Thursday, February 5, 2009
Predicting the Depression
Gerard Jackson, an analysis for The Market Oracle, is an expert on analyzing the past and present Great Depression. Throughout the years Economic Analysis from Australia and the United States have predicted the depression years before the actual event hit. First, he explained the process in which our country inevitably hits inflation. He then brings it all together by explaining the struggle for work once inflation hits. After the example and lesson that the first depression should have given, Jackson brings all these points into the reasons why the depression is hitting the United States today. His tone is harsh against those who didn’t listen to the analysis this time around. He explains that the signs where there, the prediction was made and the government did nothing to stop inflation. This article definitely affects not just those citizens of the U.S., but any country with ties to the U.S. Gerard‘s style of writing is full of facts that support his claim and that the government failed to heed to the economies warning signs.
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3 comments:
Jackson seems somewhat frustrated in his article because he has seen this exact situation years earlier but nobody is listening. We need to learn from our past and probably take Jackson's advice on how we can possibly avoid another recession.
Everyone wants to pin the blame on the government or the "higher-ups" for the economic situation, but the truth is that it is everyone's fault. As you said, the signs were there but everyone needed that bigger house even though they couldnt afford it. I guess we will be forced to learn some fiscal responsibility as the result.
Well I have to admit I am very impressed with how well thought out this paragraph is. It is obvious that you were very interested in this topic and enjoyed finding out more on the author. I like how you stated your personal feelings, and explained why you thought this way.
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