The Credit Crisis is Only in the First Quater
June 24, 2009 by admin
If the credit crisis was a football game we are only in the first quarter and the score is not looking good. With all that has gone in so far one would like to think that the worst is over however many experts are predicting that this crisis is only a quarter of a way through.
The car industry is a great indicator of judging the strength of the economy. When times are prosperous then cars will sell, when times are bad cars do not sell, it is that simple. At the moment major car manufactures are struggling to stay afloat, if they start to drown then things are going to get a lot worse. Another guide for the economy is the local meat store, if you speak to your butcher and ask them what types of meats they are selling this can be related to how the economy is doing. For example is times of a strong economy a butcher will sell more high quality steaks such as t-bones and sirloins, however when the economy is going bad the sales of these high priced meats goes down and people opt to buy cheaper lower grade meats.
The point is the world has a long way to go in order to triumph in this financial game. We will be working behind the eight ball for some time to come. There are many opinions on how long it will take before we reach the light and the end of the tunnel, some say 3 years others say 5 to 10 years. But one thing is for sure that for the foreseeable future there will not be too many people driving new cards and buying top of the line steaks.
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