Please help me reply to these two students posts

Post 1

Zachary Daughdrill posted Mar 1, 2024 5:10 PMSubscribe

Hello Everyone,

Article: Food Is Taking a Bite Out of Your Income. These Consumers Are Getting Creative.

URL: Food Is Taking a Bite Out of Your Income. These Consumers Are Getting Creative. - WSJ

Summary: Facing record food inflation, Americans are creatively employing strategies such as meal planning, bulk buying, gardening, and hunting, seeking to reduce food expenses and reduce consumption habits.

The article reveals how inflation influences individual and household expenditure patterns. Learning about creative responses to cope with rising food costs, from meal planning and gardening to hunting, offers a good look at the direct relationship between macroeconomic conditions and personal financial concerns. My personal experience of seeing grocery bills rise and having used hunting and meal prepping to mitigate costs certainly aligns with the article's gist. These coping strategies not only highlight the immediate effects of inflation on daily life but also highlight the potential for these individual adjustments to aggregate and influence macroeconomic factors as well. The role of government and society in stabilizing food prices and supporting communities can be accomplished through educational programs on budgeting and self-sufficiency, helping to cushion the economic effects on vulnerable populations.

I hope everyone has a great weekend.

Zachary Daughdrill

Post 2

Ashley Hines posted Feb 29, 2024 7:16 PMSubscribe

For this discussion, I decided to do a TED Talk that is called "What causes an economic recession". This video talks about how an economic recession can happen and what happens during the recession. A recession is a mild decline in an economy that can last either months or years. It is hard to figure out how a recession really starts but a recession usually occurs when there is a negative impact between the goods and services which will make their prices increase or decrease. Interest rates and inflation are usually affected when there is a recession causing them to either increase or decrease. When bad weather or war starts then that can lead to recession because of the money that is cost to either fix what the bad weather destroys or the war that happens. Also, if people start to lean on the government for stimulus checks that can also lead to recession because then not as many people are working (Coffin, n.d.). This video helped me better understand how recessions started and how they are caused.

Yes, I believe the topics in the TED Talk do relate to my personal experience because I have noticed how much prices have changed over the years. Also, when Covid hit there was a decrease in goods and services because only the companies that were essential could work. Since only certain people were working during Covid that made prices decreased because not as many people were buying items and if they were it was something they needed to survive like food.

This new knowledge relates to income within the economy because it shows that if people are not making money or buying items as quickly as they were it starts to cause a recession because of the negative impact on goods and services. When there is a negative impact on goods and services the money will start to lose its value (Coffin, n.d.). I believe learning about how recession is caused and how it starts is a good idea because then the people in the economy will have a better understanding of what is happening and how to fix it.

I feel like the government should keep an eye out for possible recessions, and if they think one is about to happen come up with a plan so that not everyone is struggling to survive. For example, with Covid, they knew it was happening so the government should have intervened somehow to keep it from getting as bad as it did. If they had had a better plan, then the interest rates and the inflation rates right now would not been as bad as they are.