by Alfonso Coley

Created on: October 02, 2008   Last Updated: October 08, 2008

Economy Sound or Economy in Danger?

The present economic crisis that the middle class of America feel is a stinging reminder of President George Bush failure to administer a pre-emptive plan that would have given the working class of America some reassurance and security when a financial crisis arisen. In the last few months there have been so many conflicting messages about the condition and state of the economy; it would have made one wonder if any of these economic advisors to the White House would have thought that the real truth would not be exposed. And now, the demon lust of corporate America corruption and the miss-management, and knowing fraudulent practices of CEO's and executive administrators have revealed what most of us knew what was coming. Now that the truth has been exposed on how fragile our U.S. economy is, this does not give any solace or comfort for the many people and families whom have lost their home and job. The unrelenting burden of our sinking economy has brought about many Americans to re-evaluate their spending habits and become more involved in the political and financial process pertaining to matters of financial stability, credibility and our U.S. Congress transparency.

Two months ago, President Bush said that-"the economy is resilient and strong, and there is no need for Americans to worry about the health of our financial institutions." How ironic, two months later Wall-Street stock hit an all time low, and not since the great depression have we seen so many financial institutions file for bankruptcy and other once prosperous American businesses fall from grace.

According to Global Issues.org-"While the world is globalizing and the mainstream media in many developed nations point out that economies are booming (or, in periods of downturns, that the current forms of development and economic policies are the only ways for people to prosper), there is an increasing number of poor people who are missing out on this apparent boom, while increasingly fewer people are becoming far wealthier. Some of these facts and figures are an eye-opener, to say the least. Writer and political historian Anup Shah article on the "Causes of Poverty", (September 03, 2008) has summed up our present economic and financial condition perfectly.

Our nation's financial standing is crumbling away, and beneath our feet lay the many years of neglect and criminal activity from corrupt business practices of well known U.S. companies. There are too many personal business owners and manufacturers to list on how the economic crunch has affected their capacity to produce and stay afloat in these unstable economic times.

The most prolific acknowledgements of famous political and financial figures have voiced their displeasure of our nation economic standing. The Senate decision to pass the 700 million bailout package was a bold move to help give that needed spark-that may help rejuvenate the sagging and pitiful U.S. economy. Unfortunately, due to the premature closings of Lehman Brothers, AIG, Fannie Mae and Freddie Mac, this may the beginning of a dangerous trend that is sweeping across our nation. Is this the beginning of the end of American prosperity for the middle class workers of our great nation? Can the next president repair our national debt and return the pride and honor to our tainted homeland?

Additional Resources: http://www.globalissues.org/issue/1/trade-economy-re lated-issues

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