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Essay / Research Paper Abstract
A 10 page paper that discusses the premise that the U.S. is in a financial bubble. What is a financial bubble? That is explained. Economists agree the economic 'recovery' has been a cycle of starts and stops, leaving experts and executives very cautious. More than 2 million jobs were lost between the early part of 2001 and June 2003 but over the last two months, almost 250,000 new jobs have been created. This essay discusses some of the reasons for the 'bubble' effect and the steps that may need to be taken to emerge from this state. Bibliography lists 4 sources.
Page Count:
10 pages (~225 words per page)
File: MM12_PGbubec.rtf
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Unformatted sample text from the term paper:
this perspective, we gain an idea of why recovery is not happening more quickly (Puplava, 2003). He goes on to comment that for the last two years, the U.S. economy
has been one of stop and go, start and stop (Puplava, 2003). Leonhardt also commented on the cyclical stop and go economy over the last few years (2003). Leonhardt noted
that Atlanta has consistently seen the economy take a dive in October or November of each year (Leonhardt, 2003). James H. Reece, who is president of Rahdstad North America, said:
"If you look back over the last couple years, this (2003) is the first time weve made it to October or November without seeing the economy turn down again" (Leonhardt,
2003). Reece heads 28 temporary-help offices in the general area of Atlanta (Leonhardt, 2003). Steps intended to stimulate the economy do just that but as soon as that stimulus stops,
so does the growth of the economy, thus, start recovering then stop recovering (Puplava, 2003). Low interest rates, cuts in taxes, whatever, is need for the economy to keep going
(Puplava, 2003). Puplava calls it a "bubble economy where real economic growth has been anemic, job growth has been nonexistent, and business fixed investment has been absent" (Puplava, 2003). Just
as any bubble needs continued air to keep floating, the economy needs continued stimuli to keep growing. Without continued and constant stimuli, the economy sputters along today (Puplava, 2003). This
is vastly different than in the past when stimulus packages were enough jump-start the economy and it then continued to grow without such interventions (Puplava, 2003). The economy has only
squeaked along through these sputters as a result of: 13 interest rate cuts; 3 tax cuts; significant government deficits and "record growth in money and credit" (Puplava, 2003). And, all
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