The Current Economic State

I have been keeping my eye on the news and how many people have been laid off in the past few weeks. It is staggering. It also doesn't appear to be getting any better. 

This tough economy is bringing about much change. I read about people trying hard to pay down their debt and slough off possessions they no longer need. That is exactly what I am doing but I am not alone! We had a very prosperous economy for some time because people spent excessively and got themselves into debt. I now have many more questions than answers. How are we going to have a prosperous economy again if people keep saving more and spending less? Can America withstand this trend? Was keeping up with the Joneses what made us so economically viable in the first place? 

It will be interesting to see what happens in the near and more far off future. As a nation, we are really about to see what we are made of.