Tuesday, January 15, 2008

Our Economy Is Going Down The........

The Democratic and Republican presidential candidates better get to talking real quick about what they are planning to do for the economy. Things are looking very, very, bad! Citibank lost 10 billion in three months! Countrywide Financial was saved from the brink of bankruptcy! The bill for the War in Iraq grows by the hour! Not to mention the price for gas and the current state of the housing market. This country is in debt up to its red, white, and blue neck!!!!!

I am highly concerned about the economy. I don't know if the average American can afford a serious recession period. The economy is everyone's issue, but I believe that it is a serious pressing issue for black women. Considering how many black women head households with small children, a recession could be devastating. How many African American women are truly prepared financially if they get laided off from their job, if pricing for utilities and rents rise, and the dollar covers even less than it did before?

Folks! Start paying your bills and try to save some money, it's looking like rocky roads ahead for many of us.

3 comments:

JerseyBred January 15, 2008 at 10:03 PM  

As hard as I try not to think about it, it really scares me to think of where our economy's going.

I knew as soon as Dubya was elected that we were in for some deep ish.

Symphony January 15, 2008 at 10:19 PM  

And the subprime loans have already been killing Black women since last year. Another article came out. I posted on it today.

http://essentialpresence.blogspot.com/2008/01/women-make-money-now-we-need-to-master.html

Wary January 16, 2008 at 1:43 PM  

The economy appears to be on a definite downturn. It has been reported that wholesale price rose over six percent last year...the highest increase in over twenty years.

Maybe we (the people, our government, our companies) have been living on borrowed money for too long...just a thought.

Whenever I think of recession, I cannot help but amusingly think of an old friend who used to say that she could never really tell when the overall economy was in a recession because she was always in a recession...doing whatever appropriate thing she could to live as best she knew how.

Watch the increasing animus toward minorities. Happens whenever white folk feel the pain of unfavorable economic circumstances. It's been brewing but will come to a boil (I think) over the next year to eighteen months. More attacks on immigration (realizing that there a many views on this but sometimes it seems more like disguised racism). More attacks on affirmative action which undoubtedly will be stated in terms of undeserving/unqualified negroes somehow getting more than they ought to, when in fact no other group has or continues to benefit more from affirmative action than...white women...oops.

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