Re: U.S Economy slowing or crashing?
I live on the right side of town so not really. However, I think everyone here is up to their eyes in debt and the slightest little thing will be enough to put them in foreclosure or have their car repo'ed.
I remember when I was pretty young my dad was laid off right as he graduated from college. We were able to go for months while he looked for a new job because my parents drove old cars that were paid for and had a house that was paid for. I know I couldn't do the same thing. If my wife lost her job tomorrow we would be in serious trouble in less than a month and four of our five vehicles are paid for. I think most of America is in the same boat. That is why foreclosures are at an all time high. The debt load is high and savings are low. The slightest bit of bad luck or bad choices and it is all over.
Also my generation grew up with a lot of things handed to us. I look at a lot of my friends and they are used to always having everything that they wanted. They don't realize that their parents worked hard and lived poor for a lot of years to get to the point that they were at. I feel lucky that I remember being really freaking dirt poor when I was young. I watched my dad work his butt off to get to a point that he is very well off and can afford to have a lot of luxuries. My youngest brother grew up with a very different lifestyle than I did because my parents had "made it" by then.
So now my generation is so used to having everything that they graduate from HS and think that the world owes them a new truck, a new CBR, and nice home. Not enough of them go through the stage where they live in a crappy college apartment, driving an '85 Fiero that they paid $1500 for when they were 16, and eat macaroni or ramen 5 nights a week.