Saturday, September 20, 2008

Economic Crisis, No Jobs, Panic, Is This the Modern Day Depression?

Well, according to my father, who left his war torn, economic hardship hit homeland, yes-this a depression. You know I always start these blogs off with statements such as -I am not an economist, nor do I claim to be one. So, today's blog will focus on the number one hot topic and issue sickening our nation this week and most likely for months to come. We are faced with a large scale economic crisis that could unfold even worse in the days to come.

Never in my wildest dreams, did I ever think this would be an issue or something we would have to worry about in our modern life. We learned about the Great Depression in our history books, but now we are really living it a modern tone. I pray things don't spiral even further out of control but again my generation is faced with yet another negative factor to our future. Can I retire when its time? Will there be money to fall on from my savings? Will I be able to make enough money to buy a house and maintain the mortgage payments? Is my college degree going to get me a secure job? How will I be able to pay everything?Is there any security on any level for the future? These are the scary questions facing our grim economic future today.

You know in a previous article, I mentioned how my father came to the United States to escape poverty and economic hardship but now seeing how things are unfolding in America, he's begun to show a bit of anger, because he can't believe that the government would let the country take such a negative turn, when its the greatest, most sought after prosperous economy and government in the world. Coming from the perspective of a man who left all that behind in his early 30s has now been forced to face it yet again with his children in their 30s.

It doesnt help we are saturated with the media brainwash- morning,noon and night. What is real and what isn't? Who's reporting the real deal and whos just filling segment times with panic strickened headlines. Look, I'm a member of the media and know it takes one person's decision to fill your tv screen with garbage, so I am super critical of all these news shows and their over-information reporting. As a viewer, you need to be critical too of what your watching, don't get played by the media. Stick to simple, easy to understand and credible news reporting. Never go for the hooplah because it can cause panic.

Its easy to get panicked because there is a lot at stake and the situation is undeniably bad. I'm happy the govt stepped in today with their emergency plans but its just a realistic reminder of history repeating itself during the Great Depression. Lets pray that our country gets back on its feet and we can begin to feel assured that our financial futures are stable and durable again.

To learn more about the history of the Great Depression and actions of the government then read about it here or just Google Search it: http://en.wikipedia.org/wiki/Great_Depression
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