What is life all about now?

Life for many people used to be about progress; getting on, working hard to get a raise, get promoted, provide for the family, saving for a rainy day, paying off the mortgage, getting a bigger house, a better car etc., etc.

Life has changed! Now it's about survival!

Many of us have started to go backwards. At the very least we have to tighten our belts, plans have to be put on hold, interest on savings (if you haven't already lost the lot!) is now so low it is hardly worth keeping money in the bank.

For those worst hit, there is loss of job, loss of home, loss of dignity, loss of future.

The future for many, only a few months ago, was rosy. Now it is bleak!

There is less opportunity for individuals to make progress to build a life of success and happiness for themselves and their families. Hope is fading. Fear is taking over.

Until recently I thought I was "rich". As a retired person my income relies partly on interest from savings. This is now less than half what it was a few months ago, while the cost of living has increased. Another portion of my income is rent from a second property which has suddenly become more difficult to let unless I reduce the rent.

I also have small private pensions, which I paid into during most of my working life. How safe are they? Can I be sure they will not also be cut or even disappear altogether as a result of the current financial crisis?

I know I am better off than some. I know I am not alone. Many people are worse off and getting deeper into trouble, through no fault of their own.

This recession is depressing. It's hard to see who's to blame or what should be done to get us out of this mess. I wish I knew the answers!