According to the experts, economy is the distribution of wealth in a society and the means by which that wealth is produced and consumed. A slumping economy and a slow markets are no longer a distant crisis for Americans, its a reality!
The nation's unemployment level climbed to 4.2 percent in January, the highest in 16 months, as the dramatic slowdown in economic growth forced thousands of layoffs in autos and other manufacturing industries.
If the motor companies file bankruptcy, the economy will be effected negatively. The expert economists says that the automakers will have to close their manufacturing units, and that will lead to job loses of thousands of workers and even the suppliers.
According to National Public Radio, two different trends are emerging when it comes to how companies are faring in the current economy. Banks, builders and airlines are getting clobbered by the credit crunch and soaring energy costs. But far flung companies from Boeing to McDonald's are doing well, thanks to growing exports.
Over the past few years, consumers have been the driving force of US economic growth. Now, with weakness in the housing market, higher energy prices, tightening credit conditions and general market uncertainty, consumer-led economic growth has slowed considerably.
The American Lawyer reports that some law firms, not ours thank God, are having a tough time recovering any money from the graveyard of busted 2008. The American Academy of Matrimonial Lawyers predicted a rise in divorces and domestic violence as a result of a worsening economy and a recession.
The Baez Law Firm, P.C. is a general practice law firm that is ready to help you during difficult economic times. We handle criminal law, personal injury, family law, business law, consumer law, litigation, bankruptcy law and appeals. We understand that the economy has affected us all, and we are here to help you. That is why we say "We care about your legal needs!"