I know the economy is bad. Sales dropped to nothing after three strong weeks at the end of June and into July. But just how bad is it? If true inflation were ever counted, we might as all just stop paying our bills and just dig a hole and climb in. More about that in another post.
Discount Leather Mart is located in Stanislaus County California. We are bordered to the North by San Joaquin County, Merced County to the South, the greater San Francisco Bay Area to the West, and Sierra Nevada Mountain communities to the East. Here are some stats from the Newspaper today: Modesto Bee http://www.modbee.com/business/story/43133.html
Stanislaus County: 1 in 30 homes with a mortgage is in forclosure (33%)
San Joaquin County: 1 in 27 homes with a mortgage is in forclosure (37%)
Merced County: 1 in 31 homes with a mortgage is in forclosure (32%)
So is the subprime lending market meltdown hitting our economy hard? You bet. It was bad enough with $3.50 gallon gas, but now, just getting to work and back is costing everyone plenty. And if you haven't got any cash left over after your commute, do you really need a new motorcycle helmet to sit in your living room and watch TV? That is...assuming you have a living room and a TV and aren't just living under the bridge down by the river.
Wednesday, August 15, 2007
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1 comments:
Yeah, I've heard from people in the mortgage and stock markets that it is likely to get rougher. Unfortunately if the general public gets wind things can snow ball downward as people panic.
Consumers still have to buy products to live so the economy won't crash completely.
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