News feature on how residents in your county feel about the economy - Essay Example

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News feature on how residents in your county feel about the economy

This led to a recession that began to not only affect those across the country but also across the globe. In 2009, it was stated that the crisis was over; however, the effects of the economy and the slow repair have led most to an understanding that the conditions are no better than the Great Depression and continue to lead into a downward slope of finances. The changes which have occurred not only are seen in the after effects most are feeling, but also have led to the statistical information that shows the lack of relief from the changes in the economy. The housing bubble has accumulated to over 124% in less than 4 years, the deficit has risen to over $650 billion by a rise of 5.8% and debt burden in households has risen by 127%. The decline is continuing with the shadow banking system being seen for the first time and shutting down across the country, stock market prices falling lower than before and credit markets reducing in their capability to recover with individuals paying finances and with retrieving lost money from the debt (Norris, 2011). The results are not only showing in the statistics and changes, but are also reflective in the everyday lives of individuals that are now going through the economy. ...Show more

Summary

Everywhere across America is the same consensus – the economic crisis is not going to end soon. There are many that are questioning and reconsidering the problems with the economy crash that began in 2008 as well as what the future will bring in terms of financial stability for both themselves and their children…
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