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This is the very essence of the present article which has been briefly reviewed underneath.
USA had been the worst hit by the subprime crisis which spanned approximately between December, 2007 and June, 2009. It shook the economy through affecting some of its pillaring sectors such as manufacturing, automobiles and real estate so that little possibilities were left of the economy recovering by itself. People did not have access to ample funds or credit so that creation of demand was severely low during the phase.
The number of houses being sold by the end of September, 2007, dropped down to a 12-year low with the median house price being slashed by a whooping 13% (Chandra, 2007). A slowing economy took its toll upon the employment rate of the nation which was recorded at a five-year low of 6.1% on May, 2008. The hardest hit among all sectors had been the manufacturing sector which alone had to shed off 61,000 out of a total 84,000 job cuts (Kirchhoff, 2008).
The present situation is that of recovery where a chunk of the manufacturing sector is reviving fast owing to increased demand coming from various emerging markets. The neighboring economy of Mexico, for instance, is responsible for 71% of USA’s export figures. The present scenario promises of an economic boom not far ahead with the growth in manufacturing output meagerly 5% lower than the 2007 figures. The nation’s gross exports and business investment rates have, on the other hand, are at par with 2007 records (The Economist, 2011). This development is also spurring labor demand in the economy which is believed to hike the employment rate in the nation.
The present review helped to compare the situation prevailing in USA between 2007 and 2009 and its current state. It clearly shows a much improved state than that existing a few years ago and owes this development to the rising demand from
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This essay shall present a critique of his article, evaluating his arguments and points of discussion using the knowledge obtained in the lectures and the materials relevant to this text. Critique First, it is important to consider the different arguments which Friedman chose in order to support his contention that the world is in fact, flat.
The article started with the mention of Columbus and his visit to India. When he returned back to his kingdom, he declared that the world was round. After 500 years, when the author visited India again, and the serious of interactions and observations led him think that world had become flat.
On the other hand, they are progressing and reaching towards an easier and a more convenient life. This paper aims to discuss and describe a few of the many aspects that are being influenced by the American culture.
One feature that has been greatly influenced is how people have changed the way they dress.
ernment and its form on a periodical basis where at every 5 years or under the conditions prescribed in the Constitution the government is re-elected.
Let us now analyze each and every concept in detail. Election is the most important factor in running a democratic form of
Wynn (2001) even insinuates that conspiracy theories make sense because of the lack of logic in releasing prisoners with little or no employable skills and new addictions. This paper agrees with her that the government
One of the major changes that the act has listed is the issue of extension of Medicaid (Gibson and Singh 71). Medicaid is meant for providing insurance coverage to US citizens who are not formally employed even though its compensation is much lower compared
In his second gathering, Mayakovskys Revolver, Dickman puts such reactions to rest and affirms his position as one of Americas most powerful adolescent writers. The book shows a checked takeoff from his prior