How To Recession Proof Your Personal Finances
Posted by Goody on 02/19/08 in Finance
Looking back over the last 50 years, housing downturns have usually signaled pending recessions. Now with the first employment drop in 4 years, stock market fluctuations and the credit crunch many wonder if we may be headed that direction again. Wall Street bulls, or those who have a positive outlook, hope that strong global economies will keep things on an upward track.
To a great extent, the health of our economy rests on the shoulders of the American consumer’s buying power. If we are able to continue spending, many corporations may report positive results, which will buffer negative downturns. However, the consumer may be running out of steam when you consider the low savings rates, high level of debt, home foreclosures and consumption of home-equity coupled with stagnant home prices.
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