The “R” Word — Recession
January 22nd, 2008
With the world’s stock markets falling it is looking more and more like a recession is on the way. Initial reports blamed the U.S. housing market situation, but that is now looking like just one symptom of a larger problem.
What can we expect if this proves to be true? A cycle of rising unemployment, falling real wages, further housing loan defaults and rising personal bankruptcies. These issues feed off each other, for example as someone in debt face unemployment, they reduce spending or even default on loans, which others and so on.
What can we do? This may sound self serving considering my website sells U.S. made products, but frankly buying items made here does vastly more good for our country’s employment level than buying goods made in other countries. Now more than ever it matters, as the people who made that product need that job. Keeping them employed helps to stop the downturn from getting worse.
In effect, the negative cycle is broken if we buy products made here in the USA.
Tuesday, January 22nd, 2008 at 2:47 amand is filed under Uncategorized.
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I completely agree and tell my students that each person matters, whether it’s voting someone into office or purchasing a USA-made product; we are making a commitment and an investment in the livelihood of our communities. Americans must band together to create a market for US goods by buying American-made products. I check everything I buy to see where it is made, and if it is not stamped “Made in the USA” I put it back on the shelf.
Thanks Patricia! The fact is we really do have a choice. I will make sure we keep adding USA made items to www.MadeinUSAForever.com. Please help me spread the word. Sincerely, Todd