Things have taken a turn for the worse. In recent months, economic activity has been dropping all over the nation, and that decline appears to be accelerating. We just learned that gross domestic income has now fallen for two quarters in a row, and the Conference Board’s index of leading economic indicators has now been plummeting for 13 consecutive months. Unfortunately, when economic conditions deteriorate it is the people at the low end of the economic pyramid that get hit the hardest.
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