John majors government came into office after the downfall of Margret Thatcher, which ultimately created divisions within the party. Not only did the party suffer from the internal conflict but also faced the problems of the recession after the ‘Lawson boom’. In order to stabilise the economy he joined the ERM getting a good deal but ultimately resulting in ‘black Wednesday’ causing Major to raise interest rates to 15%. This was political suicide and he soon lost the support of the press we had once relied so much on to get re-elected in 1992. The housing market also plummeted leading to negative equity, which the majority of the working class could not afford resulting in the repossession of their houses combined with the drastic increase in unemployment Britain was in a mess.
Recession- The recession is an opposite of boom stage. The unemployment increase, most of firms are losing confidence and stops invest or expand. They may change their planning and started to survive. The customers are likely to save money then spend and the percentages of loans are high and may increase. Individuals are losing jobs and the government have to spend more money of benefits.
People struggle determining what the American Dream is. No one can clearly define what the American dream is but can only describe what it means to them. Many say the American Dream is coming to America to have the many opportunities and live their lives in riches. Others demonstrate that the American Dream is being treated fairly and equally, no matter what race, color skin, and family they come from. Those who are blessed enough to be born in a life of wealth and comfortable livelihood may not be able to grasp the meaning of the American Dream, but others who struggle in life and are restrained by the opportunities that did not come their way, tend to understand what the American Dream is.
Few saw this devastation coming. The Mortgage Foreclosure Crisis was arguably the most significant for the economy since the Great Depression. It forced millions to lose everything they have and have to live in lower standards than ever before. Criminal acts have skyrocketed due to desperate Americans having nowhere else to turn to but illegal lifestyles. The Mortgage Foreclosure Crisis has set back our economy and the lifestyle of the average American has changed astonishingly
In “How Class Works,” Wolff points out that class segregation, income inequality, and the trends of industrialization and outsourcing terminate the income growth for middle class Americans and put them in credit crisis (Wolff). Since most of the resources are held by the richest ten present, the rest of the Americans become lacking access to services and goods (Wolff). However, financial shortages seems never decrease people’s demand. Since 1970s, middle class Americans started to rely on credit and mortgages, even though they knew they were unable to pay the money back in time. Failing to make payments in time, growing number of houses face foreclosure, creating homeless citizens and, ironically, empty houses.
Since the begging of the American deficit the American upper class has been constantly gaining ground and earning more and more dollars per capita every year ("Occupy Wall Street"). While on the other hand the middle class has been slowly losing ground on the upper class and the income per capita is slowly decreasing. If the trend continues there will only be an upper powerhouse class and a lower poor class. This angers a large amount of the population. Not only is it just money figures it’s the idea that these middle class students are going to college for several years on a promise that if they get that degree they will be able to live comfortably, and due to the current state of economy this is just not true.
This law suit is still in the process of being fought. It is all too common that the poor or needy is neglected and the wealthy is in the spotlight. Education is something that should be equal for all people and the access to not only an education, but a SUPERIOR education should be obtainable for people of all socio economic statues. As the gap between the rich and poor continues to widen, one can expect for education standards in urban areas to continue to decline. It will become more common for teachers to transfer schools after one semester if education budgets are continued to be cut in the WRONG areas.
English 043 Professor Doreen Kiefer 12/15/13 “The Growing Need of Raising Minimum Wage” Have you ever wonder how many desperate unemployed American citizens there are in the United States seeking for jobs? Well there’re more than eleven million unemployed citizens desperately trying to make a living in this terrible recession. Not only is it affecting our economy but our businesses, and families as well. Even before the recession, our economy was rapidly shifting, with fewer and fewer middle class jobs and opportunities, with fewer and fewer middle class families, which has led to a low growing, low-wage workforce. As of the end of 2011, the United States needed to create roughly 10 million jobs to return to the pre-recession unemployment
Should the minimum age be raised? One very important controversy most people all over the world are dealing with involves money. There never seems to be enough of it. Minimum wage in the United States is approaching an all-time low. Some believe that raising the minimum wage would hurt people by making it harder to find jobs, when it actually will create more job opportunities for Americans.
The Dirty Little Secret: Poverty In America Jane A. Easter The current reality in the United States of America is that the level of disparity between classes is growing and not in a good way. The small portion of the rich are getting richer and the number of poor is increasing creating a larger gap between the previous middle class and the lower class. The other reality is that it is a “don’t ask, don’t tell” society. Though studies, census data and other overwhelming proof is all around us, it is one of the least talked about issues. The classes by race and gender continue to have disparate realities across the country.