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[H412]History Of The American Economy

by Giles Patrickson, Gil

The American economy has changed dramatically in just the past five years. Magazines and newspapers have threatened for the last decade that our country was going to lose a huge portion of the high paying manufacturing jobs it possessed. Those that worked in manufacturing were going to be forced into the service industry, or to take on the role of entrepreneurs. Now we have been bestowed with an unwanted opportunity to watch those predictions be truer than we care to admit. The media has not reminded us that this prediction was presented to us some years ago. Still, we all hear the subtle voice in the back of our heads saying, "I told you so".

"Success" is acquired using fundamental guidelines. Whether you are currently running your own business or researching information to simplify your business startup while you are holding a regular job, the fundamentals are the same for both. You can be very successful as long as you stay focused and persistent. It can be hard work just to build a profitable business. To be successful you must be focused and persistent. Here is some information as an incentive. As of April 2008, the United States Department of Labor released the current Household Survey data stating that the number of unemployed persons is presently at 7.6 million (U.S. Department of Labor, 2008). A year ago that number was 6.8 million. That is an increase of 800,000 people in just one year. Let me give you some statistics to show you how huge a number like 800k people really is. In 1980 the American population was 231,106,727. By the year 2000 the population had reached 286,196,812. With this information we know that the population had risen by 55,090,085 in twenty years. This translates to the population rising at an average of around 2.75 million people a year. If our unemployment rate is rising at 800,000 people a year, that is almost 30% of our nations growth. This information is accompanied with the fact that the average American will have 10.5 jobs between the ages of 18 and 40. This means that at some point we will be looking for a job. This will make us part of that 7.6 million people. You do not want to be a part of that statistic. Stay focused and persistent and you will reach your goals.

TheAmerican economy has spun into an economic meltdown, including thelargest drop in GDP growth since 1980. The constant blow to thenation's consumers has drastically reduced spending power, causingdepression worries. A widespread drop in housing prices, dips in thestock markets and insolvency by highly trusted banks have left peoplewith no other option but to stop spending and start saving.

S&P/Case-Shillerstatistics revealed that house prices in 20 big cities fell at theannual rate of 16.6%. There has also been a rise in the unemploymentrate (6.1%) and is expected to move upwards further. Bloombergforecasts that there may be another 0.2% increase in the last onemonth bringing the final statistics to 175,000 jobs lost. Reliablebank and credit sources have also lost shape and credit levels hadalready fallen to 3.7% in August. Around the world, the Japanese andEuropean economies are nearing recession and the global credit crunchhas affected many more.

Tomorrow?sUS presidential election will help decide the policies that will bein force for the next few years. Cutting taxes can leave extra cash,and credible plans for long-term fiscal health need to be put inplace. Obama's plan to put $45 billion in reserve and investing $75billion has got him 82% support from one of the leading onlinediscussion network, .His plans to introduce a tax credit of up to $500 per person and manymore such similar benefits may work well for the economy. Economicpolicies that act as stimulus to the present depressing economicstatus can act as a catalyst in raising current standards.

Goingby the trend set by people the world over, at the popular discussionnetwork Minekey, Obama's policies are well received andappreciated. conducted by Readers Digest also shows a mixed blend of nationalsvoting for Obama's strong economical and financial policyproposals. A reality check on what is actually being discussed andagreed upon can be found at many of the online election sites, thathave contributed to creating awareness about the current economic andpolitical scenario. Strong recommendations on where to invest in thecoming months and how well taxes can be cut down can be got fromthese discussion boards. They have not only generated support for thecandidates, but also helped users to vote, discuss and express freelytheir opinions on the probable effects of these policy proposals.

Whathappens after November 4^th, 2008 is yet to be seen. Whathas happened so far may go for the better or worse after theintroduction of new policies. The American economy and the election?soutcome can make a huge difference in global markets. While at home,jobs can be restored and houses can be saved, markets worldwide canmanage to cross over again, if this consistent slump down can beslowed down and stopped eventually. The trend may continue up to thefirst quarter of 2009, after which there can be seen some vital signsof improvement. Policies implemented after elections may also takeits own time to restore economic normalcy and stabilization.Meanwhile, those who have managed to save and do not use credit arethose who may be able to sustain the economic depression.

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Both Giles Patrickson & Liza are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Giles Patrickson has sinced written about articles on various topics from Latest Election News, The Internet and Music. , . Giles Patrickson's top article generates over 3600 views. to your Favourites.

Liza has sinced written about articles on various topics from Elder Care, Shopping and Samsung Cell Phone. Writing articles is my hobby.. Liza's top article generates over 6120000 views. to your Favourites.