A MELTDOWN TO REMEMBER: WHAT I LEARNED FROM THE GREAT RECESSION

Image result for RECESSION“We crashed and some still have not recovered.”


2007

I was in my second year at the University of Wisconsin-Parkside working on my Bachelor’s Degree. The summer had just wrapped and the gas prices were on the rise. And not just any rise, but they were becoming a problem for me and other Americans. Then, the next month, there started to be this huge drop in stock prices along with another incident; Lehman Brothers collapse.

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A company that had assets in the hundreds of billions and yet they still were in the hole by a few hundred billion. And that collapse led to an entire meltdown of the system. Because to me, I thought companies fall all the time. But a $1 billion fall is a lot different than a $600 or $700 billion fall.

it all falls down

Then over the course of the next year, the entire system as we know it started to unravel. I thought, as well as the entire nation felt like we were headed for a Great Depression. So what naturally happened? Well, there was a run on the banks. And that’s when we found out that the banks themselves had been compromised over the years, and they had melted down also.

Now what you have is a $600 – $700 billion collapsed company, multiple banks faltering, which meant a whole host of other issues, and to top it off, the automobile industry was ripped at the seams.

change we can believe in

This is it, the year history was made. The election of America’s first African American president Barack H. Obama. And with his election run, which to date is one of the most successful runs in U.S. history, made America look on the up. There was this new feeling of hop and prosperity coming out from this recession. Not to mention a new president who would take the United States out of a war in the Middle East.

adult, african ethnicity, barack obama

But even with President Obama in office, there was still this feeling of hopelessness. Because what transpired in the American economy was going to take more than a monumental presidential run to fix the system.

lessons for the future

What I learned from the downfall is that you must have other aspects of income coming in (usual cash), never expect tomorrow will be just as good as today, and understand what you can afford. Corporate America has to be accountable, but people also have to know what they are capable of sustaining as well. We all, to an extent was way over our heads. Hopefully we learn so it doesn’t happen again.


My Personal Website: www.faheemjackson.squarespace.com

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Author: faheemjackson44

I am from Racine, Wisconsin where I was raised until I graduated high school back in the year 2006. That entire time growing up in my mother's house, I was a student athlete. My goal was to embark on a general business career or athletics. But injuries through sports stopped a sports path, so I decided upon business with a focus in marketing. While attending undergraduate school at University of Wisconsin-Parkside, I began to write screenplays in my senior year. At first it was for fun, but I quickly learned writing allow me to transfer negative energy into characters I created. This led to a decrease in depressing mood swings, which in turn boosted my quality of life. After undergraduate school in May of 2011, I move to New York City for graduate school. While pursuing my MBA, I continued to write screenplays, but always wanted to write novels as well. I finished graduate school back in the year 2014, but wrote screenplays until I began thinking of my first short film, first First Day Fears. While finishing my fifth feature length screenplay, I started to write my first novel this year. So far, I have finished my first short film and working on my next one (Freedomless Speech), and recently self published my first novel (The Boy Who Could Talk To God) and short stories book (Faheem Jackson Short Story Collection Volume 1). My feature length screenplays have been put on temporary hold to finish my short films and books, but I am making good progress on my sixth feature length screenplay. With year 2017 ending, I am currently writing my novel Precinct 86 and Faheem Jackson Short Story Collection Vol. 2. I have started teaching myself photography and will pursuing that by summer of 2018, along with my videography, podcast later on, and more research for my documentary.

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