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Are We in a Recession or Depression?

By · July 20, 2008 · Filed in Investing · 2 Comments »

    How Far Will Your Money Go These Days?
 

     My family and I went to the Kidspace Children’s Museum this weekend. It was really a remarkable place. There was a photo that caught my attention and I just had to get a snapshot. How far will your money go these days? Whether we are in a recession or a depression this has been the topic of discussion amongst many of my friends as of late. There are several that believe that we are in a recession and others that believe we are already in a depression. I feel that we are in a recession but we are treading water and are very close to a depression. 

     Today there are a record number of Americans receiving food stamps. Gas prices at an all-time high, and staples such as milk, eggs and bread costing a prettier penny every week. The average number of Americans filing for unemployment benefits reached its highest level in two years last week, while just this week, construction spending fell for the fifth straight month and manufacturing activity shrank to its lowest level in five years. Real estate values are even plummeting all over the nation. Many banks are saying they haven’t seen a decline in the housing market since the Great Depression of 1929. In 1933, 24 percent of the workforce was unemployed. In February 2008, according to the Bureau of Labor Statistics, the U.S. unemployment rate was 4.8 percent (though there are reasons to believe that number significantly underestimates the true picture).

     As I mentioned in my previous post, there are 75,000 people daily looking for other opportunities especially with the current market. I’ve even had people email me to get involved with my real estate and mortgage business. I do warn them that things are drastically different with different lenders changing their guidelines constantly and homes appraising at very low values. It is still very possible to do well, however, I try to prepare them for what to expect. I also advise them to look into other avenues where the current market doesn’t dictate its success. 

     The internet is definitely an avenue where people are putting their time and energy into and a great place to invest. We were told to invest in real estate as my siblings and I grew up and and now as the advancement of the internet, we are being told to invest in an internet business as well and ways to drive people to your business without having to pay a large amount of overhead costs.  As many people are looking for ways to spend more time with their families and some that are facing layoffs withing their current jobs, take some time to research the internet industry. For more information on a home based business, feel free to email me @ passivecashgal@gmail.com

More beautiful pics from the museum:

 
 
 
 
 
 
 
 

 

Naomi Trower
Passive Cash Gal
Success Coach & Entrepreneur
Be Recession Proof!