TV or not, it's going to get a lot worse before it gets better.
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Today's Featured Article - Buying your first tractor: Choosing the right one - by Chris Pratt. They cost less than the tax on a new tractor (at least where we live). They have the weight to do the job. They are simple and understandable. They even have a history and can be restored to become a major source of pride and enjoyment. But how do you know what to buy and how do you make the right purchase? There is a surprising number of machines available in every shape and size imaginable. Like most things in life, your needs have a lot to do with wh
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