After watching the the video "Inside the Meltdown" you see the foundations of the our economic recession. What misconceptions do you feel the average american has about the economy, economic stimulus and the our government's role in the problem?
I feel like the average American doesn't understand the interlinking of one company to another. This is generally why businesses receive bailouts and we don't understand that. We think the government is loose and foolish with their money and that they're just giving handouts to businesses we believe should be allowed to fail. The truth is really that there are numerous economomist behind these decisions and they all happen because those people discover they are nessecarry.
The average American has no idea how the economy truly works. The bailouts were necessary and all the economists could have done was make the most informed decision possible at the time, which I believe they did. Americans just see the decision they made caused recession, but really they only had a 50/50 chance.
I think that most Amercians dont realize that there to blame for the economy the way it is. If people would of made smarter decisions where they spend their money we wouldn't be in a recessions. A lot of people blame Bush and Obama for how America is today but really they are just trying to fix our mistakes.
I think its hard for anyone to truly understand how the economy works, beccause there are things we dont see happening with the government. I think that people dont realize if one bank goes under that it hurts everyone. If one bank goes down more and more will fall until the government steps in to bail them out. Most people dont think what happens half way around the world will effect them.
I think it is difficult for the average American to understand economics because there are many different aspects of it. Most do not understand that companies connect together and depend on each others survival in order for their own company to survive. Many Americans probably disagree, but i believe that the economists made the right decision in order to save businesses and save the United States from a possible depression.
I think that it is difficult for Americans to understand what is going on in our economy because they dont know enough about the way our government works. Another reason why people dont know is that the government discloses information to the public and sometimes lie to the people to save their own ass. I believe that people do not realize that if one bank goes down it affects everyone in the country even if you dont have money in the bank. Most people think that if something happens halfway around the world it wont affect them.
I think the people that don't understand what's going on are the ones who get mad about the bailouts. If they understood the fact that the big businesses affect other businesses around the world they might understand why it was so necessary to bailout them out. It's understandable that people get mad because they think the businesses won't learn their lesson because they didn't earn the money their receiving. But, sometimes you have to do what you have to do.
Typical people in the united states really do not understand everything that goes into the economy. They unfairly judge when they truley dont even know what happened. If they truely knew what went on behind the scenes, the american view of the economy would be very different.
Theres no average American that truly knows everything about the economy we only understand the basics. They really don't have a true understanding of what actually goes on behind closed doors. They judge only on what their told which may not be the whole truth. If something doesn't affect someone they usually don't care.
I think that people need to know the whole truth. The bits and peices that they are finding out or do know dont really fit together to well. People dont understand the affect of one big bank going out of buisness. They also don't understand that what happens all around them including around the world has been and always will be affecting everyone.
Most Americans think that the economic pboblem started with the banks giving out bad loans to people that couldn't pay them back. The only thing is that, that is only some of the problem the other problem is Bush giving out tax breaks when we had a war to pay for. People also blame the recession on the stocks crashing.
I feel like the average American doesn't understand the interlinking of one company to another. This is generally why businesses receive bailouts and we don't understand that. We think the government is loose and foolish with their money and that they're just giving handouts to businesses we believe should be allowed to fail. The truth is really that there are numerous economomist behind these decisions and they all happen because those people discover they are nessecarry.
ReplyDeleteThe average American has no idea how the economy truly works. The bailouts were necessary and all the economists could have done was make the most informed decision possible at the time, which I believe they did. Americans just see the decision they made caused recession, but really they only had a 50/50 chance.
ReplyDeleteI think that most Amercians dont realize that there to blame for the economy the way it is. If people would of made smarter decisions where they spend their money we wouldn't be in a recessions. A lot of people blame Bush and Obama for how America is today but really they are just trying to fix our mistakes.
ReplyDeleteI think its hard for anyone to truly understand how the economy works, beccause there are things we dont see happening with the government. I think that people dont realize if one bank goes under that it hurts everyone. If one bank goes down more and more will fall until the government steps in to bail them out. Most people dont think what happens half way around the world will effect them.
ReplyDeleteI think it is difficult for the average American to understand economics because there are many different aspects of it. Most do not understand that companies connect together and depend on each others survival in order for their own company to survive. Many Americans probably disagree, but i believe that the economists made the right decision in order to save businesses and save the United States from a possible depression.
ReplyDeleteI think that it is difficult for Americans to understand what is going on in our economy because they dont know enough about the way our government works. Another reason why people dont know is that the government discloses information to the public and sometimes lie to the people to save their own ass. I believe that people do not realize that if one bank goes down it affects everyone in the country even if you dont have money in the bank. Most people think that if something happens halfway around the world it wont affect them.
ReplyDeleteI think the people that don't understand what's going on are the ones who get mad about the bailouts. If they understood the fact that the big businesses affect other businesses around the world they might understand why it was so necessary to bailout them out. It's understandable that people get mad because they think the businesses won't learn their lesson because they didn't earn the money their receiving. But, sometimes you have to do what you have to do.
ReplyDeleteTypical people in the united states really do not understand everything that goes into the economy. They unfairly judge when they truley dont even know what happened. If they truely knew what went on behind the scenes, the american view of the economy would be very different.
ReplyDeleteTheres no average American that truly knows everything about the economy we only understand the basics. They really don't have a true understanding of what actually goes on behind closed doors. They judge only on what their told which may not be the whole truth. If something doesn't affect someone they usually don't care.
ReplyDeleteI think that many Americans don't understand that when the government spends money, the money tends to stay in the US economy.
ReplyDeleteI think that people need to know the whole truth. The bits and peices that they are finding out or do know dont really fit together to well. People dont understand the affect of one big bank going out of buisness. They also don't understand that what happens all around them including around the world has been and always will be affecting everyone.
ReplyDeletei think that like me most americans dont understand it but i do understand that we caused this and everything else thats going to shit
ReplyDeleteMost Americans think that the economic pboblem started with the banks giving out bad loans to people that couldn't pay them back. The only thing is that, that is only some of the problem the other problem is Bush giving out tax breaks when we had a war to pay for. People also blame the recession on the stocks crashing.
ReplyDelete