Sunday, March 01, 2009
Economy in worst shape!
In every newspaper today, I noticed it cover housing market stabilize or how our economy will be. The Federal Reserve predicted that on last November the unemployment rate for jobless would rise to between 7.1 and 7.6 percent. But now the Fed’s estimates that ‘unemployment rate will climb to between 8.5 and 8.8 percent,’ Even though The President have signed the $787 billion stimulus package. I just realize that in our own city Colorado Springs many small businesses was thriving a year ago but began to lost money last summer before sales plunged this fall. Businesses in a right or better locations are able to stay alive but many have been closing down during this year, while closing many people is losing their job. The reason for this happen is that people are afraid to spend money on accessories for their home or even on themselves. I used to live in Vietnam when I was young, people lives are so much poorer then in the US, as reported their unemployment rate were 4.9% but I am so sure it was so much higher than that. People don’t have a lot of voice in government policy, not like over US. I experienced free speech. As for their democracy are so what zero not like in the US we at least have a lot of rights and freedom. I understand why many people from others country are trying to get in the US for work because its also involved in their freedom. I believed that whoever live in the US consider very lucky person in the world, but of course you have to work hard to get to that point.