I think Glenn Beck said it best with the phrase, “America’s economy is a 747 with both engines on fire, flying over the Atlantic, waiting for somewhere to crash.”
Whether you pay much attention to what is going on in today’s American society or not, you undoubtedly have heard about financial crisis that is sweeping the nation. It is evident that the American economy is going through a rough time. Stocks are up and down, people are losing money and our economy is growing more in debt with every passing day.
It is predicted that we are on the verge of another Great Depression. In fact, just a few short weeks ago we were on the edge of an economic break down. My friends, this is a very scary thought.
Therefore, like me, you might be wondering exactly what the government or we might possibly do to pull ourselves from this slump. Better yet, what you can do to save yourself from being hurt by the downfall of stocks.
Unlike our previous economic depression, we do not have the industry or power to help us pull from such a slump. In the ’30s, we had a great American industry, producing goods and services. This equaled more jobs and cheaper goods for American citizens. Today, the majority of America’s goods and services are imported from other nations. Because of this, the nation is severely in debt, which adds more to our debunked economy.
Also, helping us previously was power and energy, or gas and fuel. During our first depression, only 15-20% of our oil was from other countries. Today, an astounding 80% of oil is brought into America from other countries. This huge number adds to dependency on foreign oil, thus bringing us more into debt with the outrageous amount of money used to buy this oil.
So on to the big question: how to fix the problem?
To counteract the problem with power and industry, it all lies within the government. The government needs to relinquish our dependency on foreign oil by allowing oil companies to drill on American soil for more oil. They need to find safe alternatives to fuel with wind and sun energy. When dealing with industry, the government has to allow more industries to open up to produce goods and services. This would eliminate a reliance on foreign goods and create job opportunities.
As for yourselves, there isn’t much you can do to be an agent of change. My advice is to stay away from stocks. They are bad. Also, pay attention to the presidential election coming soon. Know the candidates, what they stand for and how they plan on making the changes needed to help our economy. Rock the vote.