It all began with the collapse of the subprime-mortgage market last year. You can't help noticing that it's happening, it is written all over the place, it's the stock market's worst day since 9/11. Add to the list where Lehman Brothers is already in, Merrill Lynch and AIG. Add to the same list.... many other companies that may not be in that scale but already are in financial trouble or heading to. And I doubt if we have seen the worst of it.
This is serious, much more serious than ever. This is really seriously will affect our life in the next years. Will things turn around? The likeliness is there, but it will take a while. Intelligence and patience are required in this kind of situation. Ten years ago, we were faced with a similar situation, not as large in size and we hung in there and pull through it.
What to expect in the short run? Unemployment will be up, crime rates will increase, money will be tight and life will be more stressful if one choose to make it so. The last one is the one that we hope to be able to control. Let's say amen to that.
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