Just in time for the holiday season, the doom and gloom is everywhere. Check out the not-so-subtle beginning to today's USA Today article about the "domino effect" of the housing market slump:
"If you haven't yet felt the impact of the nation's credit crisis, just wait. Chances are, you won't have to wait long."
Yikes. A little different than waiting for Santa's annual sojourn. Kind of makes you wonder if St. Nick will show up at all (hope he doesn't have an ARM on the North Pole estate). As we reported in Friday's story about Black Friday shopping, retailers are nervous about gas prices, energy costs and housing woes contributing to some penny-pinching this December. Apparently, about a third of people plan to spend less money this holiday than previous years.
It's getting harder to borrow money, and as the Star reports today, our credit cards could be the next thing to feel the effects of the "crisis." That translates to higher interest rates and more deliquent payments.
Is the bad news overstated? Or are you feeling the crunch? It's tough to feel too optimistic. In all the economy-related news coverage, the R-word getting mentioned with more frequency. Happy Holidays?!