Posted by JML755 on December 08, 2008 at 09:31:04 from (66.184.63.110):
In Reply to: OT The Economy posted by RobMD on December 07, 2008 at 12:42:27:
Work for an auto supplier, wife is a nurse. Like others, especially in Michigan, wife and I still employed but don't feel "secure", so we're now carpooling to work, brown-bagging lunches, no expensive restaurants, no discretionary spending (clothes, tools, household items), only necessities. Actually able to put several hundred or so a month extra into savings. Bad times are here and going to get worse.
As others have said, it's psychological now. Everyone is hunkering down and it will take a boost in consumer confidence plus a turnaround in the fundamentals of the economy before things turn around. Expect 5-10 yrs before the "good times roll" again.
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