Today is the one year anniversary of the 2008 stock market crash. The market dropped a total of 778 points- causing unemployment to go up to 9.8%! As a nation, we are in a crisis and I don't think anyone is prepared for the year to come- It will only get worse before it gets better according to economists today. People are finding it much more difficult to find work and are taking anything they can get. I personally don't feel that affected by it, but I know I am. Little things, like the price on bread and milk stay pretty much the same: people are consuming that just as much as ever, But other things such as housing prices, car insurance, all those less stable, "extra" things are just getting worse. You cant get a loan, you can't get a house, you cant even get a job. I of course, am no expert but I do know that we need to raise the value of our dollar, especially in Europe. We live in one of the wealthiest nations in the world, yet we owe so much money!
I'm hoping the market will be back to normal by at least 2012, which I think is long, but realistic unfortunately. This really frustrates me because it seems like our nation can't fix anything! We continue to spend money that we don't have. If we could work on getting out of debt, then we could really start fixing our problems (which there are many of ).
Reading about Alexander Hamilton, the father of our national debt, as he has been affectionately dubbed, we learn that he created the national debt on purpose, yes, thats right... on purpose. He believed that the more people the government owes money to, the more it would unite the people- the more personal a stake they would have in the success, or failure, of the new republic. Of course it worked, its just that for all his fiscal genius, he didn't think about what it would do to us later.
Oh well, thats too much for me to dwell on right now.
~K.C.
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