Or worse.

Ask the grandparents - those old enough with grandparents old enough.  Many living Americans who experienced the Great Depression first hand can tell you this economy is not that bad.

But - many will agree - this is likely the toughest economy since.  This recession should be the worst we will experience - for most of our lifetimes.

Good.  Enough is enough.

This turn feels as bad or worse than the high inflation and stagnant years of the 1970s - leading to 1980.  Those years seemed to stay stuck in a sad era of Stagflation - a bad economy made worse with high inflation.  Usually those two uglies don’t show up together.

New unemployment and inflation numbers tell the story.  Sort of.  Those indexes are way up in recent months.  Yet both feel worse than they even report.

Post 9/11 - year in year out - 40% of new jobs created in this country were in real estate related work.  Real estate agents, mortgage originators, title closers, home inspectors, appraisers, contractors.  All these fields are suffering huge losses now in numbers - transactions - volume and size.  And yet, they do not show up in the unemployment statistics - because the “out of work” home inspector - for example - does not file unemployment.

They do file bankruptcy and that’s a lot harder to navigate now than it was before the Bankruptcy Reform Act.  Watch those numbers continue to rise.

Some say foreclosure statistics are peaking.  I say this - don’t believe we’re halfway through this as the effects ripple past those who were wiped out early to the middle class who is having a hard time holding the line.  Watch for the coming wave of Option Arms on the largest home loans that haven’t hit in mass yet. 

As far as professions that will do well right now - unfortunately - divorce attorneys should be far busier than usual with the stress from violent markets and a bad economy.

There’s no silver lining there.  Its impossible for real estate professionals or anyone else looking for work to get into legal work quickly to handle the onslaught of foreclosure, bankruptcy and divorce cases.  A law degree can take years and cost tens of thousands of dollars.

Inflation statistics are calculated without adding fuel and food numbers in the mix.  That’s where so many are feeling pain on the front line - at the pump and the grocery store.  That’s why, for many, this feels as bad or worse than anything.

In 1980 - twenty college aged men - “kids” - made Olympic history with the Gold Medal at the Games in Lake Placid, New York.

For the country - it was more than a hockey game.  Go rent the movie “Miracle”.  See if you agree - it feels like the same stuck spot now as then - many parents and grandparents say worse.

Good movie.  True Story.  Great ending.

So many could use a ”Miracle”.  Fact is - it will always come in a surprising way.  

“Miracles” are MADE and they do happen.  Everyday.  Even - especially - in the toughest times.

Don’t be a sucker.  Never be desperate.  Herb Brooks made his “Miracle”.  He knew what to do to shock the world and was willing to do it.

Today - as always - people are willing to do the work - just don’t know how.  I understand that.  It is what I teach.

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