On October 29, 2009 The American Government reported that the recession which officially started in December 2007 may finally be over. Or is it? Even though gross domestic product (an indicator of economic growth) rose 3.5% in the third quarter when compared to the second quarter of 2008. Unemployment is continuing to rise and is predicted to remain “severely elevated” throughout the year. According to White House adviser, Christina Romer.
So what do you do if you are one of the 15.1 million Americans left to wonder whether or not they can make it through another stressful month? Downsize?
Unemployment is here to stay and here’s why. The government in its prediction that the recession is over may be a bit premature in my view. Throwing $757 billion at any economy in serious trouble is like adding another quart of oil to the old clunker in your driveway. You keep burning the oil knowing that one day ’betsy’ is bound to break down for good. In other words, your bound to get at least a sputter of economic growth.
In the meanwhile, consumers just like you, continue demanding cheaper products and services. Which in turn forces manufacturers (who employ you) to open overseas shops where labour costs are low and taking the jobs, your jobs with them. Inflating the numbers of unemployed.
Its a simple formula really. A real Catch 22. (A satirical, historical novel by the American author Joseph Heller in 1961.) Somethings got to break!
Now unemployment leads to the issue of the record number of foreclosures across the American nation.
I am a rational person, and it is beyond my ability to understand how it is the large financial institutions, arguably the architects of the sub prime mortgage meltdown, got bailed out in the first place? In some great cities like Detroit, MI entire neighbourhoods abandoned, homes across the nation sit empty foreclosed by the very same financial institutions allowed to survive with taxpayers money. Your money. Ridiculous! In the very least a moratorium on foreclosures should have been put in place to protect American families as a condition of the bailout.
I could go on, but I digress and do thank the stimulus package efforts and corporate bailouts by all governments at every level.
Our economy is changing each and every day and we all know change can be a very scary place especially when you try to hold on to old ways and ideals. Its time to let go and find your true path to future that only you can create. Decide what is important to you. True abundance is not about how much stuff you have, its about following what excites you and the relationships you develope along the way.
In my local newspaper, The Calgary Herald, I was reading an article about how the recession is affecting families in Alberta and more importantly how attitudes about wealth have changed. They reported that 42% of unemployed women have no intention of going back to the work force. The reason, less money, less stuff and a much more rewarding lifestyle. Maybe its time we all got off the treadmill. Down sizing may have its benefits!
