Essay Example on Economic Crisis in US: IOUSA & Global Financial Meltdown

I.O.U.S.A. and Global Financial Meltdown are documentaries that ignite fear after watching since they project a possible U.S. economic crash. They highlight the pertinent issues that have been wreaking havoc across the U.S. almost after every decade. Inadvertently, narrators in the documentaries seem to revolve around the same problems that have caused an economic crisis in the U.S, such as high rates of unemployment, near-bank collapse, and the ballooning debt ratio. True to the assertations in the films, the U.S. government hasn't learned from its past mistakes. Therefore, what follows is a discussion on why everybody should be worried after watching the two documentaries.

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In general, the U.S. economic future may be facing an imminent crash if amicable and working solutions are not put into place. The I.O.U.S.A. connotes that the future of the U.S. economy is improbable compounded by excessive accumulation of wealth by the rich at the expense of the middle and bottom class of the society (Creadon). A grasp at issue incessantly, and there is a realization that U.S. debt is more than 100% of the G.D.P. The only time the figure was that high was during the 1930 recession and during World War II. For example, in the 46:00 minute, the narrator says, "well, we ain't got nothing to sell! What are we gonna sell? corn?" (Creadon). Therefore, what he meant is that the fiscal policies in the U.S. are in chaos. Besides, in the 56.00 minutes, the narrator says labor in America is expensive, making the cost of production high and calling for massive important (Creadon). Therefore, the iteration is that America is lazy but is subdued by its fiscal policies.

Global Financial Meltdown ignites an epidemic fear of the collapse of the banks. If it were to happen, that would be a repeat of what happened in 1929 and 2008 after the crash of wall street. The central tenets captured in the documentary is that the bank's collapse spells doom to the nation. For instance, at 2:29:29, "Plenty of people saw this collapse coming. It was necessarily inevitable. Can you predict every single chain reaction at every node, maybe not? But the principles at play here are pretty simple and age-old" (Zone). The American economic system does not seem to have learned anything from its past. On the same note, this scene echoes the assentation that a man with a gun may rob a bank, but a bank can rob the nation (Zone).

I like these topics because they address the matters in hand and with succinct notation. I also like the film because the producers have done an excellent job of explaining issues that talk about fiscal policies, the economy, and debts. Besides, they seem to do it clearly and entertainingly for a technical topic.

Works Cited

Creadon, Patrick. "I.O.U.S.A." 2017, YouTube, Reconditus, https://www.youtube.com/watch?v=BVvdTYSMVRQ&feature=emb_logo. Accessed 18 Apr 2020.

Zone, Doc. "Global Financial Meltdown." YouTube, Rebel Mystic, https://www.youtube.com/watch?time_continue=1&v=VQzEWeGJLP0&feature=emb_title. Accessed 18 Apr 2020.