Friday, April 20, 2012
50 Amazing Facts about Todays Economy
Due 27 April 2012. Which facts do you find most interesting and why???
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Welcome. This is a blog dedicated to the students enrolled in the CSHS AP Economics classes. Click on the title of the article, read, and click comment.
The fact that I found interesting was number 16. "Good news: 400,000 manufacturing jobs have been added since 2009. Bad news: Manufacturing employment is still down almost 6 million since 2000." I remembered when we were in class discussing how the US was trying to bring government jobs back to the US instead of overseas, it was good to see the number of jobs increase but it decreased at the same time.
ReplyDeleteThe one that I found interesting was "29. The average vehicle on the road today is 10.8 years old -- an all-time high, and two years older than in 2000." I guess it is reasonable since people won't purchase new vehicle during a recession and they are most likely to continue using their old cars. Since people are not demanding new cars anymore, companies fire people, which results in the high unemployment rate.
ReplyDeleteI found number 3 interesting. "The combined assets of Wal-Mart's Walton family is equal to that of the bottom 150 million Americans." This statistic is not the company but the profit of the family and how much they live off of. There are 313 million people in the United States, and the family owns the same amount as 48%, about half of our country's, wealth. What does a family even do with all that money? I understand that Wal-mart is an international company that dominates over other businesses, but where does the family draw the line on the amount of combined assets they want/have?
ReplyDeleteI think that the fact (Number 38) that "the Census Bureau now classifies nearly 1 in 6 Americans as living in poverty" is interesting. We have observed the decline of the middle class as more people are moving into poverty. This is interesting as that is a large proportion of the United States. The issue of poverty is becoming more apparent in our modern day society. Another fact (Number 2) that interested me is "as the economy tanked in 2009, the top 25 hedge fund managers collectively earned $25.3 billion. On average, that works out to about $2,000 a minute for each manager". We recently discussed the outrageous income earned by hedge fund managers. This statistic shocks me as some of that money could have been used to boost the economy. These individuals hold so much power over society and were benefiting when so many were suffering economically.
ReplyDeleteI found number 30 the most interesting. It said "Americans age 60 and older owe $36 billion in student loans." This is interesting because it is something that directly relates to me since I will be going to college next year. I am very surprised that people who are so old still have student loans to pay off. Also, if shows the need for legislation that seeks to help students with their loans. This fact very much supports the Student Loan Forgiveness Act. An additional interesting fact was number 38 which read "The Census Bureau now classifies nearly 1 in 6 Americans as living in poverty." This is interesting because it shows that poverty is very widespread and it seems as if it will continue throughout America unless some sort of change occurs.
ReplyDeleteThe most interesting fact was that the gap between those with college education and those with a high school education has risen by nearly forty percent! That means that unskilled workers will be suffering major consequences, meaning that our entire country will have major consequences. Also according to fact 44 unemployment is greatly skewed for African Americans
ReplyDeleteI find fact number 43 the most interesting: that about the same number of people were awarded bachelors degrees as those who filed for bankruptcy in 2010. I think this is interesting because if so many people are getting their college degrees, you would expect the bankruptcy rate to be lower. This just emphasizes the fact that in today's struggling economy, it is essential to get at least a master's degree, if not a doctorate, in order to have a chance of securing a job with a decent salary to support you and your family.
ReplyDeleteI think number 30, Americans age 60 and older owe $36 billion in student loans, is an interesting and surprising fact. The fact that over thirty years after graduating college somebody still can owe a considerable amount of money is outrageous. The whole point of going to college is to be able to find a high paying job in the future, this obviously doesnt happen for all people that get degrees. This fact could possibly discourage those on the fence about attending college and send them right into the work force after high school.
ReplyDeleteI thought that number 45 was the most interesting fact on the list. Although our population has grown exponentially, the taxes that we've developed in order to receive revenue has not grown with it. Could this mean a loophole? And does that imply the lack of discipline or security that our government holds? Perhaps. The fact that over a decade had passed between 1997 to 2009 and our tax revenue has no changed, is unbelievable. The policies enacted or removed seem to have no kind of economic effect and this poses as a real danger. Sooner or later, everyone will jump on the bandwagon and find a way not to pay as much, and that means those who are joining us in the world will have to suffer for them.
ReplyDeleteI think that number 30 was the most interesting on the list because of how much money people 60 and older owe on student loans. I think this fact really got my attention because of how close i am to going to college. i know that i will need to get a loan for school because i probably won't have enough money to pay it off right away. It's scary to think how many billions of dollars people now owe now for their education that they received years and years ago.
Delete#40.... 'nuff said....
ReplyDeleteIn 2009, 5% of Americans accounted for 50% of all health care costs... I mean, how crazy is the status of healthcare in the world that this could happen?