Premium Essay

What Is Really Happening in Our Economy

In: Business and Management

Submitted By kwood610
Words 907
Pages 4
Macroeconomics 11/30/2010
What is Really Happening in Our Economy?

Before getting into what I think is the root of the problem, I’d like to give a little insight into some of the opinions of my family members. Every night, my family sits down at the dinner table to eat together. Sometimes I miss out on this because I work nights, but I always have at least one night of the week home. I raised the question, “what do you think is going on in our economy?” and received a variety of responses. I started first with my 11 year old sister, who comically replied “I think that the inflation will cause everyone in the country to form an angry mob”. For an 11 year old, I’d say her assessment is pretty spot on.
Next my father, a 47 year old scientist, furrowed his brow a little and then responded by saying “I think the housing market is the problem.” Because unemployment and underemployment are so high, it is becoming increasingly difficult for a larger percentage of people to buy homes. More people are living with their parents well into their twenties, since, to put it quite simply: “the rent is too damn high”. With home sales at an all-time low, new housing construction is at a standstill. This negatively affects all the people that work in the housing industry. On top of that, home foreclosure is at an all-time high. All of these factors combined are causing the collapse of the housing market. I then referred the question to my other sister, who is 17 and a senior in high school. She shrugged her shoulders and replied “I’m not sure what’s going on, but I can’t find a job”. She hasn’t gotten her first job yet, and just got her full license. This is frustrating because without a job, she cannot afford a car. With the unemployment and underemployment rates remaining high and stagnant, it is harder than ever for teens to find their first...

Similar Documents

Premium Essay

Gilded Age

...developing of the United States of America to become the place that now we know, during this period the economy growth thanks to the combination of certain factors such as the appearance of great businessman who built the corporations that were the bases of the economy and a huge improvement in the technology. This historic moment set the path to became into the society that now we are. The assembly line together with the mass production and was established during this time. It also was a time of corruption one of the most important things that this time gave to the world is the institution of monopolies. Henry Demarest wrote an article called “wealth against commonwealth” in 1894 This article was written with the intention of showing what was really happening in the world of the monopolies during the gilded age. The author probably was motivated by what he was watching; the inequality between the rich and the poor, too many were poor and just a few were extremely rich. He described the wealth as some kind of infection, He thought that we were losing the liberty that we earned by falling into corruption trying to be wealth. Demarest mentioned that many rules were established to avoid the acts of corruption by the monopolies leaders, but they had not too much success an all remained the same. According to henry Demarest who said “if our civilization is destroyed , it will not be by, barbarians from below” (50) to refer that these......

Words: 1504 - Pages: 7

Premium Essay

Demographical Information Regarding the Elderly

...there are many problems that are causing the population of the United States to look back and ask, where did we go wrong? When we think about it all though there really isn’t too much that anyone did wrong, the problem is the number of elderly people that are soon going to be on Medicare and any other state funded programs. There is no one to blame for this though, unless you want to blame doctors and specialists for keeping mom and dad or grandma and grandpa alive longer so that we can enjoy their presence. Elderly people and the demographical changes that are happening. Choosing elderly people as my topic was not an easy choice because there are so many other things that are affecting everything demographically. I chose the elderly people because they are going to be the ones that are going to need the most help financially over the next few years. The people that are over the age of 65 are the largest population in today’s society. Every day in the United States there is at least 6,000 American people that will turn 65 years old there is also 3,800 Americans that will turn 85. The number of elderly persons in the United States is growing at such a dramatic rate that the future of the social security department and the healthcare environments is looking at some very rough times financially. The people that are really looking at hard times are the elderly themselves, how do you think they feel knowing that in 10 years they may not receive that right healthcare coverage......

Words: 1585 - Pages: 7

Free Essay

College or Costllege?

...Gordon. WSC 001 11/17/2014 College Or Costllege? What do you think should raise more, inflation or college tuition? History has shown that the cost to study in US colleges raises faster than the US inflation (Lorin). Why is this happening? Or even worse, why would the system support such incongruence? This could be because the high education level offered requires such high prices, or maybe, it is a way to improve the economy by teaching society that there is no better investment than education. Anyway, let’s try to discover the answer by delving in these two different aspects that, in fact, are the main reasons of education on society: To support the learning and improve the economy. Thinking and researching about our first point we find that it is fact that European academies have an excellent academic system, and we also find that Germany is offering free education to Americans and other international students without requiring “scholarships” (“German Colleges”). Perhaps the US education is perfect, and so, even better that German education? According to Paulo Freire, that is not the answer either. In Paulo Freire’s essay, he describes an important weakness in the American academic system. Freire refers to the “Banking Concept” as a symbolism of what is really happening between some students and professors. Students are described as a bank account to deposit information. As students never think critically about what is learned, they just assimilate. As said by......

Words: 994 - Pages: 4

Premium Essay

Sc300 Unit 6 Paper

...component of your meal originate? List the country that each part of your meal came from. (i.e., Did that glass of red wine come from Australia? Is the cheese from France?) All of my food came from the United States for over different regions. The roast actually came from one of our own cows that we had on the farm. The potatoes came from Idaho, the carrots came from Colorado, the rolls were made from a local bakery, and of course the Busch light was made in St. Louis. Our breakfast meal were from; eggs are from Iowa, the sausage patties from somewhere in the United States, apples came from Washington and the orange juice came from Florida. B. List where you purchased the products from. I do most of my grocery shopping at our local Wal-mart about 10 miles away from our house. The exception is the beef that we get from our own cows that we take in to have processed from out local meat lockers. C. Consider the chain of events that took the product to get from the farm/laboratory to your table. The chain for us to get our beef is for us to take the meat to the processor, they process it, they give a call when it’s done, and we go get it. And then we fill up our freezers. It’s funny because this week I have to go to the butcher and get the meat that we have there. The rolls I get from a...

Words: 1501 - Pages: 7

Premium Essay

Boiled Frog

...gradual evil. According to The Fifth Discipline be Peter M. Senge (2006), this disability gets it name from the obvious, a boiling frog. Senge explains that if you put a frog in boiling hot water, he will react. But if you put him in calm, cool water and gradually turn up the heat the frog will not realize what is happening and by the time the water is boiling, it is to late for the frog to react. (Senge, 2006) In business, this discipline is demonstrated when issues are overlooked or not thoroughly addressed. These issues can slowly grow and start to affect other aspects of the business. Once the business realizes what is happening, the issues have grown, they become very costly to address and in many cases cause the collapse of the business. Another example of this “boiled frog” disability is the economy crisis. In 2004 the economy seemed to be booming but underlying issues existed. These issues were known but not directly addressed. By 2008 the housing market crashed due to overlooked problems. This crash lead to the failure of the financial system and the economy was turned upside down. Today we are still fighting to get out of the “boiling water”. Like the frog, the economy was unaware or indifferent of the dangerous water around it. By the time the water started to boil, we were in too deep. Personally my business has been affected by the “boiled frog” disability. When I started in 2007, the housing market was still in “cool water”. Instead of closely observing the......

Words: 1119 - Pages: 5

Premium Essay

Omnivore's Dilemma

...Homework #1 1. What are the six myths of modern education that Orr identifies in chapter 1? Which of these six myths do you agree with most? Why? Myth one is that ignorance is a solvable problem that is escapable by the human race. Myth two is that enough knowledge and technology can manage planet earth, it can help change the way we do things each day and change the way us humans affect the earth. Myth three is that knowledge about the problem is increasing. Myth four is that higher education can rebuilt the earth, and rebuild the damages that we have caused to the earth. Myth five is we educate children for more success and mobility only; we are not really preparing them for the problems they will be facing in the future. Finally, myth six states that culture is what represents all human achievements. The myth I agree most with would be hat ignorance is a solvable problem. A lot of people have no idea how we can fix the earth and how simple changes in our life can slowly help. The ignorance people just need to be educated on how they can change and what they are doing now, affects the earth. 2. What is Orr’s reasoning for saying, “all education is environmental education?” Orr is saying that all education is environmental education because students today are taught that we are part of the earth and that whatever we do each and everyday, can affect it in the long run. In schools around the world today, there are more economical classes teaching about the......

Words: 763 - Pages: 4

Free Essay

How Did Economists Get It so Wrong Abstract

...problem to why in 2008 the economy fail and we went on a recession. The reason to why he says that it is the economist own fault to why we went on recession was that the economist thought that they had figured out the perfect economy policy due to their research and mathematical formulas that made them think that they had solved the mystery of a perfect non recession economy. So what I mean is that in a way they thought there research and thoughts were bullet proof of recessions and even worse another great depression. Furthermore, in this article Paul goes into deep detail to why economists are the way they are and also if they would ever change their beliefs in the future. However Paul does mention in this article that there are very few economist that did predict that a recession would happen in the future, but due to the fact of hoe cocky economist were with their formula an research that they actually laughed at the these few economist, but at it is said whoever laughs last laughs better. Article Background In this article Paul gives a total description of how we reached our recession in 2008 and he starts giving out details from the history of economy and how the first great depression happened in the 1930’s. Paul explains that since the term economy was created economists have always tried to keep a stable economy throughout history, by creating different policies such as the monetary policy and the fiscal policy to keep an economy afloat. However he also......

Words: 793 - Pages: 4

Premium Essay


...ecotourism movement is not just a leisure activity; it is a vital part of the safety of out society and the natural world. Because of this, those who sponsor ecotourism need your support and patronage. Please provide it to them. The Impact of Ecotourism on Economies Varies The environment is something that too many people take for granted. These people seem to forget that everyone needs the environment to survive. While there are a variety of different organizations that have been formed to promote environmental awareness, the fact is that many people do not choose to listen. However, with global warming and other factors becoming more and more noticeable, people, including the governments of the world, will have to take more notice. Thus, environmental funding by governments is important, and ecotourism has become more popular. If you are interested in ecotourism, perhaps you are also interested in the impact of ecotourism on economies. About the Impact of Ecotourism on Economies The impact of ecotourism on economies varies in accordance with how much money various governments are will to put into the environment. There are various organizations that governments fund, but with the world situation currently what it is, the environment is not taking precedence...

Words: 882 - Pages: 4

Free Essay


...and Crimes The Philippines never had it so well, but with a slowing global economy and an election coming up this year 2016, what can it expect from the future? Does the country can still be able to be at greater heights? Our country has accustomed a private enterprise economy both in policy and in practice. Primarily, its governance intervened through fiscal and monetary policy and in the exercise of its regulatory authority. Remarkably, Philippine economy has been performing creditably since it weathers integration through global and regional economies. Current administration has been working to increase the budgets for different economic sectors such as education, health, cash transfers to the poor through 4Ps, other social spending programs and relies on the private sector through its Public-Private Partnership Program to help fund major infrastructure projects such as the nationwide road widening which still continues until this present time. Philippines has also financial downturns better than its regional peers due to minimal exposure to troubled international securities except from the fact of the rivalry with the neighboring countries about the Spratleys Islands, lower dependence on exports, relatively resilient domestic consumption, a rapidly expanding business process outsourcing industry and most especially the large remittances from millions of overseas Filipino workers (OFW). Moreover, our country has received several credit rating upgrades on its sovereign......

Words: 1098 - Pages: 5

Free Essay


...Humanities Sze Lee Wan HUM/102 – INTRO TO THE HUMANITIES II RENAISSANCE TO THE PRESENT October 26, 11:59PM Humanities are the study of how people process and what they learn from their life experience. It also allow us to study human culture and like what is happening in the history and how all the culture is being past from our ancestors to us. Since human have been born, we have used philosophy, literature, religion, art, music, history and language to understand and improve our world. These methods of expression are the major expression that is being taught under humanities to us. This knowledge of the human experience in the past help to give us the opportunity to feel a sense of connection with the people who came before us and also help us to learn from their mistakes or enjoy what wonderful experience that they have experienced in the past. The Humanities are also essential for understanding the past which is responsible for the creation of what is happening at the present. The humanities are academic disciplines which is use to study the human condition using methods that are analytic, critical, or speculative. On the other hand human inquiry is about studying non-human subjects as well as expression. These two things can’t be study but only experienced in our daily life while we are communicating with each other. It is because when communicating with people they are so many factors that may affect the overall conversation......

Words: 975 - Pages: 4

Free Essay


...conclusion that it shows you a lot of strong points on how Thomas L Friedman thinks about the world. He explains why it all is happening and how the international system is transforming the world affairs. It also shows you all the things that he said in his book that they would come true and some of those things actually did come true. This books helps you understand about how globalization is working and why it is happening. It also shows and tells you how the world reacts to it and what the bad and good thing about globalization. In the first part of the book of the books it explains what the title ‘Lexus’ and ‘’olive tree’’ means. The Lexus stands for half the world emerging from the Cold War and people intent on building a better Lexus, modernizing economies in order to thrive globalization. The olive tree stands for the other half who are still caught up in the fight over who owns which "olive tree." The Lexus stands for the emerging of new things like 300 new Lexus being built everyday and people are moving on from the Cold War. The Olive tree represents our roots, anchors us, and identifies us. The Olive Tree also represents people fighting over who own what. That was the main thing in the beginning because it tells you what the title is all about. After that it goes into more detail about other things about globalization. It asks what a golden straightjacket it the golden straightjacket is an economic group where you need to have some standards to be......

Words: 820 - Pages: 4

Free Essay

To Drill

...misuse of our natural resources. Tapping into these sources have pros and cons. Now in the year 2011 we have serious concerns about our way of living, the planet, the wars. President Obama has pushed forward his agenda to free America from dependency on foreign oil and proposes that this will enhance America the great in many ways included the growth of new work opportunities. It is absolutely true that for any transformation we must see a wide spread revolution. Is the revolution part we all fear as it is a testing and difficult time we all must go through to be able to succeed in the end. We all know the energy we consume today is not renewable energy not to mention that the energy we consume causes many deaths via the current war. Today, we can see all of these changes happening from buying a Hybrid car to buildings powered by the solar system. We can see issues of other societies such as Spain trying to go green but have not been successful. The difference is that America has a democratic open to all politics as we work together collectively towards a successful self sustainable community. For some of us we making these changes can be a costly inconvenience but we must realize that we are investing in the future of our land for our children and our grandchildren. Historically investing in the future as proven a gigantic gamble or seemingly a hinder to the immediate future such as the great depression period but what......

Words: 601 - Pages: 3

Free Essay


...representatives in power and create a democracy where they get fair say 2. What are the major parties running for the election? The Liberal Party, Conservative Party of Canada and New Democratic Party are the major parties running for the election. 3. Who are their leaders? Conservative: Hudak, Liberal: Wynne NDP: Horwath. 4. In one paragraph describe each party’s platform. The Liberal Party Platform deals with the topics of: equality of opportunity, true fiscal responsibility, clean environment, affordable access to postsecondary education, universal public health care, open, fair and strong democratic representation and evidence based crime policy. They believe and stand by the idea: when people and families are given the chance to succeed the economy will grow and Canadians become stronger which through equality of opportunity is important, turning deficits into surplus and making the economy flourish while creating good jobs across the country, becoming a clean energy economy, Canadians deserve affordable education, every Canadian deserves equal level of high quality and timely health care by an adequate and sustainable health system, exploring Parliamentary and Electoral reform in order to influence the institution with democratic principles to make a more meaningful and effective representation, and addressing the root causes of crimes and trying to keep our community safe. Stephen Harper, the leader of the Conservative Party created his......

Words: 1167 - Pages: 5

Premium Essay

The Roaring 1920èS

...advancements in various fields ranging from the technology to the economy. The 1920’s brought the biggest changes to women from their clothing, to their hairstyle, to their style of living. It also made tremendous changes to the entertainment industry as Jazz became the popular music choice and talkie films really caught people's attentions. The stock market was at an all time high, it was all great and that it all came crashing down as the 1920’s ended as a great disaster. The 1920’s are an important part of our modern day reality as they have taught a lesson and a legacy that after an all time high, there is an all time low. There are many legacies of the 1920’s but the one I would like to focus on is about the advances in the field of technology. The 1920’s invented many different types of technologies but the one which is remembered the most is the wireless radio. The wireless radio was a great source of communication as it provided the people with news, entertainment, information about events etc. The advancements in the field of transportation was also great as new ways of transportation were getting common, people were using the air and water transportation for mails as well. As, the great invention of the first airmail flight took place in the 1920’s. These inventions also created room for recreational activities in the air and water. The 1920’s also taught us lessons and how those lessons can impact our modern day society. An example of lthe lesson they taught us is......

Words: 557 - Pages: 3

Free Essay


...away from hackers having your information can not be seen collact data such as valueble information popup keyloggers And the list just goes on and on, over all its a bad idea to have spyware but we need it too because it helps us identify if we got hacked through cookies and yet cookies are bad too. Technology is growing and some stuff we can not control but we can prevent from it getting out of hand. Referrence Case 2-2 The definition of social engineering is a way that people can trick others to give out the information with out them understanding whats really happening. Its also called a “con game”, because even con-men do social engineering although they do it for money or even homeless people do social engineering because they have to...

Words: 723 - Pages: 3