Sep 29, 2008
Still, NO ACTION!!
Today, Congress rejected the economic bailout plan. Because of this action, the stock market lost over 700 points. This was the largest single day drop in the history of the market. Also, another bank (Wakovia) failed today. That makes seven failed banking institutions in less than two weeks time (Fannie May, Freddie Mac, Lehman Brothers, Meryl Lynch, AIG, and Washington Mutual are the other six). Please read the article at: http://biz.yahoo.com/usnews/080929/29_bailout_take_ii_what_the_feds_do_next.html?.&.pf=banking-budgeting and answer the following: Based on the information contained in the article, what do you believe will be the condition of the United States economic health in six month's time. Use information and facts from the article in your answer. The link may not work because it is long. You may search the article title. It is called, "Bailout, Take II: What the Feds Do Next." Sorry about dwelling on this subject, but I feel this is really important and if not corrected, will be detrimental to your futures. Knowledge is the best weapon!!!
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22 comments:
I think the economy will fall drastically (as if it already isn't.) I say this because of the fact America has been going down year by year in everything we need to survive and live and have happy lives. This article just proves how bad the system and government is getting now. I just wish there were some way somehow to just reverse these affects and our lives just go back to the way it use to be without any worry of any kind. In 6 months I won't assume or predict what will happen but I'm sure it'll get worse through time until some kind of action to help out our economy will save us all from so many problems thats wrong with America. Our only hope is that the new president who gets in office take immediate charge of the situation and hopefully better it than worsen it. Thats why point of view on this matter.
From the information given i believe that within six months time the condition of the United states economic health will be much worst than it is now.I based that upon the mere fact that bank faliures over the next six months could be predicted as many as 750 to 1000 banks in all.
In six months time I feel that the econmic time in tne United States will fall, because most of the banks are losing money in mortgages. And colleges are starting to stop giving out money. So future students are going to have trouble getting into college. Many Americans don't like getting loans, because they will have to pay them back and that could take a while depending on what your career is. So Congress needs to try and fix the economy and so that Americans can get money from banks and mortgage companies.
I believe our economy is slowy but surely going into another Great Depression. Im a bit scared of our economical future as a country because with six banks closing within a two week time period, does not have a bright outlook at all. while in six weeks we wil. have a new president, we can't depend on our economy to be repaired in a 5 month time period. It is going to be a while before our economy is back stable.
I believe that the condition of the United States economic health in six months has potential to get better and to fail. If our gov't and the people of the United States dont start making wiser choices our economic health will fail greatly. This would affect the situation of the students of today. Because the more money being lost the less money we will be able to recieve for scholorships!!
I believe that the United State's economic health will be in a little worse shape than it is in in another 6 months. The article stated that, "there could be 750 to 1,000 bank failures over the next six months because of billions in bad assets stemming from the housing meltdown." Whom ever our next president will be, hopefully they can and will fix this economic downfall. This is the worst that economy has ever been. Right now it does not seem like it will or is getting any better but, I think it will prevail.
I feel that in six months, the economy will fall in a major decrease. There will be no money for anything. We will not have any jobs making it so there is no money for houses, cars, or college. It is already bad for us, I don't even wantto imagine what it will be like for the next generation.
Bailout, Take II:
I believe that the government is against the people and for the companies. I hate to say this and this is my own personal feelings but I hate this country and I dislike our current president with a passion... I'm just fed up with this country and the people in it and as of right now I could careless what happens anymore. The country is falling at a fast pace and no one know what to about it, how convenient. This is all that I can say.
I feel that in six months time the health in our economy will be in the same situation we are in now. Prof.Harvey of Duke University predicts that 750 to 1,000 banks will fail in six months. This will do nothing but worsen our economy more. With this happening the $700 billion bailout plan is our last hope. With the end of Bush's term its time for a new start and hopefully we can find a way out of this recesion.
I believe that if we continue to go without the bailout plan america is only going to get worst. We need a plan to get better we can not last much longer without one.
I want to comment on Shareka's comment. I completely agree with her. She makes good points and I agree that our econmy will fall drastically.
I agree with Courtney. I say this because the money value and everything else will decrease here in the US, except our prices. We need a fair economy where our money meets our prices. If this continues we're going to go into another deep depression~ and I'm sure no one wants that. The gas prices are already high enough, then if money falls and it's value~ there's nothing much for us to do.
I agree with Kelby at the fast rate the these banks are failing our economical situation right now is goiing to cause us to go into another Great Depression. The leaders of our country has to step up to the plate and make some chances!
Looking at everyones post we all seem to have the same opnion about what we feel will become of the United States Economic Health and i must say that i have no disagreements with any of the posts on the blog.
I agree with kelby completely. If six banks can close only within a two week time period picture how many will close in a six month time period. It is horrible. We will be in anopther Great Depression in a minute the economy is so bad.
I believe in 6 months we will not be able to reconize the United States. Of course we will have a new president but it would about 8 years to fix this crisis. That bail out plan was not thought over long enough so if the banks have to suffer let them suffer, maybe then they (major corporations) will understand how we as hard working citizens feel.
I really feel that the economy isn't going to have a change because there was an attempt but nothing happened. So I feel like there is no reason for this article because noone feels that the economy has a chance.
I agree with jelicia completely. With over 750 to 1000 banks fialing within the next six months we really have no hope. The economy is going to be fail horribly, which is a bad thing to say but it's life. Our families can baely afford the basic necessities in life as it is, causing them to go to the bank for loans. If all these banks close down then we are going to be on the streets next. Something has got to be done.
I would like to comment on Asley's blog. I believe she is absolutely right. In six month's our economy can change from one state, to another.
The condition of the economy is going under because the economy is falling apart. It's going to fail and it's crucially in need of a complete recovery, but the biggest concern is how this will effect us. Hopefully, things can fall through for us, our government needs to get it together and keep us from falling into another Great Depression, we're already in an economic depression.
In my own words, I feel that this is a serious situation as well. The stock market is whats keeping us in control of everything thats been going on for the last 8 years. i believe things will get better, its just the wrong people thats running the buisnesses, and trying to compile more and more without knowing whats going on.
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