The American Economic Slowdown

Paper Summary:

This paper outlines the slowdown in the American economy. It discusses, among other issues, the average American consumer's reaction to the increased threat of terror and lowered job stability. This paper raises the issue of the oil crisis and its implications on the American public.

From the Paper:

"The public demand for goods and services that seemed to be at the crux of many arguments against the reality of a recession has slowed substantially. Undeniable market declination and excruciating deficits in corporate, and even more troublesome, total industry profits have finally taken their toll on the average American. Lowered job security and renewed promises of a terrorist threat to the mainland are only a couple of the factors that have landed us in our current status which is, to say the least, not promising to those on the supply end. A decreased willingness to spend has been detrimental to the viability of formerly prime industries, particularly in neighborhoods like tech and air-travel. As if to gird those that have held fast to the validity of the notion that we have suffered a recession, the failure of widespread consumer demand to grow this quarter has perpetuated the condition of ailing stock prices, spreading unemployment and an unreliable job market."

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