The Warning, The Blame

                                                The Warning, The Blame

The U.S. economy is always changing, in both positive and in a negative way. Who is to blame for our global economic crises? There are methods of controlling it in order to make for a more steady and positive growth. Is it our government, a group of men, or an individual that thought that his way was the most effective. Did we see the signs or did we believe that the government would run our society responsibly and economically. As for one-man name Alan Greenspan believes, the government isn’t the solution to our problem; government is the problem.

Government manipulation of the U.S economy is a huge cause that is creating negative controversy within our society. During the Ford administration, the government hired a man name Alan Greenspan who dominated the economy and made himself rich on Wall Street. Alan Greenspan played a significant role in causing our recession. His position was the National Treasurer and had an ideology about the regulation towards the economy. As being the treasurer, he had the power to emphasize the free market as an insider rather then as a critical pamphleteer. Greenspan defended his record regarding his role in instigating the Fed’s monetary policy prior to the financial disaster. Greenspan worked closely with President Clinton and his Treasury secretary, Robert E. Rubin and Larry Summers. In Times Magazine front cover states, “They were known to the nation as the committee to save the world.” At that time, they were the commodities that Americans turned to. 

Another cause to the recession that the big three as I like to call them played a role in derivatives, which is defined as two parties making bets and involving Wall Street, it was known as the “black box” a market worth twenty seven trillion dollars. This happened out of sight and the government did not know too much about it. For nearly thirty years, Greenspan and his colleagues have been the mastermind’s behind the scenes, along with the CEO greed masters on Wall Street of this economy and other failures such as saving and loan, WorldCom, t­elecom, dotcom, mortgage and banking.  Even when the commodity futures trading commission (CFTC) warned them, they still continued to ignore it internally. The big three would have meetings through out the years about this fraud and say nothing is wrong. Derivatives the word itself is making our nation its money, oh that’s right it’s not its fraud. Now look where the US economy today and where we are all at. The big three sure knew what they were doing wait, I guess they did not. Once everything fell apart, it was now the governments job to help fix this problem. The big three and their free trade idea is paying off by the US helping build the GDP in other countries and making their economy better. An as for the U.S, were stuck with the big fat bill on helping the big banks struggling with their mistakes.

The government isn’t the problem; the problem is that the government believed in something that just didn’t work. Can anything be done? Yes! First big cooperation needs to restore the jobs that we have given to foreign countries and bring them back to America.

With this we need improve the education system so that the students of tomorrow can be ready for any type of work force of the future.  By restoring the employment within our nation, this would help improve our economy. This would also help improve our Gross Domestic Product (GDP). Will big corporations lose money at first, yes! But the idea is to help our economy in the long run. Big corporations bosses can live without making bonuses for a few year. Its time for the rich to stop getting richer, and it is time for the low poverty to start making money.  The government needs to stand for the people and not the investors in Wall Street. The government needs to step up and take control of this financial status and stop listening to Alan Greenspan and his colleagues.

Is our recession going to get better? Or perhaps we look like fools being drawn to a global economic game? Will the government make another mistake once again in trusting the wrong people? It is time for the government to get off the seat and take a charge. The government needs to control of the economy and create regulations that will help improve the economy from now and going forward. The government is now the solution.