Late-2000s recession

What do you think of when you hear the word crisis? Do you think of something that happened in history, or do you think of things that are happening in your own life? “The American Crisis” as better known as just “The Crisis” was a series of pamphlets that Thomas Paine wrote after writing his well known pamphlet, “Common Sense”. There are sixteen pamphlets in total and all of them were published from 1776 to 1783. Thomas Paine’s The Crisis uses pathos most effectively because it utilizes the…

in government spending in 2010 in which biggest cuts will be borne by local government. As we know, budget cut is the act of reducing budgeted expenditure, so Essex county council carried out a lot of policies to stimulate economy to recover from recession in the past 5 years. In this essay, I will reveal spending cut in Essex through three examples of government budget cuts. In the end, I will explain why government cut down budget and analysis the advantages and disadvantages about this…

5 most important economic variables (1) GDP (2) Interest rate (3) Personal income and consumption (4) Debt (5) Inflation 【GDP】The gross domestic product (GDP) is one of the most important indicators to evaluate the condition of a country 's economy. It represents the total dollar value of all goods and services produced over a specific time period; thus the size GDP would also indicate the size of the economy of the country. Normally, GDP is used to compare with the previous quarter or year’s…

In their book “The Body Economic: Why Austerity Kills”, David Stuckler and Sanjay Basu scrutinize the impact of economic policy to the life and death of the world’s population during recession. To serve their purpose, they discover the term “body economic” which is defined as “a group of persons organized under a common set of economic policies; a people whose lives are collectively affected by these policies” (p. 139). They argue that the neoliberal austerity policy has lethal impact and cause…

unemployed people in the labour force who are seeking a job. • Unemployment rate.  • Creation of part time jobs to recover for the losses of full time positions.  • Flat and steady growth of the economy  • More unemployment due to the Canadian recession in the oil and sand industries  • Gain of jobs in August comparison to July. 1 Section1_StephanieMurcia_Unemployment.docx The graph below shows that there have not been any dramatic changes from July to August of 2016. Source…

As McGregor (2011) affirms consumer themselves have suffered a transformation since the recent global recession started. In a global perspective, they are currently experiencing financial difficulties. Whatever economic situation changes consumer’s perception of risk affecting the consumption patterns (Mansoor and Jalal, 2011). Consumer self-confidence is…

This paper will examine the relationship between structural factors in American society and individual short-comings and inadequacies in explaining the rise of homelessness. No one ever decides to become homeless. The All-American dream is to own your own home to raise a family in, and to have grand children come to visit and play. Sometimes life does not turn out the way it was once thought of or planned. One of the major factors of homelessness is the cycle of poverty. Collectively an…

The great recession is when a country experiences an extreme decline in economic activity for 2 or more consecutive quarters within the year. Each quarter represents 3 months out of the year. The United States experienced a Great Recession in December 2007 all the way until January 2009. There are many factors that contribute to the great recession that occurred as the years went by. During the years from the 1980s until 2007, demand in the U.S. was controlled by the fast paced growth of…

William Butler Yeats’ poem “The Second Coming,” provides the reader with the mental image of a dark and desolate world on the brink of collapsing. The first line of the poem gives the reader an image of something spiraling out of control. In this case, we can just simply assume it is slowly accumulating storm. As time passes, the storm grows in strength and begins to wreak havoc upon the earth. This storm could represent the United States’ current economic problems and that it is progressively…

The US economy is going through some hard times: low growth, relatively high unemployment (still above 5%), declining competitiveness, massive job cuts in the oil and gas industry (including manufacturing jobs), and growing social inequality. All these problems were so significant, that they were the main topic of Barrack Obama’s "Address to the State of the Union” presented to Congress January 24, 2012. It has also been the focus of the recent Democratic presidential campaign. What is the role…