Remember the Housing Collapse and how it affected our broader economy?

[TalkingDog]

Next is the Oil Collapse. Can our economy take this hit?

A friend sent me this from someone who lives in Florida.

When you read this please keep in mind that Panama City Beach is but one of many beach areas along the Emerald Coast of Florida. So multiply it by 10 or a 100.

He said he was talking a lady who manages condo rentals on Panama City Beach.

She said in a normal day, she gets 40 to 50 calls from prospective vacation renters. Today she received ZERO calls to rent! She received quite a few cancellations.

She said she would be going back to the office to lay off her two employees.

She also said another hotel owner was getting cancellations left and right, so they were going to lay off a huge portion of their staff. She told him this was happening all over the beach at all the hotels.

The ripple effect that this will have on the surrounding economy is more like a Tsunami. Thousands of waitresses, clerks, housekeepers, etc will be layed off probably in the next couple days.

The newly unemployed will run out of money quickly because they aren't rich people. If they have credit cards or car payments, they won't be able to make their payments.

The northern beaches of Florida, and all along Alabama and Mississippi, beaches are going to go belly up if they have no guests.