Posted on November 11, 2009 by jia zhou

The economic situation is worst than we think, and we have to take the partial responsibility for it. Although we are not the top decision maker, in some way, we might be the one contribute to this problem to occur recently.
Maybe we, American had too much fund available for us to use in the past, and we simply use them recklessly, without the planning whether or not we will be able to pay them back. These money we had to buy cars, fancy clothing; fancy watches; or even dinner; traveling; even partying are mostly borrowed money from the banks. We just kept on having debt, and recklessly spend and spend. Eventually, we default on debt, or we don’t have enough to pay them all back. This action is like chain affect, and many people had done the same.
Eventually, the whole financial system collapsed, and we simply couldn’t afford to lose that much. Most people simply file under chapter 7 or chapter 13. Claims bankruptcy, and leave our government to clean up the mess for everybody. With Our president elected Obama, his astronomical number of dollars stimulus packages help survive some businesses, also it down the U.S. dollar value in the international market place. Although the current news spreading that our economy has a sign of recovery. I afraid the truth is to be for while to recover the marketplace before recession.