http://www.coloradoan.com/story/money/2014/04/13/column-recession-lessons-learned/7545227/
After the Great Recession the United States has reanalyzed how it handles its finances. This occured on a national level, but also on and individual level. This article describes the great advances that United States citizens have made in making more responsible investments. One of the more impressive statistics is that bankruptcy filings have decreased by sixteen percent in the past month. These trends are very similar to those that occurred after the Great Depression and hopefully point towards a more fiscally responsible United States..
It is great news to hear that bankruptcy filings have decreased but what does that really mean? You stated that our economy is moving towards a more fiscally responsible and my question is why not monetary policy??
ReplyDeleteI think this is an interesting article and definitely outlines some good points regarding things to learn and take away from the recession. I just fell like a lot of the life lessons are just Americans learning to be more thrifty and such, but what is the likelihood of us as a country staying this way? The article mentions the Great Depression a lot and how those that lived through it had some great learning moments but obviously they didn't stick around to 2008.
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ReplyDeletePeople not being as bankrupt should be a good sign for the economy. As this occurs, hopefully more people will invest as interest rates are lowered, raising GDP and a higher standard of living for Americans
ReplyDeleteDecreased bankruptcy filings are a good thing for the American economy but I think a more important statistic that should be looked at is unemployment. Bankruptcy filings means that those with money are now keeping their money and have changed their spending habits from the early 2000's. Thriftiness is a good sign but the economy won't truly be on the rise unless those without jobs are now getting jobs, however, those with jobs and money keeping both is a good sign for an economy on the rise
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