We are hurting to but not as bad it seems, Starbucks are closing 61 outlets here but the others are hanging in. People now have no disposable income left over for the luxuries they normally enjoy so the belts have tightened and the restaurants and take outs are the first to feel this effect.
For us it is going to get worse before things get better, our mortgage rates are now almost 10%, The weak US dollar has contributed to the fuel hikes which the oil companies love [BP is reporting a $9.8 billion profit for the last quarter] and I guess Texaco is doing better than that.
Our past alliance with China and now India has saved us with their insatiable demand for iron ore, coal and gas. We bring in thousands of skilled workers now to try and keep up and this reverberates all the way down to people like Mc'D's and KFC who now recruit workers from the Philippines.
I read this morning that your GDP growth has slowed to 1.9%, that's not good when you consider China is predicting theirs to slow to 10.8% this year.
You could always jump ship and come join us ----- [Conditions apply]