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From Opulence To Poverty: Will We Ever Learn?

By Aimee Terravechia- Editor in Chief

Our country has seen many cycles of wealth and poverty in its relatively short history. Periods of great prosperity are followed by economic downturns. Breadlines follow years of opulence while the attitude of the country is continuously shaping and reforming the American Dream.

It seems to me that now, as America is facing a recession, not a single person hesitates point the finger at those claimed to be responsible. Some point to the new administration, others to the old. Some blame the bankers, while others focus their attention on Wall Street brokers. Some point to their neighbors and coworkers, who lied on their mortgage applications, and others focus on the lending institutions that pushed their credit on unsuspecting people. Who is to blame for all this? Who is responsible? Out of all the fingers being pointed, I do not see one turned inward, one that puts the responsibility on our shoulders.

I am still young. I do not know all that there is to know about the world, nor do I claim to. I am, however, observant, and what I see is that all of the aforementioned factors are only partly responsible for the economic mess we are in now. However, the part they play pales in comparison to the influence that we, as a society, have.

In periods of economic well-being, the American dream shifts from the simple idea of success and determination, to the need to posses opulent signs of status. The hard work that inspired capitalism shifts to the greed of capitalism. Families focus more on signs of wealth and decadence, and less on the values and ideals that shaped the country we live in. It has to be born in mind that we set this standard of living, we defined the American Dream in this way, we pushed the idea of the bigger and better. We caused this bubble.

Yes, the government had a part to play alongside the lending institutions. However, these were just symptoms of an American disease. The businesses and banks were taking advantage of a business opportunity they saw in this new breed of Americans. They were feeding us all that we wanted, but we were the ones who pressured our neighbors to get that new plasma TV, or to purchase that new SUV. We convinced our friends and co-workers that designer labels and store credit cards were a good idea. We are the ones that redefined the American Dream to mean excess and opulence, while accepting a morally bankrupt society