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Fear. It is on many American s minds right now. After the Sept. 11 th terrorist attacks many are spending less. They are saving just in case. Jobs are being lost left and right. While businesses lose millions in revenues.
Some say this is going to create a recession that will take years to bounce back from. While others see this as a turning point north bound. However, property values are at a steady stand still. A well-contained inflation is a relief. The market is showing signs of growth or potential growth. Productivity up, gas prices down and a maintaining surplus in the government shows of little concern.
Even though many jobs are lost, many Americans are finding job opportunities elsewhere Americans are afraid of the future and what it is that will come. They are aware of the problem and are readying them selves. By saving their money they can have a feeling of security in an unsecured market. However, this creates another problem. If everyone saves his or her money a liquidity trap is set off. With everyone saving and not spending the economy falls further and further into recession.
All in all, I see no effect on me personally. I haven t cut back on my spending; in fact I am spending more. I recently bought a fairly new car. I still have my same job at Shaw's and see no chance of being laid off.
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