Individual

Created 1/18/09

Usually, those heading into a period of economic weakness (including severe economic weakness) who have little debt and hold “conservative/safe” assets are in “good shape.” Is this to be the case during this period of economic weakness?

This section will examine the impact this period of economic weakness will have on the individual. This includes a broad array of factors, ranging from what I consider monetary/wealth and “cost of living”-type issues to “standard of living”-type issues that includes the more day-to-day “practical” issues of living the United States.

Many of these “individual” aspects are changing rapidly. For instance, some jobs long considered “safe” from economic weakness are being eliminated. As well, houses have long been considered “safe” assets, but as seen in the drops in various home indices, houses seem to be changing in character from a “safe” asset to what in investment parlance might be considered a “risky” asset. This has profound implications since, for most Americans, their house is their greatest financial asset.

As well, there have already been changes in other exceedingly important factors, of which no one seems aware. That there is no awareness of these factors does not diminish their importance.