Johnson Reading Response 138 to 162

Johnson Reading Response 138 to 162 - would greatly benefit...

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Megan Scharar Abigail Wolford English 102 2 November 2011 Trading Financial Risk and Jobs: The Global Economic Crisis This section discusses the economic crisis, the global financial system, and offshore outsourcing. The economic crisis in 2008 threw off jobs, cost of living, credit, and economic stability. When many began to default on their mortgages, large financial institutions failed causing an even greater decline. Banks were given way too much flexibility with lending and credit causing irresponsible spending and a down turn in the economy. Offshore outsourcing is putting US jobs in Europe. This also causes a great rise in unemployment. The government, the system, and the people are responsible for this crash. Reform, cooperation, and restrictions
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Unformatted text preview: would greatly benefit the recovery of the economy. The economic crisis hit hard in the United States but it has affected every country around the world within their own system. Cynicism towards the economy should not halt the openness and economic freedom of the United States. A stimulus package for the world would include safety net programs, investments in infrastructure, and third the vulnerability fund. My family was affected by the economic crisis in 2008. My parents lost their business and our financial situation suffered greatly. Fixing the crisis world wide will never be able to happen over night, but with cooperation and a good enough stimulus plan, our economy will be able to turn around for the better....
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