T he past ten years have been hard for all of us. We have fallen on hard times as a country, yet some don’t seem to be as affected. Whereas some are impervious to the economic breakdown, others have lost homes, jobs, and their lives. A Houston Bankruptcy Lawyer reported that his business has skyrocketed since 2000. Houston is an example of thousands of cities that are suffering. There were rallies to, in Houston Stop Foreclosure on houses, but it was a futile effort. Everyone wants to escape this fate, but it has proven to be much harder than we thought. We have to address all the factors that helped contribute to our current state. This is a time to start over, tear everything down and build up a new system.
The reason the economy is so bad right now could be blamed on the oil prices. The Middle East has been charging us more for oil, causing a rise in gas prices. As our gas prices rise, we fall into frenzy. Almost every American family owns at least one car, if not more, so each one of us is spending more money than we are used to on gas. Once the price of gas starts to rise, the price of everything else rises. Products are shipped to stores using gas, and manufacturers get their supplies using gas. It will cost us more to buy these products since it is costing them more to make and ship them.
Our incomes haven’t increased but our outcomes have. Actually, many people are making much less. Big changes have been put in place to adjust to the changing economy. Businesses are suffereing because people have to cut back on spending due to inflation. To deal with their loss of business, there have been lots of pay cuts and layoffs. So, most of us are making less than we ever have before during a time where we need to be making much more. Obviously, the economy is unbalanced and we need to fix it.
The only positive to situations like this is the aftermath once the problem is resolved. Hopefully, this recession serves as a learning experience for this country. If we fix this issue the right way, we can rebuild and reinforce our countries system so that something like this doesn’t happen again. The reasons for this recession are clear, so there should be changes made to the areas or policies that allowed this failure to occur.
Also, this leads to changes on the individual level. It will lead them to changing their own policies. New precautions will be taken to assure a household from losing everything. It is a shame that it takes something this terrible for people to learn a lesson, but it is a lesson that couldn’t hurt to learn.