Well, now there is no doubt about the fact that the US, and the world, is enduring an economic downturn. We have been watching financial leaders and politicians deny if long enough, but even they are admitting it now. However, as much as we are all struggling to watch our expenses and keep our savings, we do find that some people do ok during a recession, and some people even prosper! What is the difference between those that can barely survive the crisis, and those that make out ok? I think the difference is being, just like a Boy Scout, prepared!

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Remember the American Dream? Wast it just a dream of prosperity and a white picket fence? The American middle class, who bought into it, seem to be vanishing as fast as their mortgages. In 1970, GM was the largest American employer of high school educated people with an average wage of $17.50 an hour. Today, 38 years later, Wal-mart is the nation’s largest employer. Average wage? $9.00 an hour.

Learn more about our money troubles by the Generation Debt author.

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