Our nation's current economic situation was very clearly written on the wall for years. In fact, many leading indicators have been trending into the direction of a catastrophic economic event for a while now.
A Predictable Predicament
In a blog post in early 2007 we examined several factors that were most likely going to impact our economy in a negative way. Here's a quick refresher...
In times such as these, prudent savers and investors alike must remain so. Do not panic. Continue to think clearly and rationally about your financial situations. Now, more than ever, you should consider seeking the counsel and advice of a qualified financial professional.
A Predictable Predicament
In a blog post in early 2007 we examined several factors that were most likely going to impact our economy in a negative way. Here's a quick refresher...
Even though the U.S. stock market rose to record levels not long ago, these metrics are not the end-all-be-all measures of our nation's financial status. Let's not forget the other (currently less favorable) economic indicators and their effects on our economy:Your Action Items
- Consumers are saddled with enormous levels of revolving debt
- Real wage growth is stagnant
- Personal savings rates are at 70-year lows
- Home-foreclosure rates are accelerating
- Oil prices are at record highs
- Our nation is bogged down in a costly, unpopular war
- Health care and college tuition costs are easily out pacing inflation
In times such as these, prudent savers and investors alike must remain so. Do not panic. Continue to think clearly and rationally about your financial situations. Now, more than ever, you should consider seeking the counsel and advice of a qualified financial professional.