Recession and slow down of economy

@vsraovsr (734)
India
March 31, 2008 9:45am CST
Hi friends , We are now coming across recession in US economy and also slow down of Indian economy too. Also experiencing mortgage losses, higher inflation,steep escalation of prices. Many banks also reported losses and also steep decrease of loan applications .All these directly/ indirectly affecting our daily life and budgets.How are you planning to cope up with these developments?
1 person likes this
4 responses
• United States
2 Apr 08
Yeah, I'm really feeling it! I've had to cut down on lots of my travel and spending. It's unbelievable what the US dollar is worth right now! Just terrible! I've cut out food costs, entertainment costs, and cancelled out gym membership because of the recession. How is it effecting your life in India?
@vsraovsr (734)
• India
3 Apr 08
It has primarily effected our monthly budget with essential commodity prices shooting up and the local transport fares due to raise in petrol and diesel prices.
• United States
6 Apr 08
The economy is in really bad shape right now. Gas prices are like $3.50 up here in Indiana, and just a week ago it was like $3.45, so its growing quickly... I dont know whats gonna happen, but right now, it is definitely not looking good. Millions of workers are getting laid off right now aswell, how are these people going to get money?
@ladym33 (11008)
• United States
2 Apr 08
I am cutting way down on my driving. I try not to go out during the week more than once, I try to do all my errands in one day. I own a home business so I don't have to drive to work everyday. I used to drive to the post office to mail my customers orders, but now I go only once a week and I stock up on postage and I just put them in the mailbox for my mail man to take. I am also going to start a garden this year so I can grow a lot of my own produce.
@mari61960 (4895)
• United States
2 Apr 08
Well I keep hearing about this recession, but I'm not sure I believe it is anywhere as bad as it is being portrayed by the media. I go out to eat at least 4 nights a week. Well there are still people waiting for 1\2 hour to be seated because it is so crowded. The stores still have endless lines and sales items are still flying off the shelves. The casinos are as packed as ever. Even finding a flight is ridiculous... even with higher prices they are at. People are still buy huge waste of gas vehicles...As for real estate.. much of the reason for all the foreclosures is that banks financed loans for many people that really couldn't afford it to begin with. Now no one can afford to buy a house because the prices are unrealistic in my opinion. I just can't buy into it, no pun intended..lol Blessed Be, Mari