Economics 101 - Global Perspective

You've been buying gold right? Paying down debt? Investing in oil or other commodities? I hope so.

For some people here in Fillmore, this recession is going to be tough to get through. We've heard from folks at El Dorado, Parkview Senior Apartments and others that it's getting really tight. In our neighborhood, two families have walked from their mortgages leaving the bank holding a property that loses value daily. Our homeowners association dues are seeing record delinquencies.

You've heard about the $300 check you're going to get from the government. Some people may use it to pay their sewer bills, others might go enjoy an evening out. Whatever you spend it on, you may also wonder what the heck happened. Isn't our economy doing great? Haven't you read that in the papers?

Here is an interesting interview from a global perspective. You won't get this perspective from the local news. When I travel, I enjoy watching CNN International news rather than CNN US. Here our news is about Britney Spears and other celebrities. I guess our culture isn't ready for real news. Enjoy...