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)
Matea- I know that the economy is not doing so good. People are not getting a lot of money. Some big companies are shutting down. The small companies are not hireing more people. If a global ressesion would happen everything would be like darkness. We wouldn't get anything the same with other countries. It would probaly change me a little like not wasteing some things. Like we don't through away so much food if there was a global resession. To fix the economy we could have more jobs in some areas that is really hot or really cold. So they all dont come near us and get jobs there with a little more pay. Then if there was less people working here, we could raise the amount money that we get.
ReplyDeleteKordell-K-dog- I think are economy is not doing that good. People and companies are getting alot of money. Some small companies are not hiring any people.Some big companies are shutting down and it is not good for our economy.
ReplyDeleteJackie- I know that the economy in the USA was supposed to be getting better, but still I have problems in believing that. I know jobs are very scarce lately and I think that the recession is going to harm everyone. Jobs might start to not pay as much and a lot of people will loose their jobs and if the have a family they might not be able to support them. I know that dads and moms try hard to keep the family going. The economy is such an intricate thing that is so fragile and can be broken down easily, but with the help of the right people they can fix it back up again and that's what I think the world needs to start to do. We need to start working like one world and put our differences aside. If everyone worked hard it could be back in no time, but again there are countries and people who don't want to help and that's what is keeping us behind. I think another way to help would be to at least lower prices so people can actual afford stuff, because most businesses raise the amount on a good because they need the money, but most people can't even afford it. If everyone stopped being so greedy and began to help each other out the economy could get better and we would have a lot better of a world.
ReplyDeleterobert- i know that our economy might be surpassed by mass consumers in asia or europe in the next decade. if a global recession happened.... Oh my god im bleeding and i cant get healthcare cause everyone else is too poor to even pay taxes wich will then support eachother... IM SCREWED! that is what i think.... what should be done to fix our economy... well we should prolly start by not borrowing so much money in loans from the bank for our own private uses and not even paying back which screws us all, cause thats my money and they are taking it! BLASPHEMY! i call shenanagins on that person for taking my hard earned cash.... and it would prolly help if everyone picked up there backpack filled with there un-needed stuff and sold it to help the poor people get an education that will better them in l1f3 s0 unless you want for us to all die pay yo taxes and stop spending them dang loans so often! smiley face ------> :D <----- listen to him he says pay yo taxes
ReplyDeleteNatlaia-I know that the economy hasn't been very good lately. People have lost their jobs and it has been hard for them to find a new one. I think the global recession will hurt everyone. More people will probaly start to loose their jobs and won't be able to provide much for their family. People won't get as much money from their job because the business won't have enough to pay people very much money. To fix the economy we should try to get more job oppertunities. Then, people can provide more for their families. We should also price certain things cheaper so maybe people will start buying more of something and then that company could get more money while people aren't spending very much on groceries or other items.
ReplyDeleteTaylor-I know that everything is connected in the economy. If one person loses his or her job, then it affects everybody. Like, if someone loses their job at the car company, then they won't have enough money for a TV, then the TV company suffers. I think a global recession would make our economy worse, and I'd have to pay more for things. To help the economy, I would stop the wars. We spend billions on the wars, for weapons, and to pay soldiers, and the cost to send everything to the other countries. If we stopped the wars, we could lower taxes, and everybody would have more money to spend, and the economy would get better.
ReplyDeletevictorious vince!-Our economy is not doing so good right now. And that soon it might go into global recession. I think that global recession will impact our economy negatively making it difficult for people to buy and sell things. It also makes it difficult for small businesses to stay open and for people to keep a job. It would effect me negatively because if my dad lost his job we wouldnt have money coming in so we wouldnt be able to get stuff and if my parents couldnt find a job we wouldnt be able to get our basic needs. some things that could be done to fix the economy is to offer more jobs. make shelters for homeless people that helps them find work so they can get paid. cut taxes so they can afford other things like food and shelter. i hope that people will find a way to fix the economy and some day there will be no worries:)
ReplyDeleteCatie-I know that our economy is not doing so well. I think that a recession would be very bad and harmful to the community and me. If we have a recession, my parents will have to work harder than they already do and we would have to make sacrifices. I think that a great way to fix the economy would be to get rid of money and just have people check out items from a store like they usually do so that the store would know what to get more of. A lot of people think that this idea is stupid because they think that people would steal stuff but why steal when it costs nothing? But i think that we should be limited to resources like gas and minerals and all of the nonrenewable resources.
ReplyDeleteConor
ReplyDeleteI know that our economy isn't doing that well. Companies are laying a lot of people off because they need money to pay the employes.
Global recession could affect my friends or I by one of our parents getting laid off. If this happens we might need to give up some of our things or free time to help our family make money or save money.
I have two reasons. My first reason is that I think we should spend our money on local buinesses instead of buying stuff off the Internet. I also think The money making machines should make more money than they're making now and give a $5000 grant to buisnesses that are in trouble.
Gabi- i dont think our economy is doin very good right now. jobs are really hard to find at alot of people are losing their jobs because of the economy. i think global recession could affect anyone at any point anyone could lose thier job just because of the cuts that need to be made. personally it could affet me if something happened like my dad losing his job. it would be a big negative impact on my family. simple things could help our economy, like building homless shelters or feeding the hungrey. the simplest things like helping the less fortunet help our economy. or things like having more jobs. this way our uneployment rate will go down. all these things can help our economy
ReplyDeleteBelle- right now the economy is bad but people are telling us that its getting better! so thats good, but the economy can effect alot of people and how the economy is right now,we need to take care of the people who have lost jobs,money, houses, and other basic needs. when the economy first droped my dad left to washing ton alot to go and help the congress, so i knew alot abot what was goind on then but not as much of whats going on now i think that hopefully one day everthing will be back to a better state.
ReplyDeleteDan the Man -I know that our economy is not going well and people are losing their jobs and not getting as much money as they deserve. I think the recession would be very hard and people would struggle. It would effect how people act and the way they live. It would effect me because I would have to give up lots of things. To fix the economy more jobs should be offered, prices should be lowered, and taxes should be lowered. This will make life easier and everyone would be happy.
ReplyDeleteRyan -I thinck that is economy is terrible. It seems that's no ones doing in thing about it. If your trying to start a new bussens it's very likely that it won't do good because of this economy. The more people lose there jobs the worse the economy dose.The big company's are not getting the would have got 6 years ago bevse back then the economy was a ton better so if we can get there agen we would be fine.What I thinck that should be done is that everybody dose there part like not buy as many of grocerys.We should all dO our part in helping the economy by whacing your spending.
ReplyDeleteNissa- Our economy is terrible right now, and I think it will get quite a bit worse before it gets better. China is pretty close to surpassing us in GDP, which isn't a good thing. Also, we owe them a ton of money in loans, more than any other single country in the world. If we had a global recession, that would mean a huge percentage of unemployment all over the world. A big problem with this huge recession is the fact that the big companies/corporations that are international and/or big in their own countries; take in billions of dollars world wide, while the countries (governments) don't have as much money, so they have to make more, so their money isn't worth as much globally. I think we can all do our part by buying locally, not imported food and other goods and services.
ReplyDeleteKatie-I know that the economy isn't doing so great right know. I also know that the stock market hasn't been doing so great ether. This problem is effecting our communities job loss and education. Many companies are having to shut down or let some of their employes go like micron did. This is sometimes because of pricing and budget cuts. I think that if they lower prices then more people will buy the product or service and the company will make even more money than before. I also think they shouldn't have budget cuts in schools in public schools ecspecialy because mabe in the future with the right education someone could come up with a solution to this problem.
ReplyDeleteSena- I know that our economy is doing very poorly right now. People are loosing their jobs and many are becoming homeless. It would effect many people and it would be sad to walk down the street and see a lot of homeless people. People would be likely to be in poverty. It would effect me because my parents could loose their jobs and I would be without food and a home. We should make more companies in places that have yet to develop.
ReplyDeleteNoriko-I know that our economy has been doing very bad for the past years.but I think people should stop whining for once about how bad the economy is and look at the positive in life. Politicians are full of it. For once think of the cup as half full not half empty. Have you ever thought instead of whining about how bad the economy is to think about people in Africa who are dying because they don't have anything such as food and clean drinking water. Is the economy really doing that bad? Look at the other economies in the world now do you think our economy is that bad. I think some people need to stop feeling bad for themselves and actually go do something to help the economy. MAKE A DIFFERENCE!!! The USA is 15 trillion dollars in debt. I WONDER WHY!!! People these days are such drama queens.
ReplyDeleteAlli-I know that many jobs were lost, and it seems like the prices on EVERYTHING have been going up. I think that the ressesion will affect anyone with a car, or a home, or anything that they have to pay taxes on; so almost everyone. I think that they should have more job openings, more people should volenteer for the community, and first and frmost, people should sitck up for what they believe in.
ReplyDeletepeter-I know that dow joenes was up on friday than plunged 6 percent.I also know that alot of people lost there jobs and taxes are going up.I also know that alot of people are going homeless because they dont have jobs.The queston Im asking is why is nobody doing any thing about this global recession. We also owe alot of money to china.To make the econemy rise there should be more jobs made even for minimal wage.
ReplyDeleteJacob- I know that the economy plunged a couple years back, but now it is recovering. This could make more people lose their jobs, and make more people homeless. To fix the economy we should price things less so people wont have to spend so much money on things. We (as a nation ) should spend less money on things until the economy improves.
ReplyDeleteAmaia-I know that economy is present all over the world. I also know that other countrie's economy, as well as our own, aren't doing so well. I know that a countries economy is measured by its Gross Domestic Product. I think that if we had a global recession, it would effect our community with less jobs, and in addition, the jobs would pay less. I think people would have to be more careful about money, and many things such as homes and cars would be foreclosed and repoed. I personally would be effected in such a way where maybe my dad could lose his job, and i couldn't go to St.Joes anymore. We may have to move or something to find work. I think a way to fix the economy is for people to be more thrifty about money. We should also provide more jobs, and those who make millions, such as actors or pro NBA players, should be forced to give up two million dollars a year to provide more government run jobs to help others.
ReplyDeleteI no that the economy in the United States is not doing well. People are losing their jobs and not bring able to bring in enough money to support their families basic needs like food water and a home.I think that If we had a global recession that even more people woulda those there jobs. All of the store prices would go up and more businesses would go out of buismess. People would start losing there homes and homes would stop being bought. It would effect me because if my parents both lost there jobs then my family wouldn't have any money coming in and we would struggle if they coudnt find a job in a certain amount of time. I think people that make millions of dollars for doing nothing but play in a sport should not be paid as much. Parents are working hard to keep there no sand all athletes have to do is play a game there is no point for a player to make so much money. If we didn't give Players as much money it could help us with some of our economy struggles.
ReplyDeleteStephanie is the one above sorry
ReplyDeletecody sushipirate, i know the economy is pretty bad right now and that people arnt doing so well so people cannot get to many jobs.Ithink that people need to buy more things it may sound crazy but buying more thing will make more money to go around and if there is more money to go around it will hopefully solf the problem at hand
ReplyDeleteEmma- I know that the global economy isn't at its best level that it should be. The economy has gone down a huge percentage. Alot of the US and world's population is loosing their jobs because of it. Also, the population has gone down because of loss of money. To fix this, the economy should price things lower so that things are more affordable for those in need. The economy should also have every school in the nation do something for the homeless centers and other places to help provide certain things for the needy. The ecnomy could effect my life poorly because I may be forced to give up something I love, the nations prices could go up so high that my family couldn't afford what we need in order to be healthy, and many other things. So we should all come together as a nation and fix the economy with the best solutions that we can think of and make the world a more affordable and more happy place for everyone.
ReplyDeleteI know that the economy is vey bad right now. I know that lots of people lost there jobs. I think that global recession will hurt our economy. I think it will cause more people to loose jobs. I also think that to improve our economy we should hire not fire!
ReplyDeleteAaron was the one above this
ReplyDeleteAlice-Well...I don't know much about the economy but I do know that it's not doing so well right now. I guess it has a lot to do with money and jobs, kind of like the inter workings of the country. A global recession would not be good at ALL because then we might not get imports from other countries. And so many different things come from all over the place that that would shut down a huge portion of business. Also factories from America in different countries might get closed down and kicked out lowering our GDP.(hey look, I prove now that I learned something from the book!)Well,I personally have tons of things from different countries in my house and I have no idea what it would look like without. So other products do play a part in my life. I'm not meaning to be political I just think its his job, cause I think the president should do something about it and not give speeches about how 'bad' the economy is. I also think we should try to make more jobs and spread the wealth so to speak.
ReplyDeleteI know that global recession is a bad thing. Recession means people make less money and many people lose their jobs.
ReplyDeleteRecession would affect my family business because when people make less money they don’t buy as many cars. If the recession was bad enough, we could lose our business.
I think we could help fix the recession by changing the leader of our government. The new President should make it so our country makes our own stuff, again, instead of buying all of it from other countries.
Comment above is from Dill-Bill
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