You know how the US has been in an economic turmoil since early 2008? Well, just to add insult to injury, US has lost its title of world's superpower and knocked down to second place. Switzerland now has the world's most competitive economy.
The crash of the US Bank and the need for financial circulation caused this economic downfall because of its huge investments in banks. Consequently, budget cuts were made to different industries, such as business corporations, which caused unemployment rates to an increasingly high amount. With many people without jobs, business failed because of decreasing abundance of consumers. Without consumers, the economy wouldn't produce sufficient amounts of money.
I think the nation needs to put their differences aside because we have a great new president leading us. Obama should come up with a job stimulus so that unemployment rates will decrease on a significant level. This way, the economy can pick itself up and start functioning again. Moreover, the distribution of wealth needs to even out, mostly for the middle class, who are the nation's major consumers. The rich who take up most of the nation's wealth need to donate to the lower class, or organizations that help uplift those who are suffering from US's economy.
The U.S has been in a downfall in economy. Switzerland may have the economic growth but still doesn't have the politic effect that the U.S has. So what if the U.S is the second superpower Switzerland cannot compare to the effect the U.S has over the world. Not only that but the U.S has resources that Switzerland lacks and even though the U.S economy is down we eventually will overcome the issue.
ReplyDeleteI think this can serve as a wake up call for the United States; it needs to capture back this "selfish" title. Since the United States is a world super power, many countries have had their economic systems "crippled; the effects of our economy has rippled to theirs. I agree with Yomi, we might not contend as the "first" but we still have the ability to maintain the position. Obama will guide us in the right direction, and bring us back to the top.
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