During the final week of April 2009, 631,000 new claims for unemployment insurance were filed in the United States. The good news is that that is actually a decrease from the prior week. But if more than 600,000 people are being put on the street every week, that’s almost 2 ½ million people per month or close to 30 million people per year. These are serious numbers, and represent one of the largest threats to American economy since the Great Depression of the 1930s.
Economists see four possible scenarios playing out for the recession. The most rosy of the four is a quick rebound which will have everything back to normal by the end of 2009, but which just about everybody agrees is not going to happen. At the other end of the spectrum, there is the potential of a global depression equal or greater than the one of the 30s, featuring double-digit unemployment for the foreseeable future. We’re not there yet, and most economists believe that it won’t get that bad.
The other two options both include a recovery but one much slower than the other. Under the most likely of these other scenarios, it will take years – anywhere from 5 to 10 – for everything to get back to pre-recessionary levels. People will continue to lose their jobs but less rapidly than is currently happening. Disposable income will slowly creep back, and the economy will begin to expand albeit at a very measured pace.
The bottom line is that the financial landscape has changed dramatically and it does not appear likely that positive improvements will happen anytime soon. For this reason, many people are beginning to realize that their financial future is their own responsibility. These people will not be bailed out by the government, and do not have the luxuries of tapping into endless reserves of cash, primarily because their investment portfolios of their retirement funds have been completely gutted.
Many of these people are looking online not only to create an income, but to build a secure and stable, long-term financial future. They are starting home-based Internet marketing businesses that enable them to generate a lucrative and limitless income from the comfort of their own home. Internet marketing businesses tend to be recession proof, and provide the online entrepreneur with total flexibility over schedule, pay, and most importantly the future.
The economy is bad, still getting worse, and does not appear that it will reverse this trend anytime soon. If you are concerned about your financial future, consider launching an Internet marketing business from the comfort of your own home. It might be the best decision that you ever make, create wealth from home.
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