(Picture courtesy of nassaulibrary.org)
While surfing the net, poking around here and there, I ran across an article on a theme that, as I've said before, intrigues the hell out of me: Ten Years From Now. Our class doesn't have an official theme per se, but we do have some "framing" here and there for what we're going to be talking about and writing about. The more I think about the topic of Ten Years From Now, the more I like it. So I found this little article, and I'm submitting it for Exhibit A.
The article's a relatively quick read: about 10 minutes for the first skimming, and then probably another 15 for more in-depth stuff. Some things to think about when forming your response (you don't have to hit everything, or any of these; these are merely suggestions for jumping-off points):
- This article was written in 2007. How much of this has come true? How much of this was garbage that has not come true?
- In the end, this is a political advertisement. How effective is it? Did it sway you in your thinking about the coming ten (now 7) years?
- Who the hell IS Jim Cramer, anyway? Why is he important? Why does Covelli reference him?
You have 300 words to write. Agree or disagree with this author about his predictions and/or points made. You may use more recent data gleamed from the internet to back up your arguments (be sure to cite your sources if you have any).
-- MP
(please note: picking this article does NOT indicate political support for this, or any other, political position.)
I would first like to say that I didn’t enjoy reading this article at all. It made me feel hopeless about my future, which is obviously not an enjoyable thought. I do believe there were valid points made about how our economy is continually decreasing. For example; how the value of the dollar will not nearly have as much value as it does now. I do feel there is truth to that because it is being proven true currently. I also agree with that tax being raised for wars, but there is no proof or guarantee that we will for sure be going to war with the different countries he listed. I understand that the supply of loans will decrease with the decrease of our economy because the amount of money is limited, and people’s credit will get worse throughout these hard times. I definitely agree with Dr. Paul about only using defense when approached and attacked by other nations. I don’t think we need to start any conflict with anyone, unless we are attacked. I don’t think war is the solution for anything, especially the downward spiral of our economy, but if we are in danger I fully agree with defending ourselves. This article convinced me in some ways that I have mentioned that our economy will get worse throughout the next ten years. Yet, this is only one person’s view and explanation on what will happen. Considering this, although he has was more experience and knowledge about our current economic crisis and possible solutions for it, I cannot fully agree with everything he stated. This was written in 2007, and he was correct about how it is much harder to get a loan and the value of the dollar is decreasing. Therefore, there were valid facts, but there were also things mentioned that I don’t fully understand to give my judgment on. I truly feel that although valid statements were made, considering this is a political article attempting to elect Dr. Paul, this was written to make everything sound absolutely terrifying. It was clear that every bad thing that will affect Americans was elaborated more than the positive aspects. It sounded to me that this article was created to make America seem completely desperate, and without Dr. Paul our country will fail. Overall, I agree and disagree with certain statements made in this article. I also couldn’t completely comprehend a lot of the terms and meanings because I am unaware and unfamiliar with a lot of the situations and subjects expressed in this piece. It was also an eye-opener to realize if certain actions aren’t made, our economy could be in a lot of trouble. The question is, is Dr. Paul correct, or is there other ways about helping our economy out of this rut?
ReplyDeleteMuch of what the author states in this article was used to confuse the reader and inevitably push his agenda by dazzling his audience with wordy opinions. I don’t claim to have a deep understanding of the economy. I tend to shy away from math, but he primarily focuses his argument on the failing financial sector. The author uses his own jargon to belittle the Federal Reserve by calling it “Fed,” and “Fed” seems to take the brunt of his abuse. The author chooses to ignore the fact that “Fed” is not entirely responsible for the repair of our countries’ economy. It comes down to every branch of government and every last American. Also, he neglected to mention the fact that World War II and the production it created brought the United States out of the Great Depression. Glossing over this fact makes one of his arguments, that war digs us deeper, a little less holey.
ReplyDeleteMr. Crovelli tends to use confusing and repetitious arguments about the economy because he is not qualified to do much else than exercise his First Amendment right of free speech on this matter. In fact, the link in his article that leads to a prediction on the failing housing market is a piece which was written more than eight months previous to the publishing of the assigned reading. Clearly math is not his forte either. This article doesn’t even have the word housing in it, it’s all about business cycles, gold and Austria.
Even though he may have taken college level courses in economics, it is not his field of study. His signature at the bottom of the linked article, states he was a PhD. student in the department of political science. He gives no concrete proof that makes his claims even remotely credible. When one reaches the end of this babble it becomes completely obvious that it is nothing more than a political plug. It’s full of general statements and unclear explanations about complex subjects.
It is possible that our lives could be miserable ten years from now. It is also very likely that the economy could play an important role in our woes. Nevertheless, Ron Paul and his gold standard certainly won’t make our problems go away.
Second Article - http://www.kitco.com/ind/crovelli/may312006.html
Ten years from now my life will probably be terrible? Of course it will! Any living organism with half a brain could tell you that. I mean, even if the economy did somehow get back on track, and we weren't spending billions of dollars on our military, and Ron Paul was elected President of Earth, the next ten years of my life would still blow.
ReplyDeleteAfter college (hopefully sometime in the next ten years) what do I have to look forward to? Working a mind-numbing, soul-crushing, dream-devastating job just to make enough money to pay back my student loans. And that is something we can all always look forward to, mounds of debt and having our dreams and soul destroyed. Yay! Fun.
And what's after that? After my soul has been ripped from my being and my mind melded into that of a robot's? Marriage? Kids? Cool beans, more stuff that blows. Marriage - let's spend the rest of my life with some mind-controlling succubus who will try to control and mold me into her ridiculous fantasy of the perfect husband/father, awesome. Kids - just monetary black holes that require clothes and food and nurturing, who will probably grow-up not appreciating what I do for them and then hate me when I am old and gray and crapping in my adult diapers, sweet.
In the next ten years my life will be terrible, hell, downright miserable. And honestly that is just fine, I don't mind. Of course it will be terrible and uncomfortable and annoying, but I don't recall ever being told that life is super awesome and will always be happy unicorns farting pretty rainbows. No, its responsibilities, and stress, and mounds (upon mounds) of bullshit. Life just sucks, what you have to do is realize that, nut-up, and just do the best with what you are given.
With this being written three years ago it’s obviously disarming that many economic disasters continuing to flood the American headlines today was predicted by Crovelli. But then again, not to take credit away from Crovelli, many others predicted the state of the U.S economy today based on stats, figures, past history, and well hell just plain common since. Such predictions introduced in this article that we as American's are dealing with today are ailing businesses, unemployment, the decreasing U.S dollar, social security issues, the bail outs, etc. By the time I finished the second paragraph I realized this article is the same bull shit that is printed in the paper every day.
ReplyDeleteHonestly I’m tired of the media declaring they predicted this and that, enough. Why aren’t there more articles with more useful information, and less complaining and declaring a “savior” type like found in this article with a paragraph devoted to DR. Ron Paul’s greatness. It is impossible that our economy will be fixed by one man’s agenda. It is going to take patience and many people will have to contribute to work towards a plan of action.
I just found the whole article hysterical because even though the country may be economically in turmoil that doesn’t mean people view their individual life’s as terrible. I believe 10 years from now we will still be battling a troubled economy; hopefully the state will have improved a little by then. If we won’t be at war in 10 years than we will probably be at the verge given how the rest of the world views the U.S., and I’m not persuaded that Ron Paul can fix that. Even then I do not think I will be miserable. I grew up under poor conditions economically but when I look back I view my childhood as a positive experience filled with love and hardships that made me who I am today. I still struggle now money wise, like most college students, yet I am having the time of my life. This outlook may be a bit cliché but it has brought me this far. It’s true in 10 years I will be greatly in debt in student loans, probably still looking for a good paying job, but I won’t be miserable.
I also did not like this article. The first paragraph honestly almost made me just want to put it down and walk away. It was very negative and that’s not something anyone wants to read about. But after reading in our Sin Boldly book about how to state your argument and get the readers into it I could see where Crovelli was going with his article, stating his position strongly. He then goes on to talk about how poor the economy is going to become. Since this was written in 2007 I would have to agree with his prediction about the economy going down since we aren’t having the best of luck these days. I think that he rambles on a lot trying to confuse the reader about the economy and talking about the “fed” to try to get them to agree with him. He seems to be presenting the correct information to us by how he is presenting his knowledge in this article, but who is to say that he is correct? Some of his stances I would have to agree with. I wouldn’t go as far to say that in 10 years our lives are going to be terrible! Sure we will all probably be working long hours at mediocre jobs trying to make ends meet for our families, but I honestly don’t think my life will be terrible in 10 years unless I’m all alone. For me my life isn’t all about the economy and money, although that does have a major part of it. As long as I have people I care about in my life and enough money to make ends meet and be able to eat my life wont be terrible. I love how the majority of this article is just downhill on how awful our lives are going to be, then the last paragraph he does a sharp turn and says that there is hope. I just found him a bit amusing being so negative but still talking about hope, I didn’t expect that. But when he starts talking about how Dr. Paul can fix everything I think he gets carried away.
ReplyDeleteThis article was an interesting look into the present. The author had valid points about the economy and the countless US dollars that are going to the wars on ‘terror.’ Though this article was written three years ago, I believe some of Corvelli’s predictions have become true. The Federal Reserve of “Fed” as Corvelli so arrogantly calls it, does have a dilemma on how to handle the economic and financial crisis that is happening in our country. However, I don’t feel that using these statements, as a campaign ad is the most effective way to get the point across, it then becomes propaganda for that specific candidate. When I hear or see a commercial about a certain political candidate, most of the time, they are ‘bashing’ their fellow competitor on a certain issue; or they are trying to persuade you one way or the other just so you punch a hole beside their name on the ballot. On the subject on the War on Terror, I believe that we should start to evacuate troops from the Middle East. Though Iraq and Afghanistan aren’t completely democratic or established the way we wanted them to be, we cannot decide how a country governs its people. If they want to believe in the ways of democracy they let them conform and endure the change, if change is forced the only thing that it is going to result in, in resistance. Therefore, I believe that unless attacked again, we evacuate and save further bloodshed of our armed forces. I believe that this article is fundamentally sound throughout, but again, the fact that it is a political campaign ad makes me discount all of the points Corvelli has made, if I was reading that in 2007. Corvelli was on the right track, as some of his points ended up becoming true, but the overall result is for the reader to vote for Ron Paul, not for them to seek economic and financial change.
ReplyDeleteWhen I first glanced at the title of the article I was intrigued to see how Mark R. Crovelli was going to tell me how my life would be terrible in 10 years. After I read the first couple of paragraphs it seemed to me that Mr. Crovelli did have some good points that were right on. The economy isn’t good and doesn’t seem to be getting better anytime soon.
ReplyDeleteMy friend knows first hand how bad the economy is because she wanted to get a job this past summer so she could have some extra spending money. Everywhere she applied she got turned down. With the jobs she applied for the positions were getting filled with people that were older and that had more experience or the company just wasn’t hiring. In 10 years or even sooner than that I hope things turn around in the economy.
I’m a nursing major and I know I’ll have a job somewhere, but for people who are going into something else who now’s what’ll happen. And in 10 years, I don’t think my life is going to suck. It may have it moments where I think it does, but not to the extent to where Mr. Crovelli thinks it’s going to be.
In terms of liking the article I found it dull and hard to get through. He does have issues that he wants to get across, but it seems like he likes to rant about them. I don’t mind if people like to rant, but in an article you can only take so much.
This article was written to scare the minimally educated Americans into thinking that we are under absolute turmoil and to be afraid of the “Fed” or in proper terms the Federal Reserve. However Crovelli brings a few valid points about the current credit problem and the unsuccessful steps that the Federal Reserve are taking, but like mentioned above any average Joe can ramble on about the current economic state and pretend they know what they’re talking about. My opinion Crovelli just got done reading Ron Paul’s book End the Fed and was so excited to spit out what he learned from reading it. Even so, yes our economy is hurting and for the most part it will be in ten years as well, but it is not entirely the Federal Governments fault. As an American citizen we all hold the responsibility of the wellbeing of this nation. In the end it comes down to the financial decisions of the individual that shape our economy. Granted Social Security and many other stimulates are financial blunders by the government. But as for the overall demise of the country it’s the horrible business decisions from failing businesses and banks leaving the Federal Reserve left picking up the pieces. In regards to foreign intervention I think we should uphold our policy and establish democracy’s in terrorist threat countries that affect us directly. I disagree with having a defensive stand and waiting until we are attacked before taking action. That would eminently result in unnecessary loss of American civilian’s lives.
ReplyDeleteIn ten years life will not be horrible we will make do with what we have like every hard working American has for years. I will most likely be broke paying off my college loans and competing with people who graduated five years before me for the limited available jobs in my field, but I will still be happy and enjoy the simple things in life, and be fortunate I’m living in this democratic country. The Government and their departments were established for the people by the people. I think many people have lost the reason it’s in place. For better or for worse it is set up to help and protect the people even if it results in temporary recessions and inflation.
In ten years your life will probably be terrible? I already hate the article. First of all, the writer must be a miserable shrew of a human being. The title is presumptuous and deceiving. If I were to base my life around the world economy then perhaps my life will be terrible for the next ten years. Perhaps Crovelli should invest in some Lexapro or Zoloft like the rest of America and then maybe he'll start viewing the world like "happy unicorns farting pretty rainbows" as someone stated above. If not that he can numb himself from such depressing issues like the decreasing economy. I kept waiting for this article to give me a legitimate reason as to why my life would be terrible but he continued on his tyrannical babble which ended up being a political advertisement. If Dr. Ron Paul would like to be elected from such a negative note then that is something to be said about politicians.
ReplyDeleteNow, I'm not going to pretend that I understand much about our economic state. I know that I work for the government (or as the author pompously re-titled feds) and they still take federal taxes out of my paycheck while also barely paying me minimum wage. That about reaches the extent of my economic knowledge. I'm already quite aware that I'm screwed. If the writer was trying to enlighten me on the actual issues this country faces then he failed miserably. He assumes that the reader has a prior understanding of bank loans, interest rates, and wall street. I'm in college and I study literature.. I don't get it! All I can say I've retained from the article was the internal thought "what the hell is he talking about??!" Perhaps he should've provided a few more solutions to his seemingly endless list of problems.
First I would like to state that I found this article to be not only depressing but riddled with gratuitous negativity. Whether this article actually expresses or has expressed the truth about our bleak economic future is irrelevant. This sort of rant serves no purpose other than to lower our spirits. What good can come from bluntly telling a cancer patient that she is a goner? Withholding some of your self-assured negativity could give the old gal a fighting chance! This article was written to strike fear into the hearts of Americans, I do not quite grasp the author's fierce agenda. Of course some of the statements in this article are coming true even within three years of its publication. For example, the value of the dollar is noticeably decreasing and it is harder to get a loan than before. However, I do not see this happening at the alarming rate the author suggests. Crovelli also predicts that our nation will have no shortage of terror and that we will surely invade many more countries in the future. This is just insulting. To suggest that the government would plunge itself into another mess like the so called, “War On Terror”, is degrading. If our government has not learned from this experience enough to know not to do it again, then Crovelli is right. We are all doomed. However, I do not expect this to come true. Our nation has surely seen enough meaningless violence to know that wars such as this only serve to hurt us as a whole and really seem to accomplish very little. I do not profess to be a political expert, but after reading this article I can deduce that the author is overly passionate and has a warped view of our potentially bright future. No one can really know, or attempt to know, what the future holds.
ReplyDeleteMr. Crovelli was wrong in saying my life will be terrible ten years from now only because of the failing economy. Why does he think that money will bring happines to me? Maybe it will for some people. Money to me isn't the most important thing in life.
ReplyDeleteWhat I think he is trying to say is that in ten years his life will be terrible. Why do I say this? It is because those who have money are afraid to lose it. I say let the banks fail. Maybe then they will learn there lesson and finally start being more financially responsible.
If you where going bankrupt, would the government step in and give you a bail out loan? I think not. They would take one look at your financial record and say sorry but there is nothing we can do for you.
There are a plethora of reasons why the economy is the way it is and there are a plethora ways to try and get it back on the up-swing. One way of trying to improve the economy is to hold other countries to the same standards as us Americans. Things such as safety, pay, and health care. When you let other countries import goods that are made by workers who you can pay seventy two cents a hour, who will do unsafe things to try keep that seventy two cents a hour and compines who do not provide health care, there is no way we as Americans can compete with that because we have to provide these services.
we need to start holding other countries to the same standards as us Americans if we want to be competitive and start improving our economy.
Well i really enjoyed reading some of the article and also reading some of the comments that other people wrote about what is going to happen in ten years. Obviously none of us really know what is going to happen in ten years. Yeah the economy will probably still be really crappy but it is definitely possible to work through it. You can for sure get a job even though the economy is bad you just have to work a little harder than people before had to. I thought the comment on how horrible your life is going to be because you are going to have to get married and have to have kids was hilarious. i was laughing the whole time i read that. You do not have to have the ideal life what every one thinks is the perfect life with kids and married. If you think that is going to be horrible than do not put yourself through that. Live your life how you want to live your life because life is short. Do not do things because you are suppose to do them you suppose to do things that you want to do. I have no idea anything about the economy. All i know is that we are not doing good at all. I know it is going to affect us when we are looking for a job when we are out of college but it is still possible no matter how bad the economy is if you really try. The economy probably will keep on getting worse and worse to make it tougher for us in the future to get a job o well it sucks we just have to deal with it. Sitting around complaining about it is not going to do any thing to help us. I am going to try as hard as possible to work through this economy to get a decent job so i can support myself live on my own, and pay my own bills. I am going to end it with one of my favorite lines from a movie "nut up or shut up" zombie land
ReplyDeleteTest comment from Amber.
ReplyDeleteFirst of all, I did not like this article at all. The author was very repetitive in the things he had to say, and ultimately it was a bit confusing. This article made me no longer look forward to my future. But, then again, how does he know all of this will happen. Yes, it is true that the value of the dollar has gone down and it gets harder and harder to get a loan these days, but that’s why it’s called the future, you don’t know what’s going to happen. I know that most of it is based on statistics and data throughout history, but statistics drastically change. The author was right about the value of the dollar decreasing, the difficulty in getting loans and taxes being raised for war. However, there is no guarantee that we will go to war or go to war with the countries that he predicted. Currently, all of those things are true, but our president is trying to get the troops out of Iraq and stop this war. If this happens then his prediction for the taxes to keep increasing will be incorrect, unless we go to war again. Overall, some of the points made were legit, and convincing in a way that the economy could get worse.
ReplyDeleteConsidering this was a political advertisement, the author was trying to be make things look terrible for the future, just because he wants Ron Paul elected. I agree with some of the ideas that Ron Paul has to help this country. Including, not starting wars, unless we are attacked, and to stop printing money because it’s depreciating the dollar more and more. Anyone with a slight bit of common sense should know this though. So my question is, why can’t anyone else figure this out, and get our economy back on track?
The article was written in 2007 and three years later I would have the say most of it is true. It is though extreme to say that my life will be terrible and there will be no joy in my life but I do think this article does hold some truth. The housing market is still horrible and the dollar bill is losing its value. Obama maybe pulling troops out of Iraq but he did just sent around 35000 troops to Afghanistan.
ReplyDeleteThe American economy is horrible and everyone is being affected by it. The government had no choice but to bail out the banks and companies. If those companies failed there would be so many people out of work. For example, the GM bailout the government had no choice but to bail them out because it wouldn’t just be workers that lost their jobs it would mechanics, tire companies, car dealerships, so on and so on. If someone worked somewhere their whole life and one day lost their job they wouldn’t have anyway to make money. Towns also would go under and even with the bailouts people still lost their job. You could say well it was the companies’ fault and bad management and some of it was their fault but the government had no choice to bail out those companies that were going under.
This might seem shallow but to the people that say money isn’t everything but it does make life a lot easier. I don’t care who you are if you used to making a certain amount of income your whole life and then have it taken away it is going to cause stress in you life. Your life won’t be terrible and a disaster but it does add stress in your life and make things a lot more difficult. He should have named this title in three years your life will probably be terrible instead of in ten years.
In Ten Years Your life will Probably Be Terrible? Is this someone once again claiming to predict the future? I must admit the title was catchy and got my attention, but slowly diminished upon reading. Seeing the words economy, credit, housing market, interest rates, reminded me of sitting in that boring econ class. It is called the future, it is unpredictable, Mark Crovelli’s article is about as meaningless as trying to teach an old dog new tricks.
ReplyDeleteThe whole demeanor of this article was depressing and seemed to be restating the same few “facts” in complex ways. He did have a solid argument about how a decrease in interest rates will cause an increase in inflation; I do recall this between dosing off in one of my Economics classes. This is true, but how do we know it’s going to continue to happen? Another, ridiculous point he tried to state was that we are going to have numerous political conflicts with Iran, Pakistan, North Korea, Venezuela, Russia, China? I guess I should prepare for World War III. This is quite blunt and in my opinion destroyed the whole claim.
Even if our economy would do this, and we did go to war, this wouldn’t make my life terrible. People in society get so caught up in money they don’t know what’s really important. For myself I’m happy being a poor college student. Being happy and having money don’t go hand and hand.
If the title of this piece doesn’t already have your attention, then the way in which Crovelli begins it sure to catch your eye. He has a certain air to his writing that I think can rub some readers the wrong way. Maybe it’s his arrogance in assuming he has met such a feet in predicting things for those reading his words. As if he is some form of psychic, one whom is vastly more knowledgeable and can educate us all of the future.
ReplyDeleteI don’t care for economics in the slightest, I don’t seek out article to read, it doesn’t really interest me; and yet I could have told you that the next 10 years would bring a deterioration in our Economy. I don’t think things will have been as terrible as the author predicts, but things can always be better. It seems that history likes to repeat its self, things that have happened once will happen again. It happens in the fashion industry, it happens in history and now it has happened with the economy. Just as people are able to predict fashion trends for years from now, those who do their research and know where to look can predict economic downfalls.
It’s not to say what Crovelli writes is a load of rubbish, there is meat to his statements, and he makes many valid points in which he backs up. He has proof with his statements to make his arguments believable, making this slightly more bearable to read. Some of what he wrote has come true, almost anyone can tell you that. I do see the truth in his article; he knows what he is talking about.
Sure 10 years from now things could be worst, the dollar value could drop further, we could continue to be in war, and it’s terrible. If you dwell upon all these things then you’re bound to be miserable. Never will things be perfect. That’s life. Maybe I didn’t enjoy the article because I just don’t care. It isn’t to say I am ignorant, I may not know a ton on the subject, I just instead focus my energy on other things. I do realise things in the future could be downhill from where they were now, I agree with Crovelli, I just choose not to worry about them now. I’ll cross that bridge when I get there.
I found the article to be very intriguing at the start, with Crovelli stating that he could convince the reader that their life will be terrible ten years from now. I thought it would be a very interesting and enlightening read, talking about different events that may occur to lead us to believe this statement will hold true. I expected him to present credentials and strong support backing up his predictions as well, but that’s not what I went on to read. After reading about halfway through the article I was more interested in what else Crovelli was going to say would happen to our predicted doomed economy that only one man alone could save. Crovelli seemed to know what he was talking about at first, but I soon realized he is just one man alone, making all these predictions about our hopeless economic downturn that we would experience in the next ten years. He had no support for any of his arguments other than his word alone, which led me to ask, what makes him so qualified to make these predictions? I’m not going to believe everything one man says about the entire U.S. economy just because he made a correct prediction about the housing market, which also happens to be the job market he works in. The economy of the United States is far more complicated than the way he presents it, and with no supporting sources or proof, I find it hard to strongly believe what he is saying. I saw the information he predicted as a worst case possible scenario for the situations he presented, along with nothing more than an attempt to scare American citizens into voting for the presidential candidate of his preference. If Crovelli is correct in his predictions for the future economy of American, then I’d also believe the only man that Crovelli claims in the world that can save us, Ron Paul, would do so whether he is the President of the United States or not.
ReplyDeleteWhen I first read the title of this article, I had a feeling that it would eventually turn into a piece of political propaganda focused on fear-mongering. I was not disappointed. Mr. Covelli bases his argument on two points of interest. The first being that the availability of credit is controlled by only the Federal Reserve and that the control is established by the printing or not printing of "green paper". In actuality, the U.S. government, consumers, and businesses competing for the same credit dollars are to blame. When the prior administration increased spending and reduced tax collection, it created competition between the three groups for the same credit availability. It was simple supply and demand. The amount of available credit shrunk, creating a high demand, which led to increased interest rates. Mr. Covelli attempts to breed fear in his audience by creating a singular, monstrous source of power. In other words, he is creating a single threat to focus on, which is the "Fed". However, realizing that there are multiple sources for the increased interest rates and lack of credit dollars disperses that threat. No single entity has complete control over the economy. The "Fed" no longer retains its overwhelming power position.
ReplyDeleteMr. Covelli then turns his attention to how politicians and bankers react to an "economic crisis". He states that both groups spend in an attempt to stimulate the economy. This is only partially true. The government (a.k.a. politicians) spend; bankers do not. Bankers sell loans to make money. Loans (mortgages, credit cards, car loans, home equity loans, etc.) are the commodities banks use to increase profit. Therefore, they are not spending money but making money. In this article, it is stated that the banks forced the "Fed" to keep Federal Rates low so that the banks could provide cheap credit. But why would a bank want to provide cheap credit? Providing cheap credit eats into a bank's profit margin because the interest rate the bank collects from the borrower is lower. Once again Mr. Covelli attempts to breed fear by creating insurmountable odds against a nonspecific entity (banks in general).
Upon closer examination, Mr. Covelli's exaggerations destroy his credibility, rendering the fear factor he tries to create laughable, especially when he mentions a (one and only) savior, Dr. Ron Paul. This is also when the article becomes transparent. The only reason he needed to build up fear and desperation is so that he could then relieve those feelings with his own political candidate to fulfill his agenda. So, in the end, no, I am not convinced that my life will be miserable in ten years.
Well, reading this article was by far like everyone else has expressed the most depressing thing ever. However, I’ve already known all this because of the mere fact I myself am a political science major. I’m not saying that I have an advantage, however, we get hit with the truth of our countries mistakes and successes. But making everyone aware of our economic situation is very difficult. Not many people take political science courses and therefore are not aware whatsoever. So the question is how to make Americans nationwide open their eyes to the truth. The simple truth is, that Americans are in a sense “lazy”. I don’t mean to offend anyone but it seems that we don’t seem to take action on a certain issue until a catastrophe hits us. It’s only then when we decide to do something about it, but by then it will be too late, so my conclusion is that I agree with Crovelli; we’re doomed!
ReplyDeleteWhether it is a large business or small business, they are all in danger of failing. However there are certain people who believe that the government needs to bail them out, but is it really their role to do so? Politics is really complex but they only help those if it benefits the country in terms of the economy at least.
Yes, my life will suck in ten years because not only is the economy failing I will also have to start paying my college debt and for the baby boomers. However, I’m going to be a lawyer not a secretary and I plan on being very successful. The economy will not effect me as badly as say the average person working for minimum wage; those people will hurt from it the most. However, I will have to play my part in paying for past debacles, and I’m not so sure yet how I feel about that, is it patriotic if I support it or not?
Clearly this is a political advertisement! It did not sway my opinion. It just made me kind of laugh at the fact that this guy thinks our lives are going to be complete shitholes in ten years unless we elect Dr. Ron Paul. He really thinks we'll fall for the idea that one guy could fix all of these elaborate and unavoidable problems that he tells us about. His arrogance also made me laugh because although he did state some valid points, it wasn’t anything we already didn't know. He just stated a bunch of common economical statistics and put his name on it, trying to panic the average American. I have stopped listening to all of the threats of how the world is heading straight into the ground. Like the Y2K scare. Oh look, we are all still living. Or the global warming scare. Now we are saying that this might not be true either. I think that yes, we have an economical issue on our hands, but if you look into history, this is just another bump in the road. As we move along in time, the nature of us as human beings will adapt to the challenges. I’ve never been one to get stressed about the future. I live my life day by day and whatever happens in ten years happens and we’ll deal with it. I know that no matter what happens, I’m sure I will still be happy. I’m just saying, I’m not going to get my panties in a bunch over something that we will surely find a solution for as we go on with life. That being said; no Mr. Crovelli, I don’t think my life will be miserable in ten years. But thanks for trying to ruin my day.
ReplyDeleteThis Article is somewhat true, we just really don't want to realize it. I for sure do not want Ron Paul for president because he is a damn joke but the economical situations are somewhat true. The answer though is not just electing Ron Paul anyone can fix these changes. Obama can and Mccain could have if he was elected. Also it is not just the president that affects the way the economy it is the people, we have to keep it flowing and one person is not going to hugely affect it the way Crovelli is saying. He basically is just trying to sway the DUMB americans brains, people who are easily influenced by an article like this are obviously idiotic. When Americans see these types of articles it makes you think and that is exactly why he wrote it. I also do not get a flying hell what the world will be like in ten years. I make my own life and I make and decide my own destiny. If I keep my money out of the stocks, their is no governmental control of my money except taxes and social security. All I know is I am not going to let the government control my future. This is also obviously a political advertisement. I still stick to my guns about agreeing with somethings, the economy did suck but we are definitely reviving ourselves. The DOW is at 10 and that is not bad at all! The DOW should have never been at 13 anyway! We see things everyday that are making the economy better and better. After hearing Obama's State of the Union Address I feel way more positive about the future of our country and we need people that can make us feel that. So in conclusion I create my own destiny not the government, not Mr. Crovelli, but myself. Everyone needs to depend on themselves to make their lives the way they want it. This article was just written because Mr. Crovelli probably got paid to do it for Ron Paul, who everyone thinks is a joke.
ReplyDelete---also sorry this is a day late my great grandma died Friday I had to deal with things, I will bring the funeral paper to class.
"Money is the root of all evil" as the well-known expression dictates. This article mentions nothing but money. He is using words such as 'economy' and 'credit' and mentioning the Federal Reserve, a section on government having to deal with money. Hell, there is also an expression stating that "Money makes the world go 'round." And this is absolutely true when we, Americans, are halfway around the world fighting and dying for money in its lucrative black form called oil, although we do it not by choice, we are ordered to under strictly false pretenses. This article's only informative aspect is pertaining how money and its misuse and trail of greed will be America's downfall.
ReplyDeleteThe writer of this passage, Crovelli, comes of as pompous and pessimistic. He states that "American economy is in dire straits right now, and will only continue to deteriorate over the next few years. Just vote for my man, Ron Paul, a century year old man whose says 'Down with the Fed!’ if you do not want this to become your reality."
This argument was not effective in the slightest. Crovelli seems to be writing this as an emotional angst ridden cry for help, because his life probably sucks. His needless use of the word "deteriorate" leaves a lot to the imagination of his current state of mind. His reference to Jim Cramer, a widely known television economist, and his stance on the state of the economy today feels like Crovelli is using his view to prove his argument, yet I believe a successful argument ought to have at least a few counterarguments. Without them, this article belittles itself to nothing more than forced persuasion. Of course he mentions some pineapple tid-bits of facts here and there, yet it was definitely not enough for me to pull in my vote for Ru Paul or whoever.
And possibly at the time where large banks were going bankrupt and major car companies were on the edge of failing the notion of "economic deterioration" did seem to be nothing but truth. The credit crisis still continues, to this very day. And the value of a dollar has decreased and our prices for goods only increase. It is inflation at its best. For example, the rise in a worker's pay wages from the increase of paper money flooding the monetary system can not keep up with the high prices for food or other services. However, there has been a list of changes ensuing which deal specifically with interest rates and taxes. The brilliant, yet sketchy result is the long awaited Stimulus package, with approval from U.S. Congress. Whomever and wherever this giant, surplus of government spending will go to, I do not know. Although, I do realize that it is a possibility to support the greater good, which always have been the American people.