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But the dollar is not just a currency, like it or not, it is THE currency. When the dollar falls, values fall. It’s that simple, and it’s because the world has adopted the dollar as a de-facto international currency. In this case, at its peril and to its eventual regret.
Originally posted by amatrine
I think there are a of posts on possible depression because people really are scared. I know I am, when I go to the grocer and can barley eat for the week.
I can not get food stamps, make over 40k, but I have a house and car payment, utility bills etc, and it takes away from my food and medicine.
If anything else gives, I have no food, or If I turn in my car, I have no way to get to work. If gas goes higher, I cant even get there.
I do not own a credit card, so you cant say I spend it on that. A lot of my money goes to health insurance and copays. There just isn't anything left. Nothing to do with irresponsibility . My house payment is cheaper that what an apartment cost here, so giving that up does no good.
I am almost 40, and never have seen times like this. So to me, is this a depression? Well on my level it is , when I am worried about what to feed my 7 year old and there is nothing I can do about it. To make it you need two incomes, but that does not work when your partner is ill, yet can not get disability due to lack of work credits, catch 22.
I agree this is something different than the depression, but the effects are the same. People hungry with no way out.
According to the February jobs report, there were 565,000 more part-time workers who wanted full-time jobs than a year ago. That's a 21.1% jump in the number of those who are under-employed.
In addition, a rapidly increasing number of people are being forced to take more than one job. There were 161,000 more workers in February who held more than one part-time job than there were in January. One economist said this is a further indication of how bad the market is.
Originally posted by tdubz
we hear alot about the housing market and foreclosures. the reason there are so many forclosures is because people were stupid and thought they could afford more house then they really could. then when that payment bumps up after a few years, they are screwed. In reality, is all of these people who spent money they didnt have that are going to cause a recession because since they no longer have a house, job, etc because of their own stupidity, there is less money being put back into the economy.