The Greed in American Society
(The economy and the unknown
but major factors of its downfall)
Greed in American society
“Attention! All Wall Street workers the stock market has just depleted 3.9%”.
Just as the economists heard this there was a great uproar through out the nation wealthy
business men started panicking for all there life earned treasures were made to dust in seconds.
That was not the only thing that was going on after the news was told many of these wealthy
civilians were also found dead in their cars homes and other secure places in which to give up
life, hope and pain of losing great sums of money. What is going on in this society? How has
such a crisis like this come upon the people of America? What are we going to do to stop this
from affecting us even more? These may have been the exact questions roaming through the
minds of the American officials in the government.
Well, What is the factor that is affecting our country? How is the government
going to for fill the statements in the preamble? “Form a… insure domestic Tranquility…
promote the general Welfare, and secure the Blessings of Liberty to ourselves and our
Posterity”.[1] For a start why don’t we look at some opinions of what factors are effecting our country. In the international socialist review it is written that the crisis started in the housing
mortgage market, particularly the market for superficial “subprime” mortgages, and is now
dispersing beyond subprime to prime mortgages, commercial real estate, corporate scrap bonds,
and other forms of debt . This factor of major debt is one of the greatest affects in American society many people are not able to pay of the debts of housing mortgages, school tuition loans
and other loans bring up debt. Debt can be caused by poor money management, barrowing
(loans), medical bills, and gambling. Many people do not save their money they usually use it all
up in a few minuets’ moment. At other times many student especially can not pay of there loans
in housing, educational loans and etc. Next medical bills though most people have insurance the
payment for the rest of the bill is quite a task for most people for they are trying to pay of for
there other bills like mortgage and irresponsible spending. In CNN health it has been said that
above 72% percent of the American people are struggling to pay of there health care bills for the
lack of money or insurance. Another major factor in having debt is gambling many people who
gamble are in debt for they are un able to pay of their dues for they lost money in due to
gambling, Many people with gambling troubles are left with very severe debt problems.
Unhappily, it is only likely to deal with gambling debts once the gambling obsession has been
overcome. So this is how debt is a factor in economy recession.
The lack of investment in big businesses is an another factor in the cause of a
recession. Many big businesses lose money when people stop spending idealistically in matter of
speaking because of budgeting so this causes lack of jobs for many people. Recession is defined
as when businesses cease to expand, the GDP diminishes for two consecutive quarters, the rate of unemployment rises, Increase in interest rates or a decline in consumer reliance (meaning lack of customers). These things prevent businesses in expanding in investments which start to
affect the stocks and tax revenues decrease through this. Also the idealism of balance in
investments can cause down pour of the economy but this only happens when businesses don’t
save bonds. Next reason for lack of investments affecting the economy is events that hurt
particular firms or industries either a major innovation or a change in the price of a key item can
adversely affect some firms. For an example the lack of product of rice. This is one of the
reasons for an economic crisis.
Now that you have heard different view points about the cause of the recession let
me tell you my view point on the cause of this economic crisis. The economy is mainly dealings
of money which is a something not all people are able to get enough of. Money has
characteristics it can lead people to prosperity or lead them to depression. One thing is for a fact
though greed is in place when money is part of the game. Many American people waste so much
and consume so much that they don’t even notice what is consumed and wasted. As a new
electronic is just produced most little children run to the stores to get the item, when a new style
purse is displayed many woman cause a racket in getting that style of purse when a new car
comes out many run out to buy it even if it’s a gas chugger and mileages is the worst compared
to cheaper cars. The aftermath of this immense consuming is the new toy is in the trash all
broken up after three weeks or lost, the purse is out of style, and the car is crashed into a scrap of
metal. Was there any gain after this short term pleasure are was it all just a waste. America’s
society has turned into such a consuming society that it has not kept any financial securities to
help in the future themselves or there descendents. The word for this synopsis is GREED! Greed
has come through because of our unsatisfied desire for more. Our yearning and hunger blur our
vision and understanding so we make unreasonable financial decisions for a little thrill of buying
something new. This is all by the cause of greed and nothing else so now you know greed is the
main factor in the economy crisis.
