In regards to the economy, '06 will be a tough year for those who don't belong to the millionaire's club, as the gap between rich and poor continues to widen, and the middle class disappears.
Energy prices will continue to rise, as gasoline prices jump to $5.00 p/gallon, heating fuel and gas increase 50% in price, and jet fuel hikes forces the airline industry to re-think their overall strategy, and raise prices even more. In the end, we - the consumers - will be the ones taking the hit, as consumer products become even more expensive, food, cleaning products, perishable goods (with the exception of clothing), and much more will reach record levels in prices, squeezing us out of our hard-earned money and savings (if any). Bills, bills, bills will continue to pile up, as people opt for vanity and escape, as opposed to fiscal responsibility and budget planning.
The real estate market will not continue to boom, as banks & lending institutions make it more difficult to get a home loan, and the new bankruptcy law gets in full gear.
Personal debt will reach an all-time high, as people continue to leverage their lifestyles with credit cards and loans, failing to prepare for the "big squeeze" ahead. The effects of hurricane Katrina will trickle throughout the nation, especially in the retail sector, leaving thousands without a job. (Their best alternative: acquire new and relevant skills to remain competitive in the current global economy.)
Capitalism is not a compassionate system, so either you make your power move, or someone else will make his or hers at your expense. And for the record, there's no such thing as luck; there's prepared, and there's unprepared...
So, which one are you?
Holla back! GX
1 comment:
what's up emily, the news are very interesting, since it's mandatory to keep-up with curent events. Just so you know, i'm in toledo, ohio for a few weeks, and tomorrow: 10/15/05, there's a neo-nazi march scheduled to take place here in the city of toledo. what's worst is that the toledo government officials and the police department are sponsoring and protecting the hate-group, as they march and terrorize the streets. go figure... but that's why i've began to write what i know and feel. holla back with more news and comments.
peace! GX
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