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Perhaps my perception is altered because of my location, but people are starting to really panic about the economy around here. Yes, it was bad before, yes, our retirement funds were starting to tank, but every single day the news gets worse and worse. The possibility of GM going under is terrifying to us. I heard a stat today that if GM goes under, that will mean 2.5 million jobs will be lost around the country (and not just in the auto-industry). The statistic commonly tossed around in Michigan is that for every GM job lost in Michigan, 10 other people lose their jobs as a trickle down (restaurant workers, retail, etc). So yeah, the last week has been pretty horrific for a lot of us.
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