There is a constant speculation regarding the current state of the U.S economy now. I'm not really affected by it because I'm studying and all but I'm wondering how serious it is out there in the real world. Some speculate that this current economic crisis may be the next Great Depression. I am learning about the Great Depression in my American Experience class and its not a pretty sight. Over 11 million people were unemployed at the height of the Great Depression. About 25% of the total population. And it was stretched from 1929 to right before the Second World War, around 1940.
Scary right? I really hope it will not happen again. Not only will it affect the U.S, the whole world will be affected too. Even now, the sales in U.S have dropped. People are spending less and less because of the economic crisis now. Everyone is getting all so uptight and stressed about their financial situation. I hope my family back in Vietnam aren't too affected by it.
I have been spending very little lately too. As I mentioned before, I used to visit the malls every week or so. But now, I do it once every month and even then, I rarely buy anything. I think I just came to realize that I cannot wear that many clothes anyway so why waste so much money? However, there are some essential stuff that I still want to buy though. Like a camera.. or maybe an iPod. Haha.. but its still in the thinking process.
Its good that companies like Zenni Optical offers cheap eyeglasses. You can get a pair for around $8! Can you believe that? That's because they don't go through middle people and they spent less on advertisements. With companies like this, everyone would be able to get cheap eyeglasses without having to worry about the prices.
Sigh.. I hope things improve for the better soon.
4 comments:
what goes up must come down. honestly, do u think we can seriously live in a world where "everyone is rich". it is actually a fake concept... someone somewhere out there has to get rich or... the riches are all fake.
recent events have shown that all the money made by the rich though the so called financial masterminds are all in a way 'fake'.
i am lining up some entries on this... just too many things to blog about now...
yes, the last time there was a depression, it needed world war 2 to sort it out. one would wonder what will happen this time round.
and oh... what is your family doing in vietnam?
zewt,
Hey! Long time no see! =) What do u mean by the rich people in the worlds are fake? I read in my International Relations textbook that the three riches people combined have more money than the GDP of the 40 countries listed as "developing" nations. That included the Wal-mart family and the sultan of Brunei! Can u imagine that? Horrible.
My family moved to Vietnam coz my dad had to work there! =)
fake here refers to ppl who made money from paper gain. hard to explain.
yeah, dont u think ppl get too rich and to know that a lot of ppl cant even afford to eat a bowl of rice a day is a bit... inhuman...
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