Every day, when I check in on the business news served up by Google News, the outlook for the US economy seems even more bleak. As I sat and started to type this post yesterday, headlines which jumped out at me included record crude oil prices of $112.21 a barrel, a declaration from the International Monetary Fund that the US economy is going into a recession, and an update on the ever climbing foreclosure rates and possible mortgage bailouts.
In addition to the bleak news stories, it seems like every time we chat with friends and family with corporate jobs, people are going through layoffs and downsizing, and it seems like more and more of my flooring competitors are laying off or going out of business as well.
Thankfully, we’ve never been ones to sit idly by when it comes to business, and “multiple streams of income” has been part of our mantra for as long as I can remember. Still, the current economic trends are less than pleasant, and it’s hard not to worry about what the upcoming year holds. Do you think, like so many people I talk to, that the US economy is improving, or do you believe the worst is yet to come? If you’re one of those who believes the worst is yet to come, what are you doing to protect yourself from the US economic downturn?