A Long Hard Stretch of Tough Times Is Underway

In the minds of most Americans, a recession is here. Most economic news is of a negative nature and often quite alarming. The big questions out there are the basic ones being asked : How bad is it going to get, and how long will this downturn last ? Both questions are difficult to answer. Many economists do not see the end in sight, and an upturn is unlikely until sometime deep into 2009 at the earliest, but not for everywhere in the nation. Places like CA and AZ may be in recessions until 2011 and beyond. As far the extent or depth of this downturn, many economists are quite glum. Rising commodity prices; limits on available credit for individuals, families, and business; an ocean of debt being generated daily by the federal government; and ever declining home values along with continuing increases in foreclosures spell a strong probability of this downturn being the worst in over a half-century and more. The always misleading GNP numbers may say otherwise, but for most Americans who are not wealthy, the next two to three years promise to be of great difficulty with taxes probably needing to be increased on most levels, higher prices for consumer goods which are all being imported thanks to corporate greed and misguided trade policy, declining home values, increased costs for goods and services, fewer employment opportunities, and a debt crisis in many households that continues to mushroom as Americans struggle to enure themselves to a lower standard of living brought on by globalization, corporate greed and waste, and government complicity.

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