Freezing in NH

CNN Money’s #1 Issue is America’s Money.  How nice of them.  But it’s an American publication about money, so I guess it’s not that much of a surprise.  A recent article highlights what the declining economy might mean to you.  Personally I love the article mostly for the first picture, but the text is useful too.

The basic outline is that even if your job is safe, raises are smaller to non-exsistent and inflation is outpacing what raises people do get.  The Fed cutting rates to attempt to stave off a recession means that imported goods (and everything is made in China these days) are more expensive.

Some sectors are losing jobs, home prices are falling, Wall Street is going nuts (in a bad way), and everyone is putting off discretionary purchases.  So it looks like it’s going to get worse before it gets better.

So fatten up your emergency fund, work on that side-business or passive income, and hunker down to ride out the storm.

This entry was posted on Wednesday, April 9th, 2008 at 7:15 am and is filed under articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.