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I live with a banker...I am constantly having conversations about the financial situation, and, yes, it is depressing!
We also were around for the early 80's and, in my opinion, this is much worse because the effects seem to be so far reaching. That said, I do feel the media perpetuates a lot of the doom and gloom. Our feeling is that the situation is very real and can easily go very wrong in a matter of days (if the local plant shuts down, people can't pay their bills, then default on loans, etc) and so that makes the future very hard to "bank" on.
We, as are almost everyone we know, pulling in our spending, erring on the side of caution, preparing for the worst but hoping for the best! Did I mention I will have two kids in college next year?! aagh!
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