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Essay / Research Paper Abstract
This 3-page paper discusses the macroeconomic factors occurring in the U.S. economy. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: AS43_MTusmacron.rtf
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Unformatted sample text from the term paper:
States is moving from an economy of consumption (i.e., buy, buy, buy) and increasing debt and more toward exporting and savings (Time to rebalance, 2010). According to a recent article
in the Economist, almost every industry in the United States has shed jobs, but those catering to consumers - such as residential construction, banking and the automotive industry - have
had a further decrease (Time to rebalance, 2010). Says the Economist, "the bubbly asset prices, ever easier credit and cheap oil that fuelled Americas age of consumerism are not about
to return" (Time to rebalance, 2010, p. 3). Consumer debt is on the downside (as is consumption) as credit remains tight - the number of credit cards in circulation declined
by almost one-fifth in 2008 (Time to rebalance, 2010, p. 3). On the positive side, tighter credit and more focus on savings means
people arent as careless about their funds - rather than borrowing to excess and having thousands upon thousands to pay off, people are focusing on reducing their debt to more
manageable proportions and are, for the first time in decades, living within their means. But the problem, as the Economist points out,
is that tight credit and lower consumer borrowing tend to help restructure the economy. This is not to suggest that people need to go back to the days of profligate
spending and borrowing. But it does suggest that something needs to be done to encourage a little more spending in the coming months and years. However, as the Economist points
out, "Americas imbalances were years in the making and will not be undone overnight" (p. 3). Easy money and over-spending are finished, but something needs to be done to loosen
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