Implication post

At a critical point like now, it is urgent to get to consent and make the decision—we need regulation, and we need it now. If the problem remains unsolved, there will be serious outcome. First and foremost, we are likely to experience a deflation or recession like the Great Depression. According to VOX, a research based commentary for leading economists, “the rise in uncertainty and banking collapse look like the Great Depression.” Sounds distant to you? The crisis is just beside us. As was predicted by Cleveland.com last year, 1.4 million homeowners would undergo foreclosures in 2008. Because most people who have lost their homes receive little wage, it is likely they lose jobs at the same time. Can you imagine a world where people lose jobs, can’t afford a college education and health care? It is really going to happen if government does nothing about it. During the Great Depression, we have FDR who came up with the New Deal Policy and saved the economy. I wonder if anyone will do the same thing now. Jon Markman, an investing expert predicted in msn.com, people will have to face several differences in the future, including credit crunch, more bankruptcy and change in life style.