This week experienced some substantial ups and downs in the financial world leaving many people questioning if we are headed back into a global recession. While it may seem as though we never recovered, according to economists, the last recession which began in 2006 ended approximately two years ago. The steady but slow recovery process has been met with constant questions and setbacks.
This week the stock market plunged. Although it was up on Friday, the Dow Jones Industrial Average dropped 6% for the week. This represents close to a trillion dollars. In addition, the value of gold took a huge drop today, finishing the week below $1,700 per ounce.
As the week concluded, all eyes have turned to Europe. It is extremely likely Greece is going to default on its debt. While other European nations have done what they can to prop up Greece, the effects of their situation will have shock waves across the globe. In addition Italy and Spain are showing signs of potential problems in the near future.
What do you know about the economy? How do you think a global recession will impact our community and you personally? What should be done to fix the economy? (I need creative and imaginative ideas. Remember there are no bad ideas)
Angie- I hear my parents talk about the economy a lot. They remind me and my sisters to spend less money and get things we only need. The economy's getting worse so I've heard. I'm still confused about the global recession. I think I have an idea of what it is but not a big one. I'm not sure if it'll impact our community and us. It's still confusing me. I can't think of any ways to help the economy. Obama should look back at the depression and see how FDR got the economy up. Oh and maybe we should STOP GOING TO WAL-MART! Our debt to China is bigger than ever! And also gas prices are getting so high! I feel like that's not helping the economy. Sorry I can't think of any good things.
ReplyDeleteAriana-I know that the economy of America is pretty much going down the drain. I know that a lot of people are being carful on how they spend their money. I think that the global recession will impact our community in a big way, because everyone will be on a really tight budget and some communities will struggle exteremely. It will impact people personally because things that they are used to doing wont be as easy do to the econemy. I think that America should stop buying things from China, and that we should make things ourselves and get out of our enormous debt. If we make things our selves, it will get us out of debt, and also drop the unemployment rate.
ReplyDeleteMadison- I know that the economy has to do with money and jobs. Right now the economy in the US is not very good. People are losing their jobs, and our country is going further and further into debt. If we can't get items we need for a price that isn't too expensive, more people will lose money and we will be further in debt. It will impact our future in a big way. If things are expensive for us, it will be difficult to get into a college, or maybe get the job that we would like. More jobs need to be made so everyone has money to keep business' open. Another way we could help fix the economy is buying things from local markets and business'. This way the business will keep going and hopefully hire more employee's.
ReplyDeleteCooper- I know that the economy is causing 9 percent underemployment 45 million are living in poverty. It affects everyone in some way, I see how bad the economy is everyday on Boise street corners. We need Obama care, banks need to start loaning money so America can claim its heritage, free enterprise.
ReplyDeleteSophia- I know that the economy has gone down greatly and that it isn't necessarily improving. The recession has impacted the United States greatly. Unemployment has gone up to 9.1% and many people have been without a job for a long time.
ReplyDeleteIn our community, I think that the recession has, and still will, affect the amount of money the city has and the success of the stores. We should try to support our local stores.
To try to fix this, I think that the government should take more thought in where and how they spend their money and most of all, spend less. This would allow the main engine of the economy, the private business owners and cooperations, to create jobs. If more people had jobs, we could collect more money in taxes and spend it on things that will make our country grow and thrive. If people had jobs, we would also be paying less in unemployment and social services. In the constitution (Article 4) the states created the central government with limited powers. Now it's seems that the federal government is dictating the states - the exact opposite. This leads to a lot of money waste.
If America continues to have a huge amount of debt, I will be paying for the debt all of my adult life. The debt will also slow down our country's growth because we will be paying a lot of money in interest. Therefore, our standard of living will decrease, and we may be surpassed by China or Germany. If we keep spending money, we may end up like Greece.
The stock market supposedly reflects on what is going to happen in the future. What happened last week makes me nervous that our future might be hitting another rough spot. This isn't good since we just recovered from our last one. I hope everyone in the United States is able to get a job and become independent. That's more Christian-like than giving them money and keeping them dependent on others.
josu- I know that the economy is struggling. Since people don't have money they are worrying about pointless things and everyone is getting stressed out and impatient with other people. Now a days people are starting to only care about themselves. To get out of this economy we need to spent government money wisely. We shouldn't spend money on things that we don't absolutely need. A small increase in taxes could also help. It may not seem like the right idea at this time, but in the end we could get out of this recession.
ReplyDeleteLuke- My parents never are quiet when talking about the economy. I also hear a lot about it because my dad is a doctor and Obama thinks health care should be free so my dad always get super mad about that stuff. The economy is really bad now and is still getting worse though. I have no idea what a global recession is but my guess is that it effects others in the community. I think that the banks should stopped loaning money to everyone that asks for it because it is causing problems. We should also stop buying products that arent american made. Also peoples of america should start walking or running or jogging or biking to help save the world and start saving gas!
ReplyDeletePhillip- To be honest, I don’t know anything about the economy. Personally, I wouldn’t really care (I don’t pay attention to that sort of stuff) , and people would reduce spending. Like I said, I don’t know anything about the economy, but MAKE A SPACE SHIP FLY TO MARS, ROB ALL OF THEM AND USE THEIR MONEY ON EARTH!
ReplyDeletePeter- I know a bit about the recession because I have read multiple books/periodicals on the subject. I know that the dollar's value is decreasing and that the national debt is rising. Also, banks are giving out loans to people who can't pay them off and Wall Street employees are coming up with clever ways to make bad insurance look AAA rated. A global recession is a very bad thing for all communities because things become expensive and more people are laid off. To prevent the global recession from getting too much out of hand, we should decrease spending and create more jobs.
ReplyDeleteIsabelle- I know that are economy is really low right now. It was worse a couple of years ago, but we haven't fully recovered from it yet. If we had a global recession it would change alot. It would change how and where people would spend their money. Store owners would have a hard time and all other business owners would have a hard time too. It would affect everything and everyone when it comes to where we spend our money. If there was to be a recession, I personally would have to cut back like all other people. I wouldn't be able to buy new stuff as frequently and I would have to cut back and save my money. To fix the economy, we first need to try to get rid of our country's debt. That would give us a fresh start. Then we should spend wisely and try to keep things under control.
ReplyDeleteRyan- Todays economy is terrible and the price of everything is going up how i know this is that the mountain bike i wanted went up 100$. The economy is terrible and i cant believe that we are having this situation and well we are the most bankrupt country of course. A recession would ruin my days of buying lacrosse things whenever and I'm pretty sure it might ruiin the lives of many people and maybe obama will either stop going on vacations every week or he could just take a permanent vacation and we would maybe had a better economy and maybe a better president. First of all we need to stop spending money on things we don't need like spending money to try and invent laser guns or solar powered cars i mean what happens if you have to drive at night. second of all we need to have obama have some better ideas and maybe not go on so many vacations. I think he would be doing us all a great life saving favor for taking a permanent vacation and not even try running against anyone because everyone pretty much wanted him to be the first black president but they realize how much he has screwed up the united states that he has to take vacations every week to get away from being banned from office.
ReplyDeleteHalle- I don't know much about the economy. I know that they have their ups and downs a lot. I think that the recession will affect our community. Gas prices are going up and it's harder to find. A lot of companies do business throughout the world and that could affect their business. More people can also lose their jobs and more hobos will roam the streets. I don't think it will effect me personally that much, but i will do my best to save money and gas/ I think we should all try to save money, but then again that could cause problems for other businesses because if people are tight on money then they aren't spending as much. The best thing we can do is stay strong and do our best.
ReplyDeleteNerea-I dont know much about the economy because i dont follow stuff like this but i do know its garbage. Prices in groccerys,gas and other day exspensives has gone up extremly. When i grow up personly i think it will be better just cause so really im not really to worried. Also i do know alot of people are tight with money and are useing it wisely. As Americans we need to stay strong and stick together.
ReplyDeletegabby- i don't really know much about the economy. i know that it is bad, i also that the prices of things are going up greatly. another thing would be that i know that the economy downturn started or ended in 2006. i guess i am hoping that people fix it now so that when my generation grows up we do not have this huge problem. but i do not think it will work like that so i think i should probably try to learn something about the economy, but i really no almost nothing. i think that we should be affected by the global recession because we are part of the globe, right? i would imagine that the united states would have trouble running everything completely by ourselves. as for the ideas to fix the economy, i don't have one i think that i would need to know a little more about the economy in general.
ReplyDeleteBrooke~ I really don't know much about the economy at all. I know that it has to do with money and peoples' jobs but thats about it. To help the economy I guess we could stop buying so many things made in China and other places. Also, I think that somehow we need to find more job spots for educated people.
ReplyDeleteDanielle- I don't know much about the economy actually. I know that it going down and people are losing there jobs.We could just hope that it will get better! I'm not really sure how global recession will impact us. Ways that the economy could get better is if we stop spending so much of our money. I also think we need more job oppurtunties, u see so many homeless people looking for a job on a street. I think that would help the economy.
ReplyDeleteAnn- all i know about the economy is that we are in a recession, and some people are losing their jobs. i think Global recession will effect us a lot, I'm just not sure how. WE could try to spend less to get our economy back up. We could try to lower our national debt
ReplyDeleteAlly- I don't know much about the economy. I know that right now it is not good, and prices are going up dramatically. I would imagine that Global Recession will effect us a lot. I think it is really going to effect businesses. We need to start trying to spend money wisely to lower debt and raise the economy.
ReplyDeletekaed- i have learned a lot of whats going on with the economy right now because my dad and me and my bro has talked a lot about it since my dad lost his job. we talked about how this could be worse than the great depression. also that people are trying to not waste their money and try to spend it wisely on what they need not what they want. lots of people have lost TONS of jobs because of the economy right now. this is just my opinion but i hope another president wins in the next election because i think most of the economies problem because of the president right now. JUST MY OPINION
ReplyDeleteMarya- I know some things about the economy. Right now we are in a bad position because of unemployment and prices of everything going up. It's really annoying to see all these things going up in price. Gas, food, health care, pretty much everything. I think some people waste their money on stuff they don't even need. I'm 13 I dont need to go out and buy toys and crafts. Obama isnt helping at all. That's my opinion.I think we can start riding bikes more. That will get rid of stupid gas prices and help us get in shape. then we wouldnt be overweight. bonus!!
ReplyDeleteJACK- P.S. PHILLIP THAT WOULDN'T WORK. ALIEN MONEY IS DIFFERENT FROM OUR MONEY. THE ECONOMY HAS BEEN THE BIGGEST ISSUE OF OUR COUNTRY FOR YEARS NOW,AND RIGHT NOW IT IS NOT GETTING BETTER. THE UNEMPLOYMENT RATE IS HUGE RIGHT NOW AND GAS PRICES ARE WAY UP. THERE IS A BIG THING THAT WE SHOULD CHANGE ABOUT OUR COUNTRY, AND THEAT IS HEALTH CARE. I THINK THAT EVERYONE SHOULD GET THE SAME HEALTH CARE AND THAT IT SHOULD BE FREE. IF A POOR PERSON WAS INJURED AND NEEDED A SPECIALIST THAT WAS ONLY AVALABLE WITH HEALTH CARE, THEN THAT PERSON WOULD NOT GET THEIR NEEDS MET. THAT IS NOT FAIR. I THINK THAT WOULD GET THE ECONOMY BETTER, NOT GETTING SPACE SHIPS AND ROBBING ALIENS (PHILLIP).
ReplyDeleteAbby- What I know about the economy is that it is not doing so well. It has caused many people to lose their jobs and have made prices go up. If there is a global recession then we will all have to cut back and not spend money on what we want but only what we need. To fix the economy I think we should stop getting all of our stuff imported from other countries like China. If America started to make everything ourselves them it will create more jobs and we will be be right back on track!
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ReplyDeleteAtticus- I some what understand the economy and i understand that it is having some problems. It makes sence to me because my family is fealing it, we have been trying to make an improvement and trying to buy a boat but we havent been able to because of the economy. I think that the number of jobs avable will have yet another downturn and much more. I dont know if it will efect me much. To fix this I think that we shouldnt be sending Obama's wife to africa to spend about a trillion dollars on colths and people should start saving more money.
ReplyDeleteBrooke~ I really dont know a lot about the economy but i know that it is doing pretty poorly right now, and people are losing their jobs all the time. I think that we should definitly start buying american made things instead of always from different countries. Also, as a lot of people have said, lets try to spend our money more wisely. Sometimes, I tend to buy a lot of unneccasary stuff but now that I know a little more about the economy i think i willl think more before i buy things.
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