Signs of a Recession

27 Mar

99-cents.jpg Ray: The other day I was talking to a couple of friends about the recession that the United States is facing and how the average American is being affected by it. No other story was more revealing than the one my friend Tre told me that day. It basically went something like this:

“I used to go to the 99 Cents Store to buy my favorite drink. It usually comes in a 6-pack. I knew the economy was bad because when I went to buy it this time, it came in a 4-pack. What the hell?”

That’s hilarious. As you can see, real people are being affected in real ways by the changes in the economy. Please share with us YOUR stories about how the recession has affected your life. We look forward to hearing from you.


2 Responses to “Signs of a Recession”

  1. Candace March 27, 2008 at 7:39 am #

    Greetings! I just want it to be clear that the US is not facing a recession, we are swimming in one.

    The following is from on March 17, 2008:

    “Whether the country is officially in recession is determined by the National Bureau of Economic Research, a private nonprofit research organization. The group considers several economic indicators, as well as the severity and duration of a downturn.

    The NBER says the most recent recession lasted from March 2001 until November 2001 and that the economy has been in “expansion” since then.

    The group typically does not declare a recession for anywhere from 6 to 18 months after its arrival.

    On Friday, the NBER’s president, Harvard University economist Martin Feldstein, said we are in a recession, though it was not an official NBER declaration. ”

    I don’t have any horror stories yet, other than that I paid about $3.17/gallon for regular gas in central New Jersey the other day. My bagged salads at the supermarket have gone up to $3.29, and I paid $0.65 for a TastyKake chocolate chip bar. There was once a time when a quarter would have been all the change I needed.

  2. bruce t April 5, 2008 at 10:32 am #

    I don’t think we are in either. People will do what they are forced to do. Remodel vs. buy. Pay cash vs. credit.
    Pay off credit cards, e.g. the middle class and lower classes (if $ available). Of course, then corps. will legally use tax law to trickle all their trash down to the middle class, as usual. Better plant a garden. Park and ride, a bicycle, that is.

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