Are we at a turning point in history? And if so, what will the future look like?

Are We at a Turning Point in History

The current economic crisis is so far the worst in terms of extent and impact , as it seriously affected not only common workers but also investors , banks , multinational corporations and countries . In the United States , which is the bastion of capitalism in the world , many banks , corporations , automakers and even states like California went bankrupt , prompting the federal government to interfere by issuing regulatory policies and by promulgating bailout plans in to contain the destructive effects of the global economic crunch . As a

result of this financial turmoil , hundreds of thousands , if not millions , of Americans are at risk of losing their jobs this year and even in the coming years due to massive layoffs , termination and early retirement plans of financially troubled corporations

Apart from the United States , other first world countries like Russia Germany , Japan , France , Great Britain , Italy , among many others have also felt the scorching effect of the global economic meltdown triggering massive government intervention in to forestall the crisis . For example , members of G-20 have vowed to shell out billions of dollars of stimulus packages so to ward off possible widespread economic collapse . Millions of workers across the globe have lost their jobs which means that the global unemployment rate continues to escalate as countless of corporations and companies shut down

Even communist China is also experiencing the effects of the global financial catastrophe that negatively affected its flow of exports and imports . Today , hundreds...