It hasn’t been a good week for the economy—you’ve probably heard. There’s been a steady buzz about deflation, the depressing jobs report, a recent statement issued by the Fed, and something called “The New Normal.”
What’s going on?
The recovery isn’t recovering too well, and economists are worried that the lack of jobs will translate to people spending less, which puts pressure on companies to lower prices.
In other words: Deflation. Deflation is similar, in medical terms, to the economy being in a coma.
What does that mean for you?
What people are talking about now is how to cope if things don’t change, a.k.a. The New Normal. This series of articles and videos on ABC News paints a pretty clear picture.
If credit remains tight, if companies can’t expand, if employment stays in the pits, that means we all have to adjust. Not for this year, but perhaps for three to five years to come.
All we can say is: Now is the time for all women to take charge of their money.