US Gross Domestic Product (GDP) contracted 6.2% in the 4th quarter of 2008.
Oh yes, this is going to be a rough ride...and I wish I had better news.
Paul Krugman is saying things are even scarier , considering new unemployment data.
In personal news, nothing has changed allowing me to work and keep my health care, and I wait in poverty for someone to notice the plight of some people on SSDI and Medicare Part D. And the person I live with has been unemployed since mid-November; one of the many good tech jobs that have just vanished.
Frankly, given my health problems, I'm wondering if I'm going to live thru this one. We've reallty got to start pulling together and kicking some economic butt.
My advice: please remember, if you are one of the folks who are still employed: save some, spend some, give some. I think that is either a paraphrase or a quote of what Rockefeller children were once taught regarding money.
Save some, in case something happens to your job or assets.
Spend some, at the vendors which you hope will weather this economic storm, to keep some businesses and jobs alive.
Give some, since friends and family may be in dire straights and need your help to get through this. Ask those whom you think may be vulnerable how they are really doing. Don't wait for their crisis to be even more $$$ or, God forbid, dangerous.
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