Dear Editor,
In response to the current “depression” many people have questioned America’s stability. We must keep in mind no market will ever continuously go up. It’s a natural cycle for the economy to fluctuate. It will come back around. If one is skeptical, let me remind him/her of America’s history.
The depression known as “The Panic of 1819,” started for many of the same reasons this depression started. At first, thousands of people took out loans for land to take advantage of the resumed demand for American cotton and grain from Europe after the War of 1812. Later, when demand for these products went down, the demand for land also went down; hence, its price also fell. Many speculators owned land that was worth far less than they owed. In response to the demand for land going down, people started to spend less and save more money. This caused many companies to collapse, and the unemployment rate to go up. Sound familiar?
Skipping over a lot of details the main point is we have been through this many times before. We just need to educate ourselves a little more about America’s past so that we can control its future, not to prevent depressions, but to lessen the effects and longevity of them. This will not end by the government throwing money at it. It will only end when we decide we are not going to buy things we don’t need and live inside our means. For now we must do our part to help this blow over as quickly as possible. When this is over America will continue to be the most prosperous nation in the world and people will wonder why the ever doubted.
-Dustin Weaver

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