Dear Reader, the following is not meant to alarm you but to inform you so you can take whatever actions you feel are appropriate. But whatever you do, please take actions that will uplift your spirit, not drain your energy.
The global economy is faltering and now it is hitting the U.S. In June, U.S. factory production fell for the first time since the U.S. economy last hit bottom in July, 2009. This is according to the Institute for Supply Management. Also U.S. exports dropped and new factory orders slipped to their lowest level since October, 2001, shortly after 9/11.
But in search of business, U.S. car makers are offering low interest rates and easy to qualify loans as part of heavy ad campaigns, in order to sell cars. Fortunately as big employers, they are having some success because many people have postponed replacing aging vehicles until now.
However, the global slow motion economic meltdown continues.In Europe, unemployment is high and getting higher, as many European economies are shrinking. In the Euro Zone the unemployment level has risen to 11 percent, which is 17 million people out of work. But as high as 11 percent unemployment is, Spain's unemployment is at nearly 25 percent, the level of the Great Depression of the 1930's and Greece and Italy are approaching those unemployment levels.
Anyone who thinks Europe can "grow" its way out of this mess is fooling himself. For as their economies keep shrinking, more jobs will be lost and tax revenue will decline, which will raise their already mounting deficits and further strain their ability to pay their debts. It is a vicious circle, spiraling downward.
In response to the falling European economies, as their markets recede, export powerhouses, most notably China, are seeing a slowing in their economies.
Meanwhile, the U.S. government, a government in gridlock, continues to run massive deficits and has no answers for its problems.
So in the face of this developing economic debacle, what can you do to protect yourself? Plenty.
1) Take care of your health. Without good health, you can do little to protect
yourself and your loved ones at such a crucial time. If you suffer from
diabetes, heart disease and other often preventable but severe diseases, do
something about it, starting today. Begin eating wisely, slashing junk foods and
get some exercise. Your well-being depends on it!
2) Protect your job.
Cross train so you have more to offer your employer, find ways to help generate
revenue or cut costs because that is how nearly every organization is now
focused, be upbeat because no-one wants to be near a complainer and word about
complainers travels far and fast and tackle jobs your boss feels are essential
but doesn't want to personally do. And with a smile, the more you can do to help
others in your organization with their work, the more support you will receive
from them and this is a time when everyone needs the support of
others.
3) Slash your overhead. Sell-off unessential items such as an
extra car, or a motorcycle, boat or other toys you may no longer be using but
cost you money to keep. Pay down or pay-off your credit cards for those monthly
payments are eating your budget alive. If need be, approach those credit
providers to explain the dire nature of your finances and try to get a
forgiveness of some of your debt or better payment terms.
4) Educate
yourself with practical courses. Select online, extension or other courses that
can put money in your pocket such as those related to computers, medical care or
other much needed skills.
5) Make charitable donations. To the extent you
can afford to, please give generously to charities for in the end, all we have
is each other. And the donation you make now may help someone else get back on
his feet and in turn he may later help you get back on your feet.
One
final note: Together we will get through the horrors of this financial crisis,
for the world has had many financial crises and after considerable hardship, it
always survives them. During the 1930's Great Depression, people came together
to help one another and as times grow worse that is what we will do
now.
Dick
If you would like to see a 3 minute humorous piece dealing
with the faltering economies, http://www.youtube.com/watch?v=NOzR3UAyXao&feature=g-vrec Thank
you to my friend Michael Delees for sharing this
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