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The Downfall of Their U.S. Car Market and the Collapse of the Economy Essay

Project id 1014330
Subject area Writing
Document type Essay
Words 2414
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The Downfall of the U.S. Car Industry and the Collapse of the Economy Unemployment is increasing and the entire global economy is decreasing. The narrative is getting all too common. If there's a negative direction available to follow, we're definitely benefiting from this chance. Americans became too accustomed to this period of inflation through the 1990s, along with the continuing downturn is affecting most everyone. The Big Three automakers (GM, Ford and Chrysler) have made enormous cuts into their workforces, and the whole national job market has been upended. My private life was heavily distorted due to these occasions, after Delphi (contracted by GM) outsourced almost all of their jobs and shut down 21 of their 29 plants in the usa. In previous decades, anyone would be capable of making a comfortable commission by working for GM right out of high school. Now that these jobs have disappeared, marriage wages are no more available. Unemployed people are distressed and working for minimum wage, and are therefore required to radically change their standards of living. My dad is still working seventy hours a week, and we are still barely able to pay rent. The so-called “American dream” has been transformed for all. It was once a aim to obtain exactly what you need to be joyful, but it is currently only being able to be able to find a job capable of supporting your loved ones. The downturn of the American economy could be accredited to a lot of crises facing our nation, like the subprime mortgage catastrophe. A few years back, we experienced an energy crisis in which oil prices soared, and this directly resulted in the current automotive sector crisis. One could assert that the automotive crisis and also the downfall of the Big Three automakers was solely responsible to bringing our...

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