Your kids won’t go to karate class, or dance class, or have other pricey extra-curricular activities anymore.
By Daniel at 28 December, 2009, 2:55 pm
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Right now, America is experiencing a combination of economic conditions it has never seen before, and quite frankly, no one really knows exactly how this story is going to end.
While there are some who are oblivious to the new economy around them, those more directly effected believe that this is no ordinary recession. In some areas of the country, record unemployment has brought entire communities to their knees with images that make the Great Depression look like a picnic. Some estimates of the true unemployment rate for areas like Detroit is 50%. At the height of the Great Depression, it was only 23%.
The deepest, most enduring recession we have seen since the 1930s, America will be a different place. The eternal spring of revolving debt has already dried up for many consumers. For those still hooked on living the dream they can’t afford to pay for without a credit card, High interest rates on the horizon. So high- paying down the debt may be almost impossible.
Hence, out of necessity, the American lifestyle will change. There will be fewer new cars parked in the driveway. The kids won’t go to karate class, or dance class, or have other pricey extra-curricular activities anymore. That new toy or shirt will yield to keeping what you have until it is truly worn out. Economy will replace luxury. The middle class will have a new, lower material standard like in the Great Depression .
A new generation may grow up less accustomed to seeing a credit card as a virtual, endless supply of money. Perhaps the core of our problems has been a cultural one. Our measure of success has become more material than moral. That in turn, has caused a personal, self-inflicted contest for possessions, which has led millions to bury themselves in a bottomless, debt-ridden hole. What we own should not define us. Nor should it cause us to judge others. A less affluent American can be a better America. It all depends on our attitude, and how we adjust to our new economy after this government induced stimulus bear stock market ends.
- Prophecy
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