The Current Economic Downturn and its Possible Consequences for You.
The current economic downturn and its possible consequences for you.
A country’s economy goes through cycles in order to operate. You can be higher up at times and lower down at other times, as life has a way of doing. An economic recession is the lowest point of this cycle.
People do not notice that it is happening before because government was swift to act on it and its policies and clout were able to stabilize the country’s economy before much damage is done.
Government initiatives and policies put in place recently, however, have shown to be insufficient to stop the country’s economic slide for Now
As the price of oil continues to rise, people are cutting back on their spending, which has a direct impact on the cost of everyday necessities. This has resulted in the loss of jobs and financial difficulties for businesses. A substantial number of homes have been foreclosed on because their owners can no longer afford to pay the monthly mortgage payments. The banking and insurance industries…
