The United States official government numbers indicate that the country is not in a recession but for many Americans, it still feels like they are.
Gasoline prices are soaring at astronomical levels.
Milk, bread, eggs have also seen shoot ups in price.
The cost of rice has nearly doubled in some areas and warehouse stores like Costco have limited the amount of rice any consumer can purchase.
All of those items with the crashing housing market, a credit crunch, and an overall grim employment world is really pinching the wallets of most Americans.
But the worst is yet to come say many analysts who have looked at the situation.
They suggest that the Asian economies are producing the majority of products that are consumed in America and that at one point, they will choose to consume their own products.
Once those economies find it much easier to consume the goods they produce instead of shipping it to the United States, the price of all goods in America will skyrocket.
Analysts say that clothing, furniture, other household goods should see a shoot-up in price.
Then job losses will occur in a large number of sectors.
The US exports market will improve with a weakening dollar but can no way compare to that of Asia.
Even food can be produced locally but because global demand and the global currencies will be stronger than that in the United States, they will choose to export.
With gasoline prices approaching $150 a barrel, Americans are going to need to start saving, consuming less, and be modest.