If you are looking for an original topic, look no further. The recession is a complicated and difficult subject to understand. Many people have their own opinions about what caused the economic collapse of 2008, and why it has been so hard to recover. In this blog post we will explore five reasons that can be attributed to the recession being all about “I.”
In the United States, people have been spending more than they make. This extra money is coming from our homes in other words, we’re borrowing against them! In addition to that, most of us are maxing out on debts like credit cards and car loans.
Reason for Recession:
Another reason for the recession being all about “I” has to do with high unemployment rates. The economy was already struggling when America’s population started aging rapidly because there wasn’t enough young workers taking over jobs as previous ones retired or moved into retirement. Now it sounds even worse since many businesses can’t find new employees thanks to a lack of recent graduates who have needed skillsets for today’s workforce.
The length of time an average person will spend on unemployment is a whopping 40 weeks. That means they’re not only losing their job, but also what little savings they might have had to use as income in the meantime.
It’s actually out of necessity!
The economy has been doing poorly for so long now that even those who are fortunate enough to still be employed can’t spend money on anything because of how tight finances are at home. So when people are feeling like spending less, it’s not just because of laziness or lack of motivation – it’s actually out of necessity!
And finally, many experts believe that this recession was triggered by an overvaluing and subsequent bursting of the housing bubble which led to one million homes being foreclosed upon in 2008 alone. The real estate market wasn’t coming back anytime soon, which is why the recession was so difficult to recover from.
In this day and age, there are many more people who are unemployed than ever before – over 15 million in America alone! And these numbers don’t include all of the Americans out of work for long periods of time or those who have accepted part-time work instead of full-time employment. That’s a lot when you consider that only 30 years ago unemployment rates were as low as six percent!
Trend during Recession:
Another trend that has been emerging during this recession is that not only do we see divorces happening at higher rates but also an increase in children being born outside marriage. This isn’t because couples stopped loving each other or wanting to be together just because of the recession, but it is likely because they became so stressed out and financially limited that their relationship didn’t work anymore.
There’s also been an increase in mental health issues like depression happening to people as a result – those who are up against poverty and unemployment often become depressed from this stress on top of being poor themselves. This isn’t only something we see with adults either: children can also suffer from anxiety or other types of psychological problems when their families’ financial situation worsens over time.
Partly due to these increases in divorce rates, there has also been a rise in single parent households around America where one person takes care of kids without help (both financially or emotionally) while trying to find employment at the same time.
Single Mother and Family Budgets:
If you’re a single mother, it can be almost impossible to work and provide for your family when childcare costs are high – on average, the cost of daycare in America is $11k per year ($1100/month). That amount would take up about 50% of most families’ budgets!
There’s also been an increase in individuals turning to crime as a response to not being able to find employment or make ends meet with their current salary. This is especially true among those who don’t have a college degree (which has become less common) since they rely more heavily on entry level jobs that need little training. When these people can’t get enough hours at work because companies are scaling back due to a shrinking economy, they are forced to turn to illegal activities.
The tattered American dream has also led many people in the US (especially those with less than a college degree) to believe that there’s no point in pursuing higher education or making any effort towards advancement because their chances of being successful have been diminished by an economic downturn. This is one way that society becomes stratified as more and more jobs require specific skillsets while lower level positions become obsolete due to automation – America needs everyone who can contribute something valuable!
Impacts of Recession:
This recession has had an especially negative impact on young adults because it usually takes time for them to get established enough at work so when companies start downsizing, they’re likely stuck working entry level jobs without any possibility of promotion; in the meantime, their student loans are accruing interest and many end up with no hope for a better future.
The recession has also had an impact on our culture by making us more insular Americans want to focus on “dealing” with what they have rather than striving for something new or different because it reminds them too much of all that’s missing. This is why we see so many people concentrating on things like extreme couponing, raiding garage sales for deals (and possibly neglecting other necessities), and watching reality TV shows about hoarders!
It’s understandable how some might feel defeated when faced with this sort of economic downturn but there are ways not just to survive but thrive during difficult times.
America’s economy is not stagnant and it will recover in time, but what we need to do is be proactive about making sure that no one gets left behind or injured by the fallout from this recession. We all have a responsibility to take care of each other – especially during hard times!
What happens when your best friend tells you their name begins with “I”? Well, they could be telling you something new about themselves (like an inside joke) or more likely than not, they’re telling you that life isn’t looking too good..You see, there are five things many Americans can blame on our economic woes…enough said?