Once in a while a cartoon comes along which really drives home a point. Despite political pundits waving their arms and claiming that we are not technically in a recession, the circumstances facing American families are so dire these proclamations are nearly meaningless.
The credit crunch, housing market, gas prices, job losses, and rising food costs have left consumers in a tough position. Families are having to cut back many activities and purchases simply to cover necessities - this is not good news for the two-thirds of the economy dependent on consumer spending.
Well for the good news - At least we are not technically in a recession!
Tuesday, July 15, 2008
Crushing the American Family
Posted by GregB at 7/15/2008
Labels: consumers, credit crunch, downside risk, personal finance, U.S. economy
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