21st Economic Crisis Free Essay, Term Paper and Book Report
Our economy is like Wall Street; what goes up, must come down. People most affected by recession are those in the middle and working class families.
Because of the unstable economy, companies are threatens to downsize their employee work forced and closing doors are their next options. Many companies are laying off their employees. The loss of a job threatens many working class and middle class families with the threat of bankruptcy, because of the increasing accumulation of consumer debt. (Whiting, Sept. 1998) Jobs were hard to find; in addition, most people by without the choice, but were forced to sell their homes; many of them moved to other states. Most of them took low paying jobs to support their family. The unfortunate ones took from seven months to a year before they could find a decent job; however, "we have every reasons to maintain confidence in the US economy" according to Treasury Secretary Paul O'Neill. Others who are fortunate could sit and wait or started their own business, and the rest either take out a home equity loan or refinance to lower their mortgage paymen......
Word Count: 821
Page Count: 3.2 (250 words a page / double spaced)
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