Economic parallels and self-fulfilling prophecies
Table of Contents
- An overview of American culture
- The story of Oedipus from Greek mythology in relation to American economy
- Learnings from the movie 'Kung Fu Panda'
- The origin of Federal Deposit Insurance Committee (FDIC)
- The reason behind Great Depression in the US
- The origin of TARP (Troubled Asset Relief Program)
- Conclusion
- References
SummaryThe American culture has always been utterly and completely obsessed with the economy. It envelops us and constantly pushes itself to the forefront of our thoughts. Unfortunately, we can’t always be perfectly in tune with our economy. When we mess up, the economy falls to its knees and can, with little to no hesitation, die at any moment. What we are experiencing right now is the American economy on its knees and crumbling fast. While this isn’t as severe as the Great Depression of 1929, it has been devastating nonetheless. What we’ve seen thus far are some rather interesting parallels between the current economic crisis and that of the 20s. While some may attribute our current state of affairs to the mortgage fiasco, the fall of American automakers, or overconfidence, I believe it was a combination of all of these, paired with the perception of security by investors.
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