I believe the reason we are in an economic crisis, the reason our growth as a country has tapered off, and the reason so many poor people can’t picture good futures for themselves, as well as their children, is because of inequality in this country (Johnson). We’ve allowed a few very wealthy people to accumulate a massive amount of political and economic power in this country. We have unknowingly built a financial, economic, and political oligarchy here, and until we break from that oligarchy or put it behind us by “reforming the banking system and changing the way finances are organized in this country”, we're not going to have anything that we will feel is appropriate to call a dream (Johnson). Where is the dream for those living on the street and begging for food and spare change? Where is the dream for the child at school with no supplies?
Would they be able to pay their mortgage, car notes, or simply put food on the table? The unemployment rate is one of the most commonly distinguished characteristics of a recession (Juergensmeyer 417-423). In December of 2008, the National Bureau of Economic Research, NBER officially announced the start of the recession in the United States was in December 2007. This announcement
The recession is all over the news, and how it is changing how American’s think, act, and spend today. In a recent article in USA Today, the effect of the recent recession and strained economy is reaching everyone, and reshaping lives. The weak economy is restructuring what people have grown accustomed to in past decades. The dismal economy is having a profound effect on life in the United States; from delaying marriages and divorce to reducing car and home ownership, and private school enrollment (Recession reshapes life in USA, 2011). The recent downturn in the economy is wreaking havoc on the American standard of living and forcing more cutbacks into an already frugal lifestyle.
[ 8 ]. Freiberger, Steven M. "Missed Opportunities: U.S. Diplomatic Failures and the Arab-Israeli Conflict." Project Muse. Johns Hopkins University, 2007.
(Cover story). Chemical Week, 170(40), 20-21. Retrieved February 18, 2009, from Academic Search Premier database. Rebecca Coons describes the obstacles to alternative energy development presented by an economic downturn coupled with low oil prices. Coy, P. (2008, September 15).
These days are considered the most tragic days in the American economy. These days began the “New Era” or a time of low unemployment when general prosperity masked vast disparities in income. John Maynard Keynes said” The extraordinary speculation on Wall Street in past months has driven up the rate of interest to an unprecedented level” Bierman Jr. 1). “There is a warrant for hoping that the deflation of the exaggerated balloon of American stock valves will be for the good of the world” (Bierman 1). It started as the Dow Jones stock dropped twenty three percent on Tuesday October 29th; this resulted in a loss of $8-9 billion