I am in the construction industry and my business went in the toilet 2 years ago. About the same time I started working for banks on foreclosed properties. Now I am busier than ever. It's really sad but it's terrible and going to get MUCH worse. I know the numbers for projected foreclosures and this is from the drop off 2 years ago. The people going out of work, and businesses shutting down now will hit in the next 1-2 years and there's more now than then. It's dominoes and it's gonna be really ugly and take a long time to recover, don't believe the hype about a recession. We are 2 years into a recession not 1 and we are entering a depression.
It will be nation wide also. We are soon to have some food shortages due to lending issues and crop insurance for farmers. Also they lost alot of crops last year because of rain and a propane shortage in the farming states at harvest time. We are in for hard times.
Unfortunately our supposedly elected leaders are making the problem worse rather than fixing it. Instead of addressing and fixing the problems they are putting duct tape on it again and it's not gonna hold. We still have the baby boomer retirement problem which will bk social security in less than a year and the baby boomers losing half their retirement money from the stock crash, forcing them to work longer, keeping the jobless rate higher. It's bad news.
By the way Cali is broke. We are getting IOU's for tax returns and they need to find 20 billion in the next month.
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