How does recession affect American people?

Question

Also, when will it be over?

Answer 1

The recession affects us with

high grocery bills, homes are

foreclosed on, less money

in our pockets, and it pushes

us to make informed decisions.

The informed decisions are

how/where will we spend

the money we have.

Look at my business blog.    

Answer 2

It's like a cycle. People have less money to spend since everything is going up. Consequently, businesses  don't make profits since they have less customers and therefore they get rid of employees, which as a result increases unemployment rates, and causes more people to lose their homes and other properties.

There is no telling how soon it will be over. The high price of oil is already causing a domino effect. I predicted this recession after hurricane Katrina's devastation.  

Answer 3

Smart ones stop spending and start saving where ever they can.  It affects their disposable income particularly when wages remain stagnant while other prices for gas, utilities, water, and food increase.  When it will be over depends on who you believe and listen to.  Data released for my area (SoCal) initially predicted second quarter of 2009 and just last week they extended it through 2010 based on our economic conditions.