February 27, 2009 — Watching the evening news, it sometimes appears as though the recession continues to spiral downward toward a mini-depression, if not worse.
Stocks indexes dropping to levels not seen in over a decade.
Reductions in services.
Nonexistent availability of credit.
Continuing high rates of foreclosures and dropping home prices.
We live in an area that has seemed almost recession proof in all of the economic downturns since we moved here in 1980. Yet, even here, there are empty stores as well as layoffs, foreclosures and higher unemployment. On the other hand, there are new homes being built, businesses that are adding on or building new, and a few help wanted signs.
Most of the people we know, both here and elsewhere, are weathering the storm fairly well, though not all. Quite a few people, including two of my brothers-in-law will have to postpone retirement because of losses in their savings and a nephew employed by Circuit City has lost his job.
So far, we have not been impacted, though we have changed some of our spending habits. In these trying times, it seems better to be frugal and conserve what we have — just in case.
How are things in your area? Have you made adjustments because of the economy?
Store Closing photo from flickr, by dpicker, creative commons licensing