Tuesday, January 6, 2009

Anxiety and the Great Recession

For most of the past six months the economy has been in a free fall. For those of us who work in business we have watched as colleagues disappeared. Like Soviet Russia in the 1930's they just disappear and we don't speak of them again.

Each day there is anxiety and fear "will today be the day?"
People say that this Recession is nothing like the Great Depression.
Paul Krugman disagrees and I am beginning to think he is right.
The fact is that everyone I know is leveraged to the hilt and they dont really own anything outright. That type of lifestyle does not fare well when you do not have a job.
I am lucky that I seem to be making it through today. But, tomorrow that is up in the air.

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