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Alyssa - My Blog


The Great Recession?
Related to country: United States

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There is one big question on the minds of many Americans, are we in a recession? A recession is defined as a decline in a countries gross domestic product or negative economic growth, and is characterized by major unemployment, for two or more quarters of a year.
We are now entering into a three month spell of job losses. There is now a 5.1% unemployment rate in our country which is at an all time high in the past three years, offering the greatest sign that our country is entering into a recession. Some economists do believe that we have begun to enter into this anticipated recession, but others are still skeptical.
But how can they be skeptical when it is staring them straight in the face. It is doubtful that this recent unemployment trend will just end as soon as it has begun. We are in a downward spiral that has not just begun to appear. There is a widening gap between the rich and the poor in our country, not leaving much for the people in between. In 2005, about 70% of the American population found themselves living below the average income. And a large majority of those people also claimed that they lived from “paycheck to paycheck” meaning that they could only pay their bills once they received their paycheck each month.
And what about the American dollar? It’s value has declined in the past few years much because of the huge debt that our country is in. So when is it going to end? Is our economy going to work itself out or are we headed into the next Great Depression of 2008?

April 4, 2008 | 8:19 AM Comments  0 comments

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Translations available in: English (original) | French | Spanish | Italian | German | Portuguese | Swedish | Russian | Dutch | Arabic

Wooooo i'm posting a blog and this site is really confusing me!!

March 14, 2008 | 11:02 AM Comments  1 comments

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