Recession Vs Depression - Part 1
WHAT HAPPENED TO THE ECONOMY? Recession, Depression, Recession, Depression, I'm pretty sure you hear these words repeated on the news, radio, online, and any other media outlets everyday.
We are all familiar with the current economic conditions, the question I have today is how did the economy get to this point? In this article I will be talk about some of the key contributors to the current economic state.
The first party to blame for the economy is the school system.
Now I know that some you may be surprised by my first choice and some may not.
I choose the school system because everyone in this country has or will to go through the system at some point, so the quality of information must be at a high level.
You should be able to graduate from high school with some type of financial literacy.
Think about it, in most public schools from pre-k to 12th grade you are taught everything from math to science, but no classes about money.
I went to M.
B.
H.
S.
in NYC which happened to be a business career school, so we we're fortunate to be exposed to some of the different careers path available in the job world.
What my high school didn't teach me and what most public schools don't teach is "MONEY...
yes money".
We learned about all these different ways and careers to earn money...
yet we are never thought what to do with it once we get it.
Think about, you could be earning $150k each year but if you just go out and spend it and pay bills then what...
you're broke (that doesn't make sense).
There are so many people who have jobs with good pay but are broke.
I believe this is partly due to our poor educational system.
We need to have classes in our public schools about the value of a dollar.
We should be educated on the different tax strategies and laws, the various types of business entitles, mortgages, stocks, bonds, equities, real estate, financial trends, etc, in our public school system, this is key.
In order for the U.
S.
to prosper as a nation financial literacy must be taught in the public school system at a young age.
Some parents have the ability to teach there children about financial literacy, but in most cased the parents them selves are financially illiterate.
Teaching a child how to manage a saving account may in the future equal one less person on unemployment, or maybe even one less person going into foreclosure.
Think about that...
the foreclosure rate in the U.
S.
is at an all time high (INVESTORS TAKE NOTE).
If you look at it on a smaller scale, look at the average family going into foreclosure, there regular people just like you and me.
The difference is in most cases there spending habits began to take over their personal economy, which in time hindered them from paying their mortgage which turns into foreclosure or a loan mod (which you don't want).
For the sake of the U.
S.
dollar (which has no value), the U.
S.
(as well as other nations), need to make sure that its people are educated financially or recessions and depressions like this will continue to take place.
NOTE: I also feel that high school students should be able to leave school with some type of training in which they will be able to come out and get a job upon graduation, EX: Real Estate License, Nursing Cert.
Electrical Cert, thing that you can pick up at a trade school.
We are all familiar with the current economic conditions, the question I have today is how did the economy get to this point? In this article I will be talk about some of the key contributors to the current economic state.
The first party to blame for the economy is the school system.
Now I know that some you may be surprised by my first choice and some may not.
I choose the school system because everyone in this country has or will to go through the system at some point, so the quality of information must be at a high level.
You should be able to graduate from high school with some type of financial literacy.
Think about it, in most public schools from pre-k to 12th grade you are taught everything from math to science, but no classes about money.
I went to M.
B.
H.
S.
in NYC which happened to be a business career school, so we we're fortunate to be exposed to some of the different careers path available in the job world.
What my high school didn't teach me and what most public schools don't teach is "MONEY...
yes money".
We learned about all these different ways and careers to earn money...
yet we are never thought what to do with it once we get it.
Think about, you could be earning $150k each year but if you just go out and spend it and pay bills then what...
you're broke (that doesn't make sense).
There are so many people who have jobs with good pay but are broke.
I believe this is partly due to our poor educational system.
We need to have classes in our public schools about the value of a dollar.
We should be educated on the different tax strategies and laws, the various types of business entitles, mortgages, stocks, bonds, equities, real estate, financial trends, etc, in our public school system, this is key.
In order for the U.
S.
to prosper as a nation financial literacy must be taught in the public school system at a young age.
Some parents have the ability to teach there children about financial literacy, but in most cased the parents them selves are financially illiterate.
Teaching a child how to manage a saving account may in the future equal one less person on unemployment, or maybe even one less person going into foreclosure.
Think about that...
the foreclosure rate in the U.
S.
is at an all time high (INVESTORS TAKE NOTE).
If you look at it on a smaller scale, look at the average family going into foreclosure, there regular people just like you and me.
The difference is in most cases there spending habits began to take over their personal economy, which in time hindered them from paying their mortgage which turns into foreclosure or a loan mod (which you don't want).
For the sake of the U.
S.
dollar (which has no value), the U.
S.
(as well as other nations), need to make sure that its people are educated financially or recessions and depressions like this will continue to take place.
NOTE: I also feel that high school students should be able to leave school with some type of training in which they will be able to come out and get a job upon graduation, EX: Real Estate License, Nursing Cert.
Electrical Cert, thing that you can pick up at a trade school.
Source...