epoch

what kind of person are you? as unemployment skyrockets, banks collapse, major industrial giants falter, credit tightens, bailouts are administered without oversight, and every manner of chicken little proclamation can be heard, are you the type of person who just keeps going about daily life as usual or are you the type of person who is seriously concerned and taking personal action you consider appropriate?

i ask because i want to know if you believe things are really all that bad, worse than anything you have seen in your lifetime if you are under say, 70-years-old, anyways.

on one hand we have seen banks collapse before. we have endured higher unemployment. we have bailed out major companies previously. when our economy goes into recession, the world has always followed suit.

on the other hand, our current circumstances look like the perfect storm. it seems as though there is much evidence to suggest things will get substantially worse:

• many businesses which expect to make their profits in the christmas season while only managing to sustain the business during the rest of the year are expected to fail in early 2009 because of the thrifty nature this christmas is expected to be.


• a european newsletter has predicted the collapse of the dollar in summer of '09, which would mean a re-valuing of the dollar or replacing it altogether.


• as businesses fail, employment will continue to rise.


• as our federal government issues bailout after bailout and extends unemployment benefits with those claims rising, all while trying to make payments to china and others on our record, bush-induced, deficit, there has been some speculation we could default on our loans.


• the stock market continues its decline which is severely affecting retirement savings.

driving around town today i thought everything looked normal. traffic seemed normal. the behaviors of the people i saw seemed typical. i could not help but wonder if many people yet to feel the realities of the financial crisis are just going on with life like ostriches. as much as some would suggest that people need to "shop," or spend, thereby showing some confidence in our economy, in order to help loosen credit, restore confidence and get money moving again, that idea is completely wrong-headed. rather, now is the time to save, reduce, re-use, minimize your consumer footprint, in order to be ready for whatever the future holds.

your perspective on all of this could be crucial to you and your family.