How has the crisis affected the common man?

Most newspapers have written extensively about the financial crises of major corporations in the US. Does that matter to us? If we look from a micro perspective, our situation isn’t that different from these global honchos. On one hand, the overall costs are increasing thanks to the spiraling inflation. On the other, there is a question mark on the job front with some layoffs, paltry hikes or even slowing down of recruitments. In short, it is better you exercise some prudence with finances; otherwise we may be helplessly staring at our financial meltdown.

That gave the leeway for investors to take heavy loans. But the same logic is not applicable as the labor market is supply dominated now. In times of job uncertainties, it is unrealistic to expect good hikes. So, it makes sense to postpone big ticket purchases.