am I the only one with 'gloom & doom' thoughts?
Man, I am really concerned about what lies ahead with the economy. I have been thinking for a while - probably since early this year - that we are heading for some kind of major depression like "correction". Not sure why since I'm no economics wizard - just didn't seem like the spending and economic growth could not continue - along with the excessive credit card debt and foolish mortgage situations I read about people getting into.
Now I have multiple friends who have been laid off in all kinds of industries and I am really concerned that they are in for very tough times ahead. Maybe I'm reading too much but everything I'm reading about business, manufacturing, global economy, etc. makes me think we are in for an extended period of tough times ahead.
Then I watched the movie Kitt Kitredge on a plane and that whole depression era lifetyle is stuck in my mind. I think people have taken for granted that somehow we were "protected" from having this happen again and now a new set of circumstances have allowed another severe recession/depression to occur.
DH and I both have good jobs for now and I feel very fortunate for that but I am in serious hunker down mode. And I'm really concerned for friends who have lost their jobs. DH has experienced layoffs in better times than these and it has sometimes taken a long time to find another comparable position.
The government can try to "fix" this but how do you pay for it? Tax revenues are way down - even government jobs are at risk. And raising taxes just doesn't stimulate economic growth. It's a tough situation that I think is going to take a long time to recover from. It just seems like we've advanced to a certain level of prosperity and we're not going to get out of this without a setback to a previous, lower level of prosperity.