.jpeg)
America has been through her share of economic turmoil over the past two years. Since the collapse of our banking system and the initiation of the TARP fund program in 2008, America has been in uncharted territory. Therefore, even the most noted economists are not completely sure what the inevitable outcome will be.
The Senate passed a new 15 billion dollar jobs bill package today, in hopes of taming a national unemployment rate that has been hovering around the 10% mark for almost a year. The long term promise is that it will revive our sagging economy.
Historically, government spending has been included in the recipe for economic recovery in deep recessions, and was employed on a much larger scale in the depression of the 1930's with the WPA and other government projects.
But history has not always been an accurate predictor of things to come.
The collection of articles here is a snapshot of some of the more dramatic events in our recent economic past, with several predictions for the future. Only time will tell which events were avoidable and which turns were beyond our control.
As always, please feel free to add your own respectful views in the comments section of each article.
Economists warn: Another great depression is likely
Phrases like; "capitalism-without-morals” are being recited by other economic guru’s who are frustrated by what they see as imminent. Columbia University Professor and Nobel Prize economist, Joseph Stiglitz, is among them. Stiglitz said, "the financial sector will only try to circumvent whatever new regulations we put in place. We will simply have a short respite before the next crisis." Full story
The economic collapse of America - what the future may hold
In 2008, former Treasury Secretary Hank Paulson announced to the world that the financial system in America was suddenly on the brink of collapse. The only way to save the world from a tragic meltdown, was to give a lot of money to financial institutions and Wall Street firms so they could erase their debts. Full story
The rise & fall of the American economy
There are those who believe that government intervention was the cause of our economic crash in 2008. Some believe it was the cure. Still others will insist that every form of government that rises, will also inevitably fall. Full story
Is the American economy destined to fail?
It has been said that absolute power corrupts absolutely. This has become more evident as we watch America’s economy sink under the weight of lobbyists and Wall Street bookies. We are no longer a country that gives its greatest rewards to those who work the hardest. We have become a nation that financially rewards those who scheme the best. Full story
For email alerts and news updates SUBSCRIBE to this page
Comments
$4.00 gasoline and Obama winning the deomocrat primaries is what killed the economy. That was in 2008.
When will the economy recover?
We know the answer to that one don't we.
Got something to say?
Examiner.com is looking for writers, photographers, and videographers to join the fastest growing group of local insiders. If you are interested in growing your online rep apply to be an Examiner today!