Failing U.S. economy

With all the politics going on today, people seem to not notice the failing U.S. economy. I'm not going to explain it all but the first sign are the rising house prices. In the Southern California areas, such as Monterey Park and Alhambra, the average house which has 3 bedrooms and 2 bathrooms is near half a million. In other cities such as Rancho Cucamonga or West Covina, the average house is $300,000 to $400,000.

The house prices will cause new houses to go into foreclosure and banks will go bankrupt (hehe banks are bankrupt, get it?). Indymac Bank is an example of this and so is Freddie Mac (not a bank). When all the banks go bankrupt, what will happen to the money? I'm only 14 so I wouldn't know these things.

What is happening is what I call a recession. My uncle's annual income has just decreased, this is a sign. The recession will also cause less jobs, not like the Great Depression type, but some companies will have to fire some employees just to save costs. And with the attention on McCain or Obama, and even Sarah Palin (can you believe it? PALIN!!!), people are ignoring the signs of a coming depression. It's in the air, can you feel it???

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jason