Nailz, I recommend you staying off the left wing, BS websites. You're not going to be standing in a soup line.
~Brian~
No flavoricious chicken soup? NOOOOOOOOOOOOOOOOOOOOOOO!
You clearly missed the sarcasm.
Anyway, I think we're pretty much seeing the effects of a world economy collapse. And frankly, I don't think this is anything other than a market correction. For too long, American's have been spending WAY beyond their means. It was bound to catch up to us sooner or later, we're just seeing it come to a head now. People owe too many companies too much money. As soon as that debt is reduced, either by paying it back or it being forgiven, I think things will be better.
Do we ever go back to the "boom"? Well, maybe in 20 or so years... but the next 5 or so years are going to be hell. I'm over it though, as I didn't succumb to stupid housing loans, nor have I yet been a victim of layoffs or job hunts, thankfully, and pray my job will be safe through this tumultious time. I've got $2000 in credit card debt that will be paid off in 3 months, and I will be able to agressively save for the first time in my 12 year working life.
However, I know that most people are not in the same boat, and that tough times are all around. My heart goes out to them, regardless of how they ended up in that situation.