I’m sure this won’t be the last article like this. People are selling all kinds of things to cover their monthly bills. From Jewelry to Harleys it’s all got to go. No one is exempt from this as even people who thought of themselves as “wealthy” now find themselves selling their high ticket items to keep their homes or pay for basic necessities. I guess maybe they better redefine the term “wealthy” for these folks.
http://www.komonews.com/news/19269219.html
One of my clients who outsources his I.T. work to me used to take care of multiple businesses. He had a cellphone shop and he also had satellite tv business plus internet business and a couple more; basically a guy who used to do great and has not worked for any company for the last 10 years. He had been telling me how his cellphone shop is rather putting him under debt than making him any money anymore. He told me only yesterday that he used to sell around 79 units/day but now it’s only somewhere between 20-30 or even lesser than that. So he has decided to sell his shop but to sell a business that’s not working well is another story. He is even considering to put an end to his other businesses and start working for some other company. Now this tells you how badly our economy has been hit and the purchasing power is slowly decreasing and how this will negative affect on a lot of people.
We should start using our oil reserves instead of spending billions of dollars to buy oil. We have a LOT of oil in our reserves. We can save billions if we start using our reserves and that can have a very positive effect on our economy and thus, it will benefit us all.
All hopes are now on the upcoming elections. Hopefully, 2009 will be a better year than 2008!