– You won’t get a job
– Your kids will probably not be able to go to college or have much of a future.
– The food and grocery prices are going up because no one is buying them. So the prices go up in order for stores to stay afloat, on top of all the other things they’re struggling with like rent and taxes.
– There’s really no chance you’ll find someone who shares your last name if you marry an American, so there’s likely nobody that can help take care of you when we stop taking care of our elders at home – which is happening more often now due to financial strain from higher fuel costs and inflation.
– Even though language skills enable people from
Every day the recession gets worse and worse. It’s a mess, but it’s not surprising when you consider what has been happening in today’s world economy. Many are blaming the recent economic collapse on Wall Street or even China dumping out its surplus of goods onto major markets like Europe and America. Of course, there is blame to go around for government officials who couldn’t get their act together during this global financial crisis that occurred from 2007-2008 (or earlier). No one really knows how far back we can trace down these roots though, so I have compiled a list detailing nine reasons why you can blame all of your problems with the current state of our economy at Romanian last names!
Reason number One: The United States trade deficit
Every few months, I get a headline email from the New York Times about how Romania is in their top ten list of countries to watch out for.
I thought this was weird at first and then realized that there are over 15 million Romanians living outside of the country with many of them living here in America. So it makes sense now why they would be watching us so closely- we’re like one big long lost sibling reunion!
This got me thinking – what else do Romanian’s have going on? Easy answer: A LOT. And some things you might not even know about yet.. but should definitely let your friends know who might be interested, too.. like everyone ever! Like these little known facts:
-The Housing Crisis
-The Stock Market Crash
-Unemployment Rates Rising Again
-Gross National Product Decline in 2009 and 2010. (Source)
-Debt Increase of Households, Businesses, and Governmental Institutions since 2006. (source)
-Fall of the Dollar Against Other Currencies Since 2008 (source) “Falling dollar means higher prices for imports” –CNN Money 2007 article about a study by Morgan Stanley’s Steven Roach that indicated the U.S.’s continuing reliance on foreign debt meant it was “especially vulnerable to an increase in interest rates” –Bloomberg News Article: Foreign Debt Hits $13 Trillion Dollars as Part of Gross National Product
-“The stock market is back on a correction mode, and it’s not just because of Greece” from CNN Money. (source)
-“A U.S. recession at this point would be a ripple in the pond compared to what Europe has been dealing with for months,” according to CBS MarketWatch article quoting Morgan Stanley Chief Economist Ellen Zentner that was originally published by The Wall Street Journal.”(Source)
-Europe’s economy shrinks more than expected from BBC news site today! “Eurozone Gross Domestic Product contracted 0.25% between April and June 2011 as opposed to an initial projection of growth during the same period, official data showed Tuesday morning,” said the article. (Source)
-“It would be difficult to argue that these two events are not related.” Says The Wall Street Journal, “The European Union’s economy is in free-fall and it doesn’t have a parachute.”
-Spain has fallen back into recession according to BBC news site today, “Spanish GDP contracted by 0.22% between April and June 2011 as opposed to an initial projection of growth during the same period, official data showed Tuesday morning.” And they had been recovering! :( Source).