Johnson Reading Response 04 nov

Johnson Reading Response 04 nov - that they wont pay for...

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Megan Scharar Abigail Wolford English 102 04 November 2011 Capitalism Can Save Us Steve Forbes is very optimistic about the system. He believes that capitalism can save us and the shell shock of the recession won’t be prolonged. The government understands that they need to credit flowing again and take extreme measures to reboot the collapsed economy. The middle class was growing rapidly and we entered a Golden Age, and it is believed it will happen again. Bad government action was the main cause of the crash. A miscalculation led to an over pump of money into commodities causing them to skyrocket. Tax and inflation by the government is to blame for the crash and recessions of 1930 and 1970. The Fed is responsible for keeping the dollars value and dealing with financial panic. Forbes believes that free-market capitalism will save us. Countries all around the world are protesting and striking, proclaiming
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Unformatted text preview: that they wont pay for the governments mistakes. Immigration is the best way to stimulate the economy. America was founded upon a system where new and better business replaced the old, outdated business. The amount of unemployment, not only in the United States, but also around the world has gotten out of hand. Action needs to be taken and what is good for American corporation is not necessarily good for the American economy. I feel that this section was very interesting because my family was personally affected by this economic crisis and I was old enough to understand what was going on. It is fascinating to hear different perspectives and opinions on what can help mend the United States and global economy. The government should really take into account new ideas so we do not have to repeat this similar economic situation in the future....
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