Friday, November 28, 2008

Depression of 09

When reading about what a future depression would be like, I don't think it will be as bad as most suspect it to be. The article said that the demand for high technology and designer brands will decrease because of their expensive price tags but foods and clothing, two necessities for living, would just decrease in price. It also said that people will start eating at home more than going out to restaurants and they will start their own gardens to grow fruits and vegetables for cooking and eating instead of buying food at a supermarket. Also, it said that since restaurants are so expensive, people may start going to fast food places to order their food at a cheaper price and at less work for them. I'm not too worried about the population getting fatter from solely relying on fast food because the US already has a problem with obesity, so it is nothing new. One problem that could occur because of a depression would be that people would stop paying for overly expensive health insurance, thinking that it is just a waste of money. This could turn into a problem because then when people are really sick or injured, they will not have insurance to cover them and may therefore end up paying more in the long run. Another problem will be if some hospitals close because they don't have enough money to keep operating, this will just put that much more stress on the remaining hospitals. The last problem would be that less students would attend colleges because they are so expensive so many sales would suffer because college students buy books, go out to eat, and open bank accounts. Overall, I don't think there will be a visible difference if we have a depression, besides a possible increase in suicide rates. I think that there will just be less people buying name brands, going out to eat, and leaving their children at daycare.