Whenever I ask my fiance how much longer until we're there, no matter where we are going, he tells me - as he would a child - "We're 'bout halfway there."
Wiki says this about recessions:
There is a view termed the halfway rule according to which investors start discounting an economic recovery about halfway through a recession. In the 16 U.S. recessions since 1919, the average length has been 13 months, although the recent recessions have been shorter. Thus if the 2008 recession is an average one, the downturn in the stock market should bottom around November of 2008. However some economists fear that this recession may last longer.
Well, we're past November, aren't we? And we're already a year into this recession according to the people who know these sorts of things.
The news is telling us now that 1 in 10 mortgages are now in default or other kind of trouble. And then there was today's jobs report. Layoffs worse than the 70s.
I've been wanting to write about this for a while, but not sure how to talk about it without offending or just fanning the flames, or maybe worse, turning our virtual salon of bitchy decor-related conversation into a place of real-life worry and woe.
But I am curious - how is everyone doing? When do you think we will see the bottom? Are you in trouble? Have you lost your job? If you were to get laid off, how many months could you keep it together... get the bills paid and maintain your life, before you ran out of money?
I feel like we're all holding our breath, don't you? Waiting to see what comes next. But I am all out of guesses. I just don't know.
If your crystal ball is better than mine, or if you have updates worth sharing, I would love to hear it. How are you doing? Is life the same? Have you made big changes? And have any of you made changes that you think will stick for good?
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