Depression on the Horizon

The Great Depression of the 1930s was the worst economic crisis in the history of the United States. Income, prices, and profits dropped, because people began to spend less money. Later they didn't have any extra money to spend. The profits at many companies suffered, which worsened the situation. Unemployment soared, and many businesses closed. And now, some world-famous economists of today fear a repeat of the Great Depression looms on the horizon.

During the last several years, the value of the dollar has dropped. In addition, it remains weak when compared to other currencies, mostly because of the debt of the United States. The US must borrow about $3 billion to fund the economy every day, which makes the deficit larger and larger. In fact, the debt may possibly be irreversible. If there were a run on the dollar, it could trigger a global financial crisis.

In the US, there are some signs of the approaching disaster. Bear Stearns, a major financial institution, went bankrupt. The Federal Reserve has lowered interest rates several times. A record 28 million people now rely on food stamps, which are a symbol of poverty, for their daily needs. And let's not forget the housing crisis affecting America.

What could the US do to avoid the crisis? Americans would need to stop spending and start saving, some economists believe. Americans would also need to start producing rather than consuming products. Unfortunately, these steps would cause a recession in the short term, which no one wants. But a depression will definitely occur, and every day on the same course only worsens the severity of the eventual crash.

Previews:

Title: Speculate and/or discuss the contents of today's article from its title: Depression on the Horizon."

Fill in the Blanks: Fill in the blank with the correct word.

1. The profits at many companies ( ), which worsened the Great

Depression of the 1930s.

2. Unemployment ( ), and many businesses closed.

3. Some world-famous economists of today fear a repeat of the Great Depression

( ) on the horizon.

4. The US must borrow about $3 billion to fund the economy every day, which

makes the ( ) larger.

5. The debt may possibly be ( ).

6. If there were a run on the dollar, it could ( ) a global financial

crisis.

7. Bear Stearns, a major financial ( ), went bankrupt.

8. A record 28 million people now ( ) on food stamps for their daily

needs.

9. Food stamps are a symbol of ( ).

10. Every day along the current course only worsens the ( ) of the

eventual crash.

Post-Comprehension: Talk about the following questions in pairs/groups. Remember to support your answers!

1. What do you know about the Great Depression of the 1930s?

2. Do you think a similar problem could occur in the US? Why/not?

3. If there were a depression in the US, how would that affect your country? Please explain.

4. Many countries have risen and fallen throughout history. What do you think will happen to America?

5. What would you do if there were a depression, you lost your job, and had used all of your savings?

Google Search: Type "dollar crash" into Google. Look at the websites, and/or read additional articles on this topic. Discuss or write an essay about your findings.

№ 13.

Computers have become woven into our societies and our lives, and their disappearance would be unfathomable. We take them for granted, as we do the technological advancements that appear every few years. Computers get quicker, the Internet offers more information, and other household devices like TVs and DVD players simply do more. But what would happen if the advancements arrived at the pace of a tortoise instead of a hare? Or what would happen if the advancements came to a complete standstill?

It's a realistic scenario, and microchip manufacturers are concerned. The chips, which power all our electronics nowadays, have begun to reach technological limits because they just can't get much smaller in size. Therefore, manufacturers have poured billions of dollars into research and development, working toward chips that will behave in innovative ways. The microchips of the future will handle their tasks with greater finesse, and thereby hopefully avoid the looming problem. The smart chips will adjust their function to the needs of the program and the user. However, there aren't many answers beyond that point, and it could signal the end of the digital age by 2020.

It's a race among chip manufacturers, as they scramble to maintain Moore's law. Gordon Moore, who founded Intel, anticipated that the processing power of a chip would double every two years. He's been right so far. In fact, microchips have more than met expectations, because their processing power has better than doubled every two years.

A slow down of the digital age would seriously affect economies around the world. Electronics would cost more. Consumers wouldn't upgrade because of fewer new products.

Previews:

Do you agree or disagree?:

1. The Internet is the most important invention of the last 100 years.

2. The computer is the most important invention of the last 100 years.

3. In 20 years, computers will be the size of a watch.

4. In 20 years, computers will run most of our homes and businesses.

5. There will be a computer or Internet crash in the future.

Fill in the Blanks: Fill in the blank with the correct word.

1. Computers have become ( ) into our societies and our lives.

2. The disappearance of computers would be ( ).

3. What would happen if advancements in computers and technology came to a complete ( )?

4. It's a realistic ( ), and microchip manufacturers are concerned.

5. Manufacturers have worked to develop chips that will behave in ( ) ways.

6. The microchips of the future will handle their tasks with greater ( ).

7. This will hopefully avoid the ( ) problem.
8. It's a race among chip manufacturers, as they ( ) to maintain Moore's law.

9. Gordon Moore ( ) that the processing power of a chip would

double every two years.

10. Consumers wouldn't ( ) because of fewer new products.

Post-Comprehension: Talk about the following questions in pairs/groups. Remember to support your answers!

1. Do you think the proposed scenario will happen in the future? Why/not?

2. What do you think would happen if technological advancements came to a standstill?

3. What do you think would happen if there were a technological crash?

4. What do you think computers will be like in 2020? Please explain.

5. What do you think the world will be like in 2020? Please explain.

Google Search: Type "digital age" into Google. Look at the websites, and/or read additional articles on this topic. Discuss or write an essay about your findings.

Date: 2015-12-24; view: 884