EconomicCrisis.US

I DO not remember witnessing this kind of global panic in my lifetime. Probably the twin towers crash generated a reaction of similar magnitude as the recent financial meltdown and recession.

Among others, a lot of well off people are going to be directly affected by the current financial crisis, hence these high decibel alarm bells. Significant market values of high profile companies have been wiped out, rich individuals who invest actively in stock market have suffered devaluation, many companies have begun to fire employees and cut costs, and as bigger companies face slowdown, their smaller suppliers face greater threat to survival. Consumers have begun to tighten spending and fears of recession giving way to depression are already stalking. Though a lot has been written and a lot is yet to be written about this turmoil, my purpose here is to draw up its deeper structural links and paint the broader picture by viewing it together with other crises facing the human society.
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The W.E. Fuller company has been selling men’s clothing in downtown Amesbury for more than 100 years.

The Fuller family has run the store through the Great Depression, the two World Wars, through boom years and slow downs, all of which gives Ron Fuller, the current third-generation owner, some perspective on how the ongoing financial crisis might affect business.

Fuller isn’t convinced by reports that warn retailers that this holiday season may end with dismal sales numbers. He thinks the media is creating a gloom-and-doom cloud over the season.
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The economy has been in steady decline this year, effecting both Main Street and global markets. To better understand where we’ve been and where we’re headed, Insider Forum looks back at some of the advice given by financial analysts, personal finance columnists and others.

The U.S. economy has been in a steady decline since early this year. As Wall Street melted down, the effects were felt across the country on Main Street, and across the globe in foreign markets.

Insider Forum looks back on some of the financial and economic advice given over this year by NewsHour guests.
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While America holds its breath wondering if the new president will fix the economic crisis, we citizens have to keep the root causes in mind, like our raging wealth and income inequalities. As busy as the population is investing in canned goods and small arms ammunition, there is at least some awareness of the growing gap between the rich and everyone else. Without a better social awareness of this great divide, fighting to change it is impossible. The divide itself has been widening for 30 years, and so have the rich.
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