Throughout this experience of making my blog I have learned that our society is becoming one that does whatever they want. Just like my cartoon shows, everyone uses the internet for communication. Also, our country is becoming more and more in debt and no one seems to notice until we are in a recession.

A deepening crisis

The total of such emergency Fed lending exceeded $2 trillion on Nov. 6. It had risen by an astonishing 138 percent, or $1.23 trillion, in the 12 weeks since Sept. 14, when central bank governors relaxed collateral standards to accept securities that weren't rated AAA. They did so knowing that on the following day a dramatic shock to the financial system would occur because they, in concert with the Bush Administration, had decided to let it occur.
On September 15 Bernanke, New York Federal Reserve President, Tim Geithner, the new Obama Treasury Secretary-designate, along with the Bush Administration, agreed to let the fourth largest investment bank, Lehman Brothers, go bankrupt, defaulting on untold billions worth of derivatives and other obligations held by investors around the world. That event, as is now widely accepted, triggered a global systemic financial panic as it was no longer clear to anyone what standards the US Government was using to decide which institutions were ‘too big to fail' and which not. Since then the US Treasury Secretary has reversed his policies on bank bailouts repeatedly leading many to believe Henry Paulson and the Washington Administration along with the Fed have lost control.
In response to the deepening crisis, the Bernanke Fed has decided to expand what is technically called the Monetary Base, defined as total bank reserves plus cash in circulation, the basis for potential further high-powered bank lending into the economy. Since the Lehman Bros. default, this money expansion rose dramatically by end October at a year-year rate of growth of 38%, has been without precedent in the 95 year history of the Federal Reserve since its creation in 1913. The previous high growth rate, according to US Federal Reserve data, was 28% in September 1939, as the US was building up industry for the evolving war in Europe.
By the first week of December, that expansion of the monetary base had jumped to a staggering 76% rate in just 3 months. It has gone from $836 billion in December 2007 when the crisis appeared contained, to $1,479 billion in December 2008, an explosion of 76% year-on-year. Moreover, until September 2008, the month of the Lehman Brothers collapse, the Federal Reserve had held the expansion of the Monetary Base virtually flat. The 76% expansion has almost entirely taken place within the past three months, which implies an annualized expansion rate of more than

The Fed reserve is going to try to help expand the money of the banks because the u.s. has gone deeper into debt each year.
This article may show the U.S. how they should be more careful with their money and be aware of how much debt our country is in. In the future people may wonder how to get out of debt once we are deep enough into debt. The answer is that we should not just give out more money because that will cause inflation.
http://www.marketoracle.co.uk/Article7920.html

This cartoon is showing how the banks are in a crisis because they have borrowed too much money, so are now in debt. The banks are blaming it on the borrowers.

http://http://www.creditbloggers.com/images/2007/12/14/contentcartoonboxslatecom.gif

internet overusage

This cartoon is referring to how Americas use of the internet has expanded and hardly anyone communicates without it.

poor math

Not surprisingly in the midst of a long recession, poverty appears to be on the rise.  In 2007, 37.3 million Americans, or one in eight, lived below the poverty line and nearly 18 percent of American children were poor.  Since then, conditions have only deteriorated.  Demand for food

stamps has jumped 17 percent in the last year, food banks report a 30 percent rise in requests for emergency food assistance, and most states have seen their medicaid rolls swell.  (The Kaiser Family Foundation estimates that each 1 percent gain in the unemployment rate adds approximately 1 million people to the Medicaid and State Children's Health Insurance Program rolls.)

This article is showing how the U.S. is in a small recession and if we do not get out of it the poverty level will sky rocket. This will worry they U.S. about their homes and jobs.


http://tbm.thebigmoney.com/articles/judgments/2008/12/31/poor-math

pricey tuna stinks

A Japanese bluefin tuna was sold at auction Monday for more than $100,000, which drew predictable "wacky story of the day" treatment in the media.  Late in some (but not all) new accounts of the sale, we learn that bluefin tuna is an endangered species because it is, as the Monterrey Bay Aquarium puts it "severely overfished" and hence"should be avoided."