Call me Chicken Soup.  No…Chicken George.  No, wait….Chicken Little.  Yes, Chicken Little.  Just don’t call me Chicken.

Yes, I’ve been yelling ‘the sky is falling’ for the past 4 years.  As I watched:

• the prices of home inflate beyond reason (including my own),
• consumer AND government debt soar to record levels,
• bankruptcy soar to record rates,
• the government (e.g. Alan Greenspan, George W. Bush) prop up this 3-legged dog of an economy with federal rates, taxes incentives and stimulus packages,

I’ve told everyone within ear shot to get their houses in order.  Why?  Because, as I’ve said, economic growth on the back of debt is not sustainable.  Short term boost?  Sure.  Long-term growth?  Say it with me - ‘b-u-b-b-l-e’.

Now, I don’t mind a good bubble now and then.?? I for one have been heeding my own advice and getting my house in order.  Well, until we sold it at market peak 2 summers ago.  Now it’s worth a decent little $40,000 less than we sold it for – ouch.

So, if you haven’t heard me until now or just don’t believe me that we are already in a recession, take note.  Amidst the recent news this weak about the biggest drop in consumer confidence in 16 years, record increases in crude oil/gasoline, et al, comes this bombshell:

“Sales of Spam rise as consumers trim spending – Much-maligned canned meat benefits from ad campaign, weak economy”  (read more)

Friend - people are buying spam to survive.  The sky has fallen.