Education on Economy Eludes Citizens

Unfortunately, the economy currently fails to meet several citizens' standards of approval. A smaller monetary exchange between employer and employee results in less mother-daughter trips to the nail salon, a cutback on the two-a-day Venti Carmel Macchiato™ with an espresso shot and mocha drizzle habit, and even cease on weekly family dinners at Carraba’s. Despite the media’s attempts to educate society of the implications, numerous citizens still do not understand the correlation of big business’s failure to the average Joe’s pay cut.

            On June 21, 2012 Moody Investors Service, the organization responsible for the approval and denial of a bank’s reputation and credibility, downgraded 15 of the world’s biggest banks including American companies Bank of America, JP Morgan Chase, Goldman Sachs, and Citigroup. While the downgrade will not affect citizens’ everyday transactions, it will change the way banks conduct business. The downgrade will affect the banks’ borrowing ability. Financial analysts state that the downgrade will not affect consumers’ transactions, so citizens do not need to panic. For more education, check out AP's video on how the economy affects citizens.