CLARKONOMICS: We're in the midst of a very unusual economic cycle and Clark has 3 examples to illustrate just how strange things have gotten.

First, our recent cycle of deflation -- where prices go down instead of up -- means senior citizens won't be getting their usual cost of living adjustments in their Social Security checks for 2010 and possibly 2011, according to AARP.

This year, the increase had been just under 6%. Now it's going to zero. That will likely pinch the elderly because they buy more health services than anyone else.

Second, Clark now admits that his longtime recommendation of Series I saving bonds did not account for deflation. I bonds offer a fixed rate of interest for as long as you own them, plus a floating rate based on the rate of inflation. Rates are reset every 6 months.

Now that we're experiencing deflation for the first time since 1955, the rate of interest has been zeroed out.

Clark stresses this new development does not mean you should dump your I bonds. Continue to hold them the full 30 years of their term. The best thing to do is to ride out this 6-month anomaly of zero interest until the rate resets again.

Finally, wages are either holding steady or even going down at a large number of employers. In addition, reduced hours and furloughs equal lower wages. A recent Washington Post-ABC News poll showed more than one-third of respondents say hours have been cut for workers in their household.

So what does it all mean? Simple -- we are in a time when many people are having to make due with less. That can mean eating at home more often or skipping a trip to the movies. But it's a lifestyle adjustment, not a lifestyle disaster, for many of us. The number of food stamps recipients show that it's only about 10% of Americans who are really in a state of desperation. The rest of us just have to be more careful with a dollar.