Mission Not Accomplished

Stocks are down, recession starts. Stocks are up, recession is over, right? Wrong. Well this is what the author, Paul Krugman of “Mission Not Accomplished” from New York Times says. We hear in the news that the country is doing better already that it only took a while for the United States to get back on our feet. We hear that the government is doing more to get Americans back to work. They’re trying to input extra jobs out there for their citizens. Unfortunately, when I look around, I still see a lot of people without jobs, unemployment is still high. Those that were laid off because of the economic reasons, many are still searching to find jobs, figuring out a way to pay their rent and put food on the table.
Sure the economy is doing better, and we know for sure that we are not going to end up in another Great Depression. This is where I come into an agreement with the author, “But while not having another depression is a good thing, all indications are that unless the government does much more than is currently planned to help the economy recover, the job market will remain terrible for years to come”. We have to remember that the recession brought a lot of depression to the people that were affected by it. Some had to leave their while collar jobs to move into a blue collar. They had to leave there offices and go flip burgers. When the economy goes down, one has to do much more to get what they once had.
We cannot jump into a conclusion and say ok, the stocks are up and running again, so the recession is over, at least that’s what Ben Bernanke says. The recession left behind a lot of unfinished work that needs time to recover. A report from the International Monetary Fund shows, “a recession caused by a financial crisis, often leads to long-term damage to a country’s growth prospects”. The audience that hear that the recession is over, are thinking twice about this, most are in a disagreement, because they are the ones that really know if the recession is over, they are the ones that are running around and sending resumes everywhere they can just so they can get the a job.