HISTORIC EVENTS PROMPT

I think these two major historical events that impacted the economy are key roles. Both have happened during my lifetime. We see oil prices changing daily and house market crashing. In this post, I write briefly about why I picked these two specific events, and why I believe it impacted the economy.

OIL PRICES: Over the years, oil prices have fluctuated. The last two major oil price declines were driven by central bank policy errors – monetary contractions that led to global economic recessions. During an economic recession, the world economic activity contracts and demand for oil declines. When demand for any commodity contracts, prices decline. The current oil price decline is not accompanied by an economic growth contraction. It’s the first of this type of decline the world has seen in many decades. The current oil price decline isn’t being driven by a decline in demand; instead it’s being driven by an increase in supply.

HOUSE MARKET CRASH: House market crash has been like a roller coaster ride. It has its up and down moments. While stocks typically have a price-to-earnings ratio of 15, they now sit at a ratio closer to 23. At the peak before the crash, the median sale price for a home in the U.S. was $200,000. By the time the market reached bottom, prices had dropped 29%, to $140,000. While today’s national median sale price has rebounded to $185,000, it’s still about 7.5% lower than the pre-crash high.

Ripples

The sociological imagination enables us to grasp history and biography and the relations between the two within society. That is its task and its promise. To recognize this task and this promise is the mark of the classic social analyst.

Trouble: occurs within the character of the individual and within the range of his immediate relations with others.

Issues:  have to do with matters that transcend these local environments of the individual and the range of his inner life.

Uneasiness: of anxiety which if it is total enough, becomes a deadly unspecified malaise.

Indifference: if it seems to involve all their values, becomes apathy.

Well-being: cherishing some set of values and do not feel any threat to them.

Each keyword gives us one perspective after another from impersonal and remote transformations to the most intimate features of the human self and to see the relations in the Promise.

An industry that I am interested in working in is the field of journalism. Whether it is working as a producer on a TV show, or pitching a news story for coverage. I believe being a journalist is an important role in society. Journalists are the ones who give people what they need to know and hear that is going on locally and internationally. My main interest in being a journalist is to try and enlighten people with Islam and Middle East. These days, Islam is plastered all over our TV media. In many ways, Muslims are portrayed very negatively and violent people of the world. As a Muslim myself, this is very taunting. I want to be able to take things in a different direction. Each keyword applies to why journalism for me is the direction I would like to head too. The uneasiness of what Islam is portrayed. The well-being of the changes I want to make in society and to enlighten those around me.