Wednesday, October 8, 2008

How the Economic Crisis Can Be Good For You!

If you lose your job or need your 401k money now the economic crisis is bad for you. Wage growth might slow, but I was thinking about ways the economic crisis might be good for some people.

With an economic slowdown, people will purchase less gasoline, this will and caused the price of gas to go down. In the last 4 months gas prices have fallen about 15%.

There is also evidence, reported by Felix Salmon that the food and commodity price bubble is starting to burst, so food prices could come down.

If you are looking to buy a new car you will be able to find some great deals, as a lot of people are switching to purchasing used cars.

This not to say the overall impact of the crisis will be positive, but its worth noting that economic forces have reactionary forces.

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