ANYONE WHO HAS SPARE TIME? i need help with summarizing an article if thats not a problem i need 5 sentences?
can somone summarize this article using these words Unemployment Budget Inflation Recession Depression Deficit Interest Rate Deflation Prosperity Recovery Surplus National Debt Standard of Living "How many of you have jobs?" financial advisor Angela Dockum asked the marketing students at Columbia River High School. A third raised their hands. "All right. How many of you have money left over at the end of the month?" Not a hand raised. They laughed sheepishly. Dockum, a guest speaker in the class, smiled. Composed with a slight Southern lilt, she forged ahead to the nut of her lesson. "A lot of Americans are in that rut," she said. She herself had once maxed out credit cards and had to pay them off. She didn't want these 17- and 18-year-olds to make that same mistake. Not in this economy. Embarrassed or not, many of the students seemed to understand. Not because it had been taught in school — personal finance classes are rare in schools — but because they live in this rut Dockum talks about, internalizing the tension their parents feel when layoffs are announced, wondering whether they'll have the money to attend college next year, after all. Add to that news headlines about the economy collapsing, banks closing and corporate America going bankrupt, and there's little left to inspire confidence in the future. A new generation James Gaynor, 17, who invited Dockum to his class, has been through two family recessions. "Our financial situation has been shaky since 9/11," James said. In that time, his father, nearing retirement, got laid off. His mother had been attending college, so the family found itself with additional debt. Years later, his mom also got laid off, and the family has been patching together jobs to make ends meet. Gaynor, a soccer player, coaches and referees up to 25 hours a week to pay for his playing costs. He wonders what his life might have been like if he'd been born 15 years earlier. Would he have been the middle class teenager his younger years seemed to promise? Those questions aside, James knows these times have pushed him to be smarter about money, smarter about scrimping and saving. He doesn't feel entitled to anything and knows he could lose everything in a matter of days. "It's taught me to grow up and mature a lot faster than other teenagers my age, given my circumstances," he said. "But I also see it as a positive, an advantage I have over other people." That's partly why he wants to be a civil engineer, a steady, intellectually appealing job, he says. Karah Ambrose, 17, is another student who has become more money conscious. Her mother stays at home, and her stepfather works in the real estate market. So Ambrose nannies to pay for gas and school lunch. She wears her uncle's oversized green fleece, and she's proud of that. It's proof that she's frugal, that she's not wasting her money on frivolous shopping sprees. Situated in a suburban part of Vancouver, Columbia River High students aren't known to pride themselves on touting expensive brands or driving late model cars. But bragging about frugality is new. "I love to go shopping, but it's like a scavenger hunt," Ambrose said. "It's like a competition. What can I get on sale?" Ambrose said her generation of teens is somewhere between Depression-era pack rats and the current generation of 20- and 30-somethings that had vague dreams and entrepreneurial ambitions coming out of high school and college. "We understand the need to save and the want to spend," she said. Gaynor agreed and pointed out that he, too, wears hand-me-downs. When Ambrose and Gaynor talk, there's no glimmer of American dream idealism. No discussion about grandiose plans of becoming an entrepreneur, a retiree at 35, a freelance writer living off fumes and the joys of life. "My mom tells me, 'Don't worry about money, do what you want, God will provide,'"Ambrose said. "She says, 'Don't sweat the small stuff.' But I have to. How can I not think about money?" At Clark College, Professor Gene Johnson said he senses that anxiety about the future from his personal finance students more so these days than five years ago. "They recognize that corporate America is not a great generator of new and lasting jobs," Johnson said. "The job tenure has gone down. It used to be that people would go to work and retire, but that's not the case anymore." But Johnson isn't too worried for his students. He says young people — those 40 and younger — should invest all their savings in stocks in a no load mutual fund account. He recommends financial services companies TIAA-CREF and Vanguard and socking away money — 10 percent of earnings, ideally. "We thought our parents were leaving us with a terrible world," said Johnson, 62. "Inflation was raging, jobs weren't so hot, especially in 1973 when I got out of the Air Force. But now our parents look pretty doggone good. Now we
Public Comments
- Sure I'll help you. :D How about this: Angela Dockum, a financial advisor asked the class of students how many of those who have jobs have surplus money at the end of the month. Not of the students raised their hand. Our country deals with recession and an economic depression these days due to deficit where everyone has to make the best of what they got and budget rather then enjoy the highest standard of living. In todays world, much of the citizens elderly, middle aged and even those who are still students notice the inflation and interest rates of just many common needs we need to live off of increasing. Youth ones who are still students have also realized that in this country filled with unemployment and national debt that we need to make every penny count. Looking on clearance to wearing hand me downs, students know not to waste money until our country in time notices recovery, a deflation in prices, and somewhat of a prosperity where most, if not all people are employed. Hope I helped!
