Earning Money

Ever since the recession has started deepening, I’ve often wondered where many college kids will go work. Some of the largest employers of recent college graduates were Wall Street firms, whether they be investment banks or hedge funds. Now that those jobs are all but gone, studnets are looking elsewhere for work.

Many are just giving up on finding work in the near future and opt for graduate school. Often, this just makes themselves feel like they are still accomplishing something, even if all they really are accomplishing is spending their parents money or driving themselves into debt.

Some of the largest firms that were hiring college kids were what got us into this mess. The credit bubble created a bunch of jobs for awhile for college kids. It was the credit bubble that got us into this mess; the question is if the industry that starts employing a lot of college kids turns out to be the one that gets us out of this mess.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Whether you live in America, Canada, Japan, India, China, Britain, or any other nation, there is no denying that these are incredibly tough times when it comes to the economy. The dollar is losing value, the stock market is plummeting, consumer purchases are down and when it comes down to it, people are worried more about paying off their debt than they are worried about spending their money on buying a new laptop, a new guitar, or other things (that’s what I want). But, one thing that people are hesitant to talk about is the thought of entering a recession. THAT scares people.

But, the big question is: are we entering one? There are a lot of different beliefs right now going around the word of economists. Some say that we are getting dangerously close to a recession and others say that we are not there yet and that we still have time to recover. Regardless of what exactly is going on, what I can tell you is that the economy is pretty messed up right now. People fear spending. They’d rather save and governments around the world are trying to figure out how to really fix what is going on. But, to do that, they need to address the problems. Here in America, I can see a few problems:

• Oil prices: $100 a barrel is a lot of money and if I have to spend so much of my money on gas, I don’t have enough to spend on other goods. So, naturally, the economy starts to deteriorate.
• Jobs: Jobs are being sent overseas. It benefits the company, but not the nation. Without jobs here, no money to earn. Without money, no money to spend. No spent money, no profit for the company.
• Housing market: There’s no denying that there is a crisis in the housing market right now. People can’t pay their mortgages and they are losing their homes. The housing market is really screwy right now and it’s causing a lot of problems.

So, what can we do to fix this? If you’ve been following the news, you’ll know that George Bush and Congress are agreeing on a plan that will allow for $300 to be sent to each individual who earned at least $3,000 last year. To him, it’s a shot. This bipartisan plan will hopefully give the economy a bit of a boost. And we all know that the economy needs that boost. Jon Waraas talked about how Apple is taking a beating. The economy is desperately shaky and it’s going to continue to get worse if things aren’t fixed.

Can the $300 work? It can help. But, other things do need to be fixed as well. Are we entering a recession? I think we are. I think that we are going to continue going downhill unless something can be done. If we continue on the path that we’re headed, whether you work online or offline, for yourself or for someone else, we’re all going to feel it. We’re all going to feel the pains of less money because advertisers are spending less money. I only hope that the economy can be fixed so that we can have strong years again. So, if you have some extra money hanging around, treat yourself to dinner or something. It all helps boost the economy.

If you enjoyed this post, make sure you subscribe to my RSS feed!