At the current pace, I anticipate that unemployment will be about 12% next year. Look around you and count 8 people. One of them will be unemployed due to a shrinking economy. Ooooh, did I say ‘them’? I meant one of you. And possibly me.
The process works like this: less spending, less buying. Less buying, more price reductions. More price reductions , less profit. Less profit, less workers. Less workers, less spending. And it keeps happening until the company a) folds or b) has outlived its competitors.
What to do….wurra , wurra, wurra.
What is your plan B? Do you have one?
I am thinking of buying a vehicle now. Why? Well, 1. the deals are good, 2. the auto companies have not yet started to cheapen their products with inferior materials and remove features 3. I need something respectable to drive for the next 12 years or so, and 4. the one I drive now has 271,000 miles on it. That is the distance to the moon one way. Time to buy, I think.
But doing this means I abandon my own advice to not buy now and save the cash.
Wurra, wurra, wurra.
What should I buy?
1 response so far ↓
hd // January 8, 2009 at 7:58 am
Hyundai – they have a return policy if you lose your employment. Not a bad thing considering the current economy.