No, not a rollercoaster at a fair; an economic rollercoaster. More and more over the past couple of months, my parents have told me that we are in a bad economic state. I have never really realized how bad off our economy is until going to Target the other day. I looked down practically every aisle and saw lots of little red and yellow tags littering the shelves. They read: “Price Cut” and “Sale” for even the most basic items- food, groceries, water. Then it really struck home with me. Filling up at the pump is another thing I have noticed get more and more expensive. A couple months ago gas was around $3.10 a gallon; now prices are raised to $3.50, even $3.60 or higher at some places.
Then I thought about it: The higher gas is, the more expensive it is for the trucks to get to the places they are going and unloading there goods. Therefore, stores are not making as much money as they used to be able to support what it takes to run things. Although I also know that a recession eventually means things will go back up, that does not mean anytime in the immediate near future. We need to be more vigilant and controlled in our spending hoping that interest rates will rise soon and we can move back to our previous state and means of living.
1 comment:
Good topic. The US is heading into a recession, and many Americans are already in a crisis because they cannot pay the mortgage. How awful to lose your house, but that's what is happening: foreclosures on the mortgage. Will the economic situation affect SMU's applications? I think the cost of college will become out of reach for more and more families. But what can the average person do to help reverse this trend? Should consumers buy more to spur the economy, or should they save and get out of debt? I think Bush wants us to spend our income tax refunds, but experts say people should use the money to pay down their debts.
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