What U.s. Economic Crisis Are They Talking About? I Am Baffled.?
today congress had to meet with mr paulson and fed. chairman bernanke to grill them on the 700 billion dollar bail out of the banks and wall street and the housing mess with many foreclosures. tonight president bush will address the country on the economic crisis. but today i had to wait in line for over 20 minutes at burger king for lunch. and then i went to local mall and had to strugle with my shopping cart at the wall mart because it was so crowded. then in same mall i had to wait on line at the sports authority because of all the shoppers. (keep in mind it is wedensday) then i went in to macys to check out ladies watches for a holiday gift for my wife. i always shop very early so i do not have to suffer the holiday rush at the malls. the 2 very pro. sales ladies were both busy showing fine rings and a chain to 2 other shopers. after purchasing wath i went to the food court and had to have my dunkin donut coffee stnding up because there was not 1 seat available. a young lady with 2 babies also had to stand and wait for a table. then with my feet feeling sore and tired i went to the massage spa and with 8 tables and 8 workers i had to sit and wait with 3 other customers. i work with about 350 men and not 1 of them is in foreclosure and most all of them own their own homes but still makeing payments. i do live on li ny but the crisis the news is reporting 24 hours a day is that it is a world wide crisis. i do not see a crisis at all and i suspect it is to help only the wall street people who have been makeing tons of money and giant bonuses even when their company loses money. if i am wrong please explain so a simple mail carrier like me can understand.
It’s more on the macro level on the economy. The crisis doesn’t affect me at all either but it does affect millions of other Americans who work, does business, and who invest in these companies.
If we don’t do anything then the companies will fail and be bought out by overseas firms. Just look at Lehman Bros going bankrupt and being bought by Barclays plc at a bargain price.
The more dollars without backing that’s put into circulation, the lower the value of the dollars. It’s a supply & demand economic law.
Examples:
The more apples in the market the lower the price { or value } goes.
The price of stamps goes so high no one wants to use the mail service and you get laid off.
The problem is still mostly in the financial market, but will effect the real economy you live in, if it is not corrected. People and institutions have have sharply reduced the amount of money they will loan, and are putting their money into save assets, so the supply of credit the economy needs to function has stopped flowing. A simple way to follow that is happening in the financial market is to watch the interest rate on the 13 week t bill, which is the safest asset available for holding large amounts of money. The rate today is .44% which is well below the inflation rate and the lowest rate since the depression when people just kept cash under their mattress because not even bank were a safe place to keep your money.
Lucky you … must be nice … I’m definitely being affected
i’m young, just graduated and can’t find a job anywhere despite living in a big city
please share your secret with me or tell me what i’m doing wrong, cuz I’m really desperate … below is my questionhttp://answers.yahoo.com/question/index;…