I don't recall the recessions in the 70's and 80's. What I do remember is, we didn't have as much as say, other people. Lets include the fact that both my parents where in university, so our 'poor' state could have been a student allowance. When I think about my childhood in the years my parents went to Western, we didn't want for anything, because we didn't know what we didn't have.
I am a parent now and in my thirthy-fifth year, I still don't feel it. It could be that I work for a First Nations community and don't pay taxes, or own a car. Maybe some day my family will have a car. I know it wouln't be a new model, as I can't imagine saving that amount.
This is an
older article from CNBC that I found when looking for more information on another, recession related topic.
How I see whats happening is controlling the masses, makes me think back to President Obama
inaugual speech. Hardwork, tough times, so forth.
“The current situation has nothing in common with the Great Depression,” says economist Steve Hanke of the Cato Institute and Johns Hopkins University. “The sooner they [in Washington] stop spinning the bad news story and say nothing, the sooner we’ll be more confident.”
This is a scary time, and I'm trying to put myself in everyone's shoes. I can understand that economist and government, aren't really hiding the truth, in this financial crisis.
In history we know that we have the capability to learn from our past, and we always come on fine. If I just knew what a recession felt like.
In the article it closes with a cloudy hope. "The consensus is this recession will end sometime between the second falh of 2009 and he beginning of 2010. the pessimists say wait till next year-period. David Jones, COE of DMJ Advisors, is among those who see 'hints of stability.' By that he menas, the rate of decline in areas like retail appear to be slowing. We'll see the same thing hppening on the housing side in the next couple months," says Jones
Below our the artciles that inspired. The people our the stockholds.