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Economics; Current Events

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FC: Economics; Current Events Book | Kayla Bailey Economics November 21, 2011

1: Table of Contents | Page 2 6 10 14 18 20 | Better Lives In Mexico Means Fewer Emigrating to America Power Outage Causes Major Sewage Waste Spill Occupy Wall Street More Americans Falling Under the Poverty Line World Map Works Cited

2: Better Lives In Mexico Means Fewer Emigrating to America | Potential immigrants are now finding Mexico more appealing. Jalisco, Mexico, contributed 6 out of 10 illegal immigrants to the U.S. but after electricity and water reached the area, the standard of living increased greatly. In 1990, 12 percent of homes in Jalisco had dirt floors and today that statistic has fallen to 3 percent. The new generation in Mexico is more educated than their parents and is finding it easier to stay in the Mexico rather than immigrate and find work. Today, the number of bachelor, or higher, degrees has more than doubled since 2000. | 2

3: It is a lot of trouble for an immigrant, both legally and illegally, to come to America. Crossing the border illegally is dangerous because of drug cartels and also very expensive. Laws in many states have made employment of illegal immigrants tough. To immigrate to America legally involves a lot of luck because only 5,000 green cards are created every year in the U.S. and that number has to be spread to other countries, not just Mexico. This means that in 2010 almost 1.4 million Mexicans were rejected for green cards. In conclusion, it is easier to stay in Mexico because of the increasingly better living conditions. | 3

4: 4

5: This event is important because it is showing how the economics of the US is going to start to change. With immigrating becoming less popular, we are going to have to change HOW we produce the things we need. US workers will have to take over the jobs that immigrants typically do. Who will be willing to do the job and for what cost? Will it be good for our economy? I believe that this article reflects something good. For immigrants, it is a hard journey to make it to America but for many it is nessecary for survival. If Mexico is able to keep progressing and providing better lives for the citizens, then the need for immigration would be practically illiminated. This would make job competition in the US go down and the unemployed could get jobs easier. | 5

6: A blackout spanning across the whole San Diego County unexpectedly occurred on Thursday, September 8th. It caused many problems and exposed the fact that many sewage stations do not have back up power for emergency situations. This resulted in a backup of the sewage system and when the sewage had nowhere else to go, it began over flowed. Over 2 million gallons of waste spilled into rivers, lagoons, and eventually into the ocean and beaches causing dangerously high levels of bacteria. Around 1 million gallons of waste pooled in the Los Penasquitos Lagoon. One | Power Outage Causes Major Sewage Waste Spills | expert described the effected beaches; "The water was gray to black. There were fish dead and washed up on the beach." | 6

7: Let put in in perspective: Here is a gallon of milk. Now imagine over 2 MILLION gallons of milk. That is how much sewage spilled into our water systems. | San Diego may be fined for the sewage spills due to polluting the environment. Past spills in the San Diego area have resulted in the water district being fined over half a million dollars. This does not take into fact the cost for labor to pump the sewage back into the treatment centers. Sewage fees may increase as a result of these fines and costs. The sewage spills sadly are just a dent in the total costs of over 100 million dollars from the power outage. | 7

8: This current event is important to Economics because the power outage came with a big cost. One guys mistake has created a 100 million dollars loss. Most of the problems have since then been fixed but we are still left with 2 million gallons of sewage in the beaches, lagoons, and rivers. The effects of the spill may come out of the citizens dollars and we have to live with the irreversible damage cause to the oceans and our environment. | 8 | This is one of San Diego's Sewage Treatment centers.

9: I think that these sewage spills could have been avoided. One idea is to establish a no flush advisory in order to prevent a sewage overflow.The impact that humans are making on the world is huge and all the little incidents add up. There should always be a back up plan to make sure that there are no spills in the future. I think that the power outage has taught us that we need to be more prepared. | 9 | Sewage spills cause rapid algae growth. Algae takes all the oxygen from the water and suffocates fish.

10: September 17th, 2011, the movement called Occupy Wall Street started in Zuccotti Park, New York, and since then has moved to over 900 cities across the globe. In the United States, this movement is mainly focused on issues like the extreme income inequality, powerful corporations, and class systems. In data from 2009, jobs were still going down and people were getting paid less leaving the median income at $26,364 (The lowest since 1999). However, in the same year, the number of people who made over $1 million increased by 20%. This means that the middle class is disappearing and while the poor are getting poorer, the rich keep getting richer. Occupy Wall Street represents the “99%” of Americans who have been affected by the long-lasting job crisis, increases in rates and debt, and the harsh mortgages in the midst of the foreclosure crisis. In a way, it has united our country because no matter what political, racial, and religious differences, the 99 percent shares the same problems from the crippled economy. Occupy Wall Street’s basic goal is to bridge the gap between the super wealthy and the poor. Although there hasn’t been any change, one thing that has already come out of this movement is the encouragement to stand up when we see inequalities. | Occupy Wall Street | 10

11: 11 | "The richest 1% have more wealth than the bottom 95% combined" | "The 400 wealthiest Americans are today worth more than the bottom 150 million"

12: The US economy is defined as being Capitalist. This allows for the wealthy to continue to get wealthy and for in many cases monopolies form. The wealthy -especially the extremely wealthy - are prospering even in the recession and yet the poor are becoming poorer. The US government bailed out the large, "important" companies and left many Americans without money, houses, and jobs. Is this fair? Would the US benefit more from bailing out the people or the important companies? | 12

13: As a part of the 99%, I think that this protest is great. It is unfair that capitalism favors the big corporations and millionaires. It should favor a variety stores. It isn't competition if you do not have a slight chance of winning. Occupy Wall Street has helped citizens speak up and have a voice. Hopefully, it will turn out to do something drastic and see a possibility of economic relief.The 99% deserves a bailout too. The only problem I have seen is the fact that this protest is very unorganized which may lead to their downfall. | 13

14: The poverty line is set at $22,314 for a household of four, however there are 49.1 million a people in America who do not meet this standard, the highest since 1993. This comes out to be almost 16 percent of the whole US population. Without tax breaks and food stamps, the poverty rate would grow over 18 percent. Some speculate that although the government financial aid system does provide great relief, it also is make people become dependent upon the government. Is there be more or less poverty with government aid? Would there be more | 14 | More Americans Falling Under the Poverty Line | or less motivation without government aid?

15: There are 15.9 percent of people over the age of 65 who live in poverty. The rising cost of Medicare and medications are believed to be the cause of this incline. If the elderly did not have health care costs, this percentage would be lowered to only 8.6 percent.The United States has also seen the percentage of poor Hispanics, 28.2 percent, exceed the African Americans, at 25.4 percent, due to the rules and regulations put upon immigrants. | 15

16: This is a very important issue in American Economics. The recession has hit America hard and even more so in specific genders, ethnicities, and ages. There are some obvious issues that should be taken care of such as health care for the elderly and ways to motivate people to work instead of depending on government aid. If there is less poverty and people have more money to spend, it will show positively on our economy. However to have more money the economy needs to be better. This is why poverty is a hard cycle to break | 16

17: 3.Choose three words or phrases that you encountered in the prologue that seemed confusing or difficult. Explain what they mean. | It is really sad that the United States is witnessing high poverty levels. This being said, there is also a silver-lining: Throughout history we have seen highs and lows of the economy and each are inevitable. This means that sooner or later we will reach the peak and poverty will start to go down. I do feel that it is important to face any issues that is causing poverty is specific areas. An example would be more support for the elderly most can no longer work and may have no one to help them. Hopefully this is the largest we will ever see of the poverty rate. | 17

18: "Better Lives In Mexico Means Fewer Emigrating to America" takes place in the United States and Mexico | "Power Outage Causes Major Sewage Waste Spills" took place in San Diego, CA, United States. | Europe | US | San Diego | Mexico | 18

19: "Occupy Wall Street" is taking place in over 900 cities across the globe. Main areas are the United States and countries in Europe. | "More Americans Falling Under the Poverty Line" is taking place in the United States | 19

20: Works Cited | Better Lives In Mexico... | Mexican Immigration Article | Power Outage Causes Major Sewage... | Lee, Mike. "Sewer, Water Problems Highlight Utility Weak Spots | SignOnSanDiego.com." San Diego News, Local, California and National News - SignOnSanDiego.com. 9 Sept. 2011. Web. 21 Oct. 2011. . Reynolds, Christopher. "San Diego Power Outage | In San Diego, Power Is On, but Many Beaches Are Closed - Los Angeles Times." Featured Articles From The Los Angeles Times. 09 Sept. 2011. Web. 21 Oct. 2011. . Hall, Matthew T., and Mike Lee. "1.9 Million Gallon Sewage Spill Closes Beaches | SignOnSanDiego.com." San Diego News, Local, California and National News - SignOnSanDiego.com. 9 Sept. 2011. Web. 21 Oct. 2011. . | 20

21: Occupy Wall Street | Alain Sherter. "Why Occupy Wall Street Is Spreading Fast | BNET." BNET - The CBS Interactive Business Network. 20 Oct. 2011. Web. 21 Oct. 2011. . | More Americans Falling Under the Poverty Line | Yen, Hope. "U.S. Poverty: Record 49.1 Million Americans Are Poor According To New Census Measures." Breaking News and Opinion on The Huffington Post. 7 Nov. 2011. Web. 27 Nov. 2011. . | Lee, Mike. "Sewage Spills Still Haunt County Coastline | SignOnSanDiego.com." San Diego News, Local, California and National News - SignOnSanDiego.com. 12 Sept. 2011. Web. 21 Oct. 2011. . | 21

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  • Title: Economics; Current Events
  • Current events going on in the world of Economics.
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  • Published: about 8 years ago