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Recessions, depressions...

Submitted by jkjk on January 2, 2008 - 18:05.

"We" are not in a recession, but that's the national "we", not the community "we" or the family "we". There is definitely a recession, even a depression in the housing sector in the big cities - prices are down, and sales volume is down. On the other hand, in the manufacturing exports sectors, we're probably growing, because the dollar's not worth so much today. The happiest person will be the person who can move from one sector to the other, or the construction company that happens to also build or renovate factories. :-)

The 50 year old builder with a mortgage isn't going to be very happy.

The people with the least, who work in the worst jobs for the lowest wages, who can't save up for a potential recession because they not only live paycheck-to-paycheck, but already live frugally, suffer first.

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