Financial Crisis Essay Example for Free

Financial Crisis EssayDear Grandchildren, The last two decades have seen measurable milestones being achieved, not entirely for America, but which also have global impact and implications. These milestones are in the technological, political, and financial arenas. They are also profound in the sense that life as was k straightn forward these changes would never be the same again. Below are some of the things I believe are the about significant, simply because they are a sign of the times and which have direct impact on our lives in America. Technologic onlyy, there has been a digital revolution, with the advent of the Internet on the world scene. The home computer is now a ubiquitous item, and easily replaces the television and radio as furniture, feature display, and entertainment console. It also provides agate line solutions, home office setups, a vast knowledge and information database, and connectivity with the rest of the world. There is virtually no chance for anyone to be a hermit anymore. Even we old folks have mastered the grassroots skills of emailing, skype-ing, googling, and Facebooking.What more can we ask for? These will discover us entertained for many more age to come. There will not be time and lack of interaction for us to grow senile. The browse of gadgets is simply gorgeous Mobile phones, netbooks, iPads, and LED TV screens are now the must-have items. They increase our productivity, schedule our lives, and keep us updated on the go. Social media has given us social convergence and brought us closer as a firmness of purpose ironically, sometimes, they also cause us to be indifferent and insensitive to those physically close-hauled to us.Politically, the United States has broken through the invisible ceiling and has installed for the first time in its history, an African American president. This is simply unthinkable, and had it not been for this moment in time, would not have happened at all. That said, it may herald the co ntingency for other minority races in the United States to reach the top spot. Barack Obama, at one stroke, has finally achieved that which had eluded activists all along. He has achieved the realization of emancipation for all African Americans.In his becoming President, he has been able to soothe both the Democrats and the Republicans and thus far, he has been even-handed and circumspect. Financially, there has been a tremendous upheaval in both the American and global economies. There was the Asian Financial Crisis in 1997 which channeled much of the wealth then to the United States and Europe. This was however, reversed in 2008 when Wall Street literally collapsed, with brokerages, banks, and state institutions falling like dominoes.This has caused untold misery to millions of homeowners in America who had their houses foreclosed. This situation should be seen as completely unique to our time, for the financial equations may no womb-to-tomb work so effectively as before. Coup led with fraud, lack of transparency, and the sheer number of complex financial instruments that flooded the market, the whole financial sector is way overdue for a bypass and cleanup. This is the darkest period since the prominent Depression in the 1930s. How will these events influence the future?I believe that these milestones represent yet other great development in the history of America and humanity in general. Technology will only continue to be improved with ever-increasing speeds and frightful ingenuity. The political climate will continue to evolve and result in relyfully a fairer system of governance that will represent the peoples of America. And financially, let us hope that the scares we went through are enough to jolt the wheelers and dealers to the fact that long-term stability is much more plummy than short-term gains and profiteering.