The US recession is deepening at a scary rate.....
Discussion
Cost living has dropped most in 60 years as wholesale prices drop the most since 1947, and housing is continuing to fall. 2009 is going to be the worst year I have ever seen economically, I expect. Just came back from from very senior level meetings in the US and the sense from major companies is incredibly pessimistic with some internal forecasts of a 3% contraction in GDP next year. This will spill over to the rest of the world too...
http://www.bloomberg.com/apps/news?pid=20601087&am...
http://www.bloomberg.com/apps/news?pid=20601087&am...
Purple and other "designer" colours are usually reserved for UK TVR owners 
But, yes we do seem to be in the crapper with regard to the economy. Basically if you have a job, there isn't a problem, things are getting ridiculously cheap and it's hard not to go out and buy toys.
Then you look at your tanked investments and realise you don't have anything to buy toys with.
I've never seen a statistic but I would guess that there is a higher percentage of Americans who are mortgage free and those that do have a mortgage are on a fixed rate for the full term. So their monthly is fixed, although if they have escrow then that could change with real estate taxes.
The stronger Dollar is a suprise and will/may help manufacturing countries like China. (Like we need more Chinese crap) I think UK has more of a problem actually, the week pound does little for a country without a export base. It may lure more good people abroad and leave less earners to pay for it's overburdoned public sector payroll.
I personally feel UK put itself in a position where if something like the current economic slowdown occurred it would be in a position where it is unable to defend itself. Quite irresponsible IMO.
I'm just going out to fill out my cars at $1.83 and take it a day at a time.
Gotta look at the positives
Wotcha gonna do
But, yes we do seem to be in the crapper with regard to the economy. Basically if you have a job, there isn't a problem, things are getting ridiculously cheap and it's hard not to go out and buy toys.
Then you look at your tanked investments and realise you don't have anything to buy toys with.
I've never seen a statistic but I would guess that there is a higher percentage of Americans who are mortgage free and those that do have a mortgage are on a fixed rate for the full term. So their monthly is fixed, although if they have escrow then that could change with real estate taxes.
The stronger Dollar is a suprise and will/may help manufacturing countries like China. (Like we need more Chinese crap) I think UK has more of a problem actually, the week pound does little for a country without a export base. It may lure more good people abroad and leave less earners to pay for it's overburdoned public sector payroll.
I personally feel UK put itself in a position where if something like the current economic slowdown occurred it would be in a position where it is unable to defend itself. Quite irresponsible IMO.
I'm just going out to fill out my cars at $1.83 and take it a day at a time.
Gotta look at the positives
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