Economic Crisis

As of this writing, the Greek debt crisis is worsening. The unrest in the streets of Athens, Greeces capital, prompted the enforcement political science activity to fire tear gas to curb protesters. The light upon engage raised as a result of the debt crisis is that if a solid ground of the size of Greece could default on its debt, it could confound a portentous domino effect on former(a) European countries such as Portugal, Spain, and Ireland. The PIGS (Portugal, Ireland, Greek, Spain) effect, as it is commonly referred to, could drag the thriftiness of otherwise European countries down as well. The economic and m geniustary experts are also predicting the demise of the European Union and/or the Euro by 2015. This currency may not even continue close to to celebrate its sweet sixteen! On the other hand, the US economy is not presentationing any signs of recovery as well. The latest unemployment numbers rose sharply again. The labor market, peculiarly for the young media savvy, educated, is extremely challenging and difficult. The accommodate market is in a continuous state of doldrums and does not appearance any signs of recovery. As a matter of fact, a fewer expert economists predicted a further 15-25% correction in the housing sector. The manufacturing index has not shown any positive improvements.

All these data points lead to unmatched to believe that we are headed for a double-deep fracture which could last for years. The overall socio-economic landscape is not in rough-and-ready shape. While the western economies are going through morphologic changes, the (g rowth) axis of the global economy has shifte! d to BRIC (Brazil, Russia, India, China) as well as Far Eastern and South African countries. Many sudden countries are growing at a clip of 10-12% annually, likewise it is believed that the financial crisis in the western countries could stop the growth of these emergent countries. Its true that for many of us, climbing the walls of worry is not easy. It is very difficult journey at a time. This leaves one with a set of questions: what really...If you want to get a affluent essay, order it on our website: OrderCustomPaper.com

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