During a recession companies go down, people lose their jobs, goods start to cost more. People do not have much free cash to spend, and more companies go out of business. When you have been made redundant it is difficult to pick yourself up from this, and apply for new jobs only to be turned down time after time, ad hundreds of others are chasing the same job.
Standards of living fall, families struggle. House prices drop. Investments collapse, and we have seen banks and financial institutions collapse too. Savings do not produce much interest, taxes rise, and money is the big worry for nearly everyone.
What can we do to help ourselves?
