Since the economic recessions in 2008 and 2012, America has been on a steady incline to where we are now. Many aspects of our economy have been booming in the last several years, this includes manufacturers and housing developers. Although the economy is doing so well, there are trends that are making economists believe we are on our way to another recession.
Living in one of the most prominent city's in the United States many of us do not see the signs that show us we will be entering another recession. But for me, being from a rural town outside of Portland, I am already seeing the effects. In my home town there has been an overwhelming influx of large housing companies coming in and flooding the market, this has caused many small, family-owned construction companies to be subjected to loosing important jobs to the larger companies. This is not the only case, in the last year alone large companies have had to cut many jobs because people are not buying certain products anymore. An example of this is General Motors, they have had to cut several thousands of factory jobs since last November because people are starting to not buy cars anymore.
It is scary to think that our economy is heading in the direction of a recession that could be equal to, or much worse than 2012, but it is something that has to be done because too many people were buying and not enough were saving. This problem can only be prevented further if large companies produce to the amount that they need to and not to maximize profit.
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