Apr
11
2009
The bright side of the recession
Sometimes a good kick in the pants – like a recession – is exactly what we need to get us moving in the right direction. Think about it. Just one year ago we were all complaining about:
- Low personal savings rates
- High credit card usage
- Soaring oil and energy prices
- An inflated housing market
Today, a lot of these problems are on the mend.
- The personal saving rate has risen to over 3% from a negative percentage in 2005.
- Consumers are learning to spend more wisely as budgets tighten.
- Oil prices were below $35 a barrel in February; today, they currently sit below $50.
- Falling housing prices are making homeownership a new reality for many.
No one’s saying this recession has been painless; a lot of people have lost their jobs, homes and savings, facing difficulties none of us want to deal with. But there’s a silver lining to every situation. And sometimes focusing on the bright side can make coping that much easier. Just something to think about…
April 25th, 2009 at 12:31 pm
I’m a little confused with the line, “Oil prices were below $35 a barrel in February; today, they currently sit below $50.” Does that mean prices are much better now (higher is better), or is the $50 a typo?