Tuesday, December 2, 2008

Recession


Initially, the US government officials were in a denial that the country is experiencing recession. Immediately after the economy has slowly collapsed, a lot of financial institution declares that they need help from the government in order to survive. Hence, the big bail out happened. Now, another sector of the market is crying out for help. From financial institutions, now it is the US automakers industry.

Economy is very down right now. Guess who are the most affected? Well, no other than the ordinary citizens of this country. Those people who are earning only couple of greens every hour and those people whose companies are closing. Foreclosures are soaring high these days. As what expert have said, if you have money, today is the best time to buy either cars or houses because of a lot of very good deal available in the market right now.

Too sad that the situation has to come to this point. I hope that US will soon recover; it might not be too easy but I hope it will happen soon.

No comments: