Has the state of the US economy directly affected you?

It's no secret that the state of the American economy is in shambles. There hasn't been this much uncertainty and lack of confidence on Wall Street amongst global investors and the general public since "Black Monday" in 1987, or dare I say the infamous crash of 1929. There are a host of companies who we once thought of as financial pillars - Merrill Lynch, AIG, Freddie Mac, Fannie Mae, and Lehman Brothers to name a few. However, recent events have proven that no one is immune to collapse and economical despair. To make matters worse, ongoing political and environmental issues are just as turbulent and volatile, and are adding to the series of unfortunate events. The race for the Presidency is a dead heat thanks to John McCain's controversial running mate, Sarah Palin. Texans are cleaning up from the devastation caused by hurricane Ike, while the rest of the country is feeling the waves of the oil production disturbance in the Gulf of Mexico.

So what does all this mean to you? Well, for some there is good news and for others there is bad news. The good news is, if you're financially stable and have some disposable income, now has never been a better time to make that large purchase. The big three from Detroit are offering major incentives to push vehicles out their showroom doors in order to their factories running in the black. You can take advantage of the troubled housing market as the supply far exceeds the demand, thus making it a buyers market. This economy needs a boost and now is as good a time as any.

Now to the flip side of that coin. Many argue that we're in the turn of a North American recession. It's safe to say that tourism is down in many North American cities and destinations thanks largely to the high price of airfare. Looking to go on a vacation, probably best to find a more local hotspot. Never mind the cost of gas, your trips to the grocery store just became a bit more expensive, thanks to soaring fuel prices and the cost to move inventory. What about your personal financial portfolio? Right now, that nest egg you built for yourself is more vulnerable then ever.

Take a look at the links below to find out more about how the current US economy is affecting your everyday life.

http://www.news1130.com/news/topstory/article.jsp?content=20080916_173343_42704

http://tips.blogs.cnn.com/2008/09/16/the-sky-is-falling/

http://www.ecommerce-journal.com/articles/how_will_recession_of_us_economy_affect_gold_prices

http://www.financialpost.com/story.html?id=755881