economy
Nothing serves as a better barometer for the economy than the Christmas season. The news and financial pages become filled with stories about how much people spend and buy — all closely attached to measuring consumer attitude, employment and earnings reports for retailers.
I hear a lot of politicians and lawmakers talk about ensuring that their children and grandchildren have a good life in a country with a sound economy and abounding in opportunity.
Seems so far, the lawmakers and politicians have failed. And the future for young people in this country looks bleaker, not better.
The prepositional phrase “in this economy” has become a part of the American vernacular. The economy has slowed down — unemployment jumped to nearly 10%, the financial industry took a huge hit as investors lost $11.2 trillion between October 2007 and March 2009, and the housing market is still in crisis.
Congress and the Obama administration have taken steps to remedy the situation. Along with implementing an $800 billion stimulus package, the government has orchestrated a bailout for automakers that could soon top $130 billion and has committed over $6 trillion for financial institutions.
Former Treasury Department official Rick Cook says America has two economies in crisis: the “producing” economy and the “financial” economy. He advocates replacing a bank centered monetary system with money created directly by the Federal Government.
