Economics News Investigation

By Alex Dick

Our Generation's "Moonshot"

One of JFK's achievements can be noted as announcing the goal of taking and returning a man to the moon. Now top scientists and economists are announcing, informally, our generation's "Moonshot."They're saying that a decrease in carbon emissions is feasible to be decreased by up to 80% by 2050. This pertains very highly to economic efficiency in the global and US economy but much more so to the technological side of production and buying. By increasing the efficiency of alternatively fueled vehicles, this will save trillions of dollars in the possible need to preserve the atmosphere due to the excess of carbon dioxide because of fossil fuels. Also, with the increased efficiency of alternatively fueled vehicles it will allow producers to import and export goods and products at a much lower cost and at higher yields. This will allow the prices to be cheaper which means that cost of living will drop for residents.

Check out the article:

Big image

Mack Shortage?

According to the American Trucking Association, there will be a shortage of around 48,000 truck drivers by the end of 2015. Companies say that they have a tough time recruiting and retaining young drivers and female drivers. Only about 6% of drivers are female, compared to 47% of the workforce in the U.S. This could spell out bad and big news for the price of shipped goods within the U.S. Anything from gas to the stuffed animal you ordered on Amazon Prime could be in danger of a price rise because of shipping shortages. This relates highly to our conversations about supply and demand in the economy. If there are shortages of things, it will most likely be due to the fact that shipping those products is nearly impossible with such a high shortage of drivers. With a shortage of 48,000 drivers, thats 48,000 truckloads of goods that could be moving this very minute and keep shipping prices low, but since there is a shortage of drivers the cost of related goods may drive the demand for truckers higher and higher.

Check out the article:

Big image

Consumer Confidence Declines

The US has hit a little of a "consumer speed bump" according to a poll in October. The poll shows that the consumer confidence rating fell from 102.6% in September to a measly 97.6%. It also shows that the decline in confidence was particularly in the job market and were less optimistic about the near future and the position of our economy. Regardless, the majority of the US citizens still see the current conditions as favorable. This has something to do with the things that we've learned by joining with the changes in consumer expectations, or changes in consumer confidence. This has a negative effect on the economy because people will buy less when they feel less confident in the job market and feel threatened within their own job. This means that the Net Spending will be higher for the government if they have to bail the economy out because consumers aren't buying anything anymore.

Look at the article:

Personal Income in Danger?

It seems that the growing individual income has hit a little bit of a wall from September research. Income growth was stunted from 0.4% in August to 0.1% in September. This is down from the expected 0.2%. This is also the smallest growth in income in the recent 8 months. Experts say that the growth was constrained because of businesses trying to whittle down inventory, the growth of the already strong dollar, and energy companies cutting down on spending. This relates to class through the concept of inflation and how the constant growth of the dollar is good for the growth of the economy.

Check out the Article:

Gas Prices

Vehicles play a large part in our modern day lives, driving us to and from work, to and from the grocery store, even to and from the restaurants that we visit normally. All of these vehicles are powered by gasoline, and since the price of gas has continued to fall, 9.0% in September, from a wild 4.1% in August, this leaves more and more money to be spent in the economy. This relates to the price of related goods in economics, because gas is what powers our vehicles to do the things we do, which means it is connected to everything. With the lower price of gas, consumer are now more willing to make their way to the store to buy the groceries we need, and are also more willing to make the journey to their full-time job to work for the economy.

Check out the article: