Today I Learn… I make a point of learning something new everyday. This is what I learn each day

1, Aug 14, 2011

The Poor and the Powerless: No Fun in Times of Economic Woes

Filed under: Economy — admin @ 12:52 am

Last Friday, 8/12, while I was reading “U.S. Debt Reaches 100 Percent of Country’s GDP” from fox news, I received an internal email on selling “cheap” Worlds of Fun ticket —
Adult $35
Junior (under 48 inches) $24
Season ticket holder wanting the meal only $13.02
With the country’s debt exceeding the total GDP, that’s the fun that most people have to forgo now.

It is very hard to become sanguine when we vision a few years down the road. The US economy is very much consumer driven, consisting of consumption by US government and ordinary citizens. Now, with Republicans calling for government spending cut and consumers increasingly squirreling away their meager savings for lack of confidence, we are seeing less and less spending instead of the other direction as people have expected?

Now talk about increasing productivity and revenue, a sheer empty talk. With the majority of manufacture jobs moving overseas and the lack of the required skills for the emerging technology market, where do productivity come from? No job, no income.

To be honest, forgoing the Worlds of Fun is a small sacrifice compared to the fact that many people will have to face the shrinking of their retirement pension and health care service. Keep in mind the government always stands by the side the rich and powerful while the poor and the powerless can never escape bearing the brunt of economic woes.

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