Horrible Economic Decisions
I believe that the economic crisis will get horribly worse before it gets better, but the world will be a better place because of it. My belief comes from the way this terrible crisis is being handled. All of the things being done to deal with the downfall look good today, but they will break us down tomorrow. The steps that have been taken are wrong, and they’re a violently double edged sword.
The problem began with bad decisions by people who make a small salary buying extremely expensive homes. These people make the interest payments but pay no principle. Now, they have no equity in their homes. That’s a problem in a country with most of its wealth in middle working class equity. It seemed good, but now people realize it was a bad idea.
Now the government is trying to help by pouring money into our economy that it can’t get back. They borrow it from countries like China, and they can’t pay it back. What will happen when these countries want all of this borrowed money back, and it’s gone? The people that took it won’t help pay it back. They will have to borrow more or raise taxes badly. Maybe then people will realize these are bad ideas.
All of the “good” things that have been done have and will prove fatal to our economic system. Whatever the intention of the people involved, the world as we know it is changing. It will be harder and a more extreme change than the great depression brought.
The good that will come is people and family will be stronger and more united than ever. Family values will come back and people will go a hundred more years before things get this bad. This crisis is the best thing that could happen to this country for the next generation, this I believe.