Why is Our Economy Depressed?

Summary

The article discusses the current state of the economy, attributing its depressed condition to the global impact of the novel Coronavirus and the resulting job losses, while also suggesting that societal behavior and systemic changes are necessary for recovery.

Abstract

The economy is facing a modern-day global depression, largely due to the effects of the novel Coronavirus. The article highlights that a significant portion of the population has been affected by job losses, with even middle-class families earning $40,000 per year experiencing unemployment. The author suggests that the future is bleak unless changes are made, including taking precautions against the virus and rethinking economic policies that burden future generations with debt, such as the need for loans to attend college. The piece calls for a collective effort to push back against the virus and return to normalcy, while also acknowledging that the current situation may lead to a reevaluation of global economic standards. The author emphasizes the importance of proactive measures and open discussion about the nation's hardships to improve the economic outcome.

Opinions

The author believes that the economy is in a state of depression, comparable to a global economic downturn, due to the impact of the novel Coronavirus.
There is a critical view of the current system that requires students to take out loans for college education, indicating a failure in the provision of affordable higher education.
The article expresses that people need to be more cautious and considerate in their actions, such as maintaining social distance and practicing good hygiene, to combat the spread of the virus.
The author is skeptical about the economy reaching a 'peak' like Mount Fuji, suggesting that the descent from the current economic situation may not be as steep as hoped.
There is an opinion that the economy's downturn may lead to positive changes, potentially altering global economic standards for the better.
The piece advocates for a proactive approach to dealing with the crisis, emphasizing the need to adapt and resume normal activities with necessary precautions, rather than waiting for the situation to improve on its own.
The author acknowledges that their perspective may not be universally accepted but stresses the necessity of discussing the challenges faced by the nation to influence a more favorable economic future.

An insight into the shocking reality of the economy

Are we all depressed or is it just the economy of America that is putting us down? The answer isn’t so easy to diagnose.

With all that is happening in our world in the current day, people haven’t had the time or wanted to stop and smell the coffee. Life can be such a beautiful thing, but the current stats of life are creating a doom and gloom picture for all generations of a living being. If you just stop to think about the world as a whole today, you can understand how easy it would be for the world to just crumble like a cookie beneath our fingers.

Just the impact of the novel Coronavirus circulating the economic system has created just enough damage that our economy is in a modern-day global depression — circling the drain. A drain represents just how fast everything could slip away from us if we aren’t suddenly careful about how we treat one another and the world.

Why make it so that the future generations must create a mortgage on life?

The fact of the matter is that a person of a higher power has made it so that a student can’t attend college-level courses today without taking out a loan. Why is that? Well, let’s take a delve deeper into the grand scheme of things.

What can be done to fix this crisis??

In terms of the virus: People just need to learn to stay away from one another and take extra precautions such as wearing a mask and gloves at all times in public. I find that many people still do not sanitize their hands after touching something in a public space. Gross!

In terms of the economy: In light of recent events, not all is lost even though people are acting on impulse instead of thinking of greater things to change the system. The last Great Depression did start in America whereas this disease that stomped our economy started in China. So, is there a possibility that we are moving up on standards? Maybe not so much.

I think that we need to push the virus back and focus on returning to our every day normal lives instead of cowering in the darkness waiting for the storm to pass. If we have to wait three or five more months just to go back to school and work (while still wearing masks), where do you think the status of our nation will be then?

Far from saving.

**AN IMPORTANT NOTE: This article was just a beginners’ guide to opening your eyes on future impacts of the nation and what may be done to better change the outcome of things. I am very well informed that my opinion may not be valid in some eyes, but I feel it is necessary to talk about the status of hardships.