Economic Shift

March 15, 2010
By Yeswecansayswecan BRONZE, Highland, Utah
Yeswecansayswecan BRONZE, Highland, Utah
3 articles 0 photos 0 comments

Economic Shift

The Great Depression left the United States and the world devastated. The economic hardships of today are reminiscent of our past. The economic crisis can be resolved if people will leave their money in the stock markets and if buying on margin is eliminated.

The strength of Wall Street depends on the money in the stock market. A massive withdrawal is the source of a stock market crash. Not too long ago the stock market dropped significantly due to mass panic. If Americans will have faith and trust that the market will rise again we can help prevent the global depression from going any further. More money helps maintain a healthy economy.

The American dream is that if you work hard enough you can rise up and obtain luxuries. In recent times, the common belief is that because you are American you don’t need to work to earn luxuries. Due to credit cards and the increase in loans, Americans are buying things they don’t have the money for more than ever. Credit card debt is sky-rocketing while bank accounts are shrinking at an exponential rate. The common ideal is “I’ll pay it off later and have fun now”, but this is the real world and the real world requires work before rewards. Americans need to learn to use a budget. Because of their actions it is now time Americans must suffer the consequences and return back to the beginning and learn the right way to handle money. Some may say that this is too harsh and difficult; but if you can learn to get a loan, you can learn to use a budget.

Many youth underestimate the need to learn basic financial lessons. They believe that the economy is in shambles because of the older generations and that they have plenty of time to learn to budget. This is false. Although the older section of society is part of the problem, the youth make and have made a major contribution to the economic issues we are encountering. Far too many college students build up their credit card debt on unnecessary items. Learning to be conservative and live on your means is crucial to being financial stable. We as teenagers must learn to budget. It is true that older community has not completely learned their lesson on budgeting, but we must. Americans of all ages continue to use credit cards and go into debt creating a very unstable economy.

Budgeting is not optional it is necessary. If the youth, the future of our great nation, learn to control their money a better economy will emerge, job opportunities will increase, there will be less personal debt, and there will be no national debt. I anticipate some hostility towards budgeting for quite some time, but eventually all objections will be cast aside as people begin to see the change to a stronger, happier world. This is all possible if Americans will leave their money in the stock market and implicate a budget. Not only America will benefit, but the world as a whole.

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