Let's Sum It Up: The Crisis

Jobs, Debt and Home Prices Since the Crisis, in Five Charts
NPR
September 13th, 2013
Author: Quoctrung Bui
http://www.npr.org/blogs/money/2013/09/13/222063196/jobs-debt-and-home-prices-since-the-crisis-in-four-charts

In this news article from NPR, we have been given an overview of the status of the nations economy after the Crisis. There is still controversy between a few people who believe that we are still in the crisis, but I think that it is safe to say that America has gotten back up on their feet.

According to Google, an economic crisis is a long-term economic state characterized by unemployment and low prices and low levels of trade and investment. In other words, the Crisis that occurred a few years ago caused a huge drop in the economy, and considering America has a very complex system as to where an economic depression is hard to come by, a lot of people, including close friends at home, experienced it.

SO! The Crisis. In five charts. In the article it states:

1) Home prices have rebounded

During the crisis, it was the worst time for many people who were moving in and out of houses to get home prices that they could pay for, and/or could make living of off. This is partly because of huge amounts of debt due to unemployment. During the depression, many companies couldn't afford to keep as many employees because they weren't making as much money to make a profit.

2) Household debt has fallen...

Since the depression, families have been able to uphold employment due to the government opening up more job opportunities in order for families to keep up necessary payments to the economy in order for bills due. More people upholding their households=a cleaner government debt.

3) ...but student debt has grown

Student debt is a form of debt that is owed by an attending, withdrawn or graduated student to a lending institution. This is also according to Google. Google is your friend. According to what we have learned so far about economics, the most expensive cost about going to college is giving up the ability to work. During the Crisis, students, no matter at what part of school that they are taking part in, were losing money and the end of the Crisis couldn't do much to help that situation. The greatest mystery about the economy is how to give experience to students who do not have any work experience. Well that situation might need to go to the government to fix.

4) Workers' weekly earnings are up, but household incomes are down...

Yes, as said before, more households are being employed with more money, but also said before is that the money is being spent on bills, student tuition, etc... There hasn't been much income for personal use of the workers.

5) ...because fewer people are working.

To sum up the whole economic Crisis, the depression, the topsey-turvey economy, yes. More HOUSEHOLDS are being employed, however the population of America has been growing and will continue to grow because many people from other countries are coming to America BECAUSE of the "opportunities" that are being offered. But how can we give such great employment to immigrants when we can't even take care of ourselves?

We will have to see in the upcoming years!