For months now we have been hearing talk about many people’s concern for the possibility of being hit by a Double-Dip Recession. Now, recent reports show that last Tuesday, world stocks fell with many believing that the fall was greatly caused by concerns that the U.S. economy is sliding back into a recession.
In a FoxNews report, investment specialist, Joost Van Leenders, had the following to say, “We’re still ‘underweight’ equities because of the economic outlook. We’ve been expecting a slow down in the second half of the year with the boom from inventories and stimulus spending fading, and it has actually been a bit worse than we had anticipated.”
As the dollar continues to weaken, for many it appears as though the plunge for a double-dip recession is becoming inevitable. As a result, Americans seem to be pinching their pennies stronger than ever which economists are fearing that this is only worsening the problem. So what is to be done? The answers to this question vary as much as the opinions of whether or not there even is a real fear of a double-dip recession. Some experts are suggesting that by not spending money for fear of another recession, Americans are in turn putting themselves into another recession and that they need to drop the fear and spend. Who are we to believe?
One possible solution is for Americans to continue building up a savings while continuing to spend money at the same time. How is that possible? Be creative. Have a garage sale or sell a car that you do not really use any more. You could also go through your old jewelry box and get great money for your scrap gold or other precious metals since these rates continue to hold strong. Any extra money that comes into the house that you normally do not receive should be saved as an emergency net.
