As on today you are getting less money compared to year 2000. So we are paying more money for gas , gold and so on. Its easy to understand in the year 2000 we were getting 1.21 euros for a dollar. But right now we are getting only 0.68 euros. Means If we have 100 dollars in year 2000 right now that become worth only 56.19 dollars. Means we lost so much wealth already compared to other nations.
Now currency of china yuan is fixed with US dollar. If china move their currency yuan floating. We cannot buy any goods from china. Yet that day has to come. I think from that day real depression starts.
People get laid off rather than get pay cuts. Odd, when you think about it, they don’t have a choice. So it won’t affect your paycheck unless you paycheck stops arriving altogether.
An exception might be if you work a lot of overtime and a recession negates the need for that. Or, you’re a salesman on commission and fewer people are buying your stuff.
But really only a few percent of people are actually affected at all in any recession.
Recession means less money being made. Depending on your occupation you could lose your job. Less people shopping, fewer jobs in merchandising. Fewer loans available, less construction and banking jobs. People have no money to eat out, alot less food service jobs.
Recession is a vicious cycle once it gets rolling.
July 2nd, 2009 at 9:24 pm
Less spending can result in job losses and cuts. Depending on what you do for a living and who pays your check.
July 2nd, 2009 at 9:24 pm
As on today you are getting less money compared to year 2000. So we are paying more money for gas , gold and so on. Its easy to understand in the year 2000 we were getting 1.21 euros for a dollar. But right now we are getting only 0.68 euros. Means If we have 100 dollars in year 2000 right now that become worth only 56.19 dollars. Means we lost so much wealth already compared to other nations.
Now currency of china yuan is fixed with US dollar. If china move their currency yuan floating. We cannot buy any goods from china. Yet that day has to come. I think from that day real depression starts.
July 2nd, 2009 at 9:24 pm
People get laid off rather than get pay cuts. Odd, when you think about it, they don’t have a choice. So it won’t affect your paycheck unless you paycheck stops arriving altogether.
An exception might be if you work a lot of overtime and a recession negates the need for that. Or, you’re a salesman on commission and fewer people are buying your stuff.
But really only a few percent of people are actually affected at all in any recession.
July 2nd, 2009 at 9:24 pm
Recession means less money being made. Depending on your occupation you could lose your job. Less people shopping, fewer jobs in merchandising. Fewer loans available, less construction and banking jobs. People have no money to eat out, alot less food service jobs.
Recession is a vicious cycle once it gets rolling.