Friday, August 14, 2009

More Money

Probably everyone who doesn't live in a cave in North Korea is sick of hearing about the global financial crisis, and even those who do live in caves in North Korea have been effected by it.
We have certainly felt it here; we have less income from both work and support than we did last year, and more costs. People in our church have been effected by it as well.
But there are some signs this week that this crisis could come to an end sooner than later.

This week Germany and France announced that they have come out of recession.
That's good news for Hungary too, since many of the major employers here are multinational companies from Western Europe. Recession there means less orders in the factories here, less production, and people laid of. Hopefully the end of the recession in Germany and France will mean more work and job opportunities here, so people don't have to leave places like Eger to find work by going abroad or getting sucked into Hungary's 'black hole': Budapest.

Colorado is actually considering lowering the state minimum wage, because prices have gone down as a result of the financial crisis, but some good news is that the housing market is starting to recover. Forbes magazine rated Denver as the 7th best for housing recovery in the US.

This financial crisis is no fun. Hopefully it will be over soon...

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