Taking a look at this morning’s headlines:

US home foreclosures  are up 57%

Oil  is at a record high of $112.

Corn & Rice futures are at record levels trading in Chicago.

Now I don’t want to sound like Mr. Negative and scare you, but things aren’t exactly looking too good for the US Economy. The US Dollar stinks, interest rates are low (this is good for people with loans, but foreign investors like high interest rates), and commodity prices are rising.

The most important thing that people should now be paying attention to are JOBS.

As long as Americans are employed, they will be able to deal with these rising prices. Sacrafices will be made, Johnny might buy a Civic instead of a Hummer, Sue will abandon her trip to Europe and go see the Grand Canyon instead. People will struggle, but survive without much effort.

If jobs disappear, prepare for something that hasn’t been seen in a generation. People’s lives will change, materially. Well known business names will go bankrupt, people will stop spending, things will be bleak. Normally, this is where a government would step in with social programs and spending to boost the economy and try to help make lives better. The question will be, with current spending and taxation, where would that money come from? And at what cost to future generations?