Some Perspective
"It's a recession when your neighbor loses his job: it's a depression when you lose yours."
- Harry S. Truman
The United States hasn't had a depression since before World War II. The last depression was from May 1937 to June 1938, when the gross domestic product (GDP) declined by 18.2 percent. During our latest recession, GDP has declined by 3.4 percent. Perspective helps right now, doesn't it? Losing our heads doesn't help, though of course we must act smartly right now. We must pay our bills, and we shouldn't shop 'til we drop.
TODAY I WILL MAKE SURE ALL MY PURCHASES ARE NEEDS, NOT MERELY WANTS.