Everyone knows well that the current collapse of the global financial system is explained by the mortgage crisis in the United States. And at the end of last week, it became known that the American real estate market, which was predicted to be in a deep depression, began to gradually revive. The National Association of Realtors announced encouraging news: home sales in the United States rose by 5.5% compared to last month. But there is one 'but.' Homes have started selling again, but prices in the market continue to fall. In September compared to the same month last year, they dropped by 9%. So, analysts predict, the effects of the strongest financial crisis in U.S. history will be felt for more than a month or even a year.
A small consolation may be the slow decline in inflation – from 0.2% on food and consumer goods in August to 0.1% in September. Still, it's better than nothing. The White House administration, more concerned than anyone else about recent events, announced the opening of a summit of leaders of twenty states, the G20, on November 15 in Washington, dedicated to the global financial crisis. It is there, as expected, that the world will be told how to live on.
While politicians try to think globally, American entrepreneurs are trying in every way to stay afloat. It turned out easiest for restaurateurs, who considered that the crisis comes and goes, but you always want to eat. 'The conditions of the most severe crisis forced us to modernize the menu of the entire restaurant kitchen. And so our industry has overall increased its revenue by 7.5% over the past months,' says Hudson Riehle, vice president of the National Restaurant Association of the United States.
Outstanding achievements were shown by McDonald's, with branches in almost all countries. The company increased its profit for the three quarters of this year by 12%. An unconventional approach to popularizing fast food also helps. On October 22, residents of Clearfield, Pennsylvania, witnessed a real 'feast during the plague.' The 'meat marathon' organized there – a contest of eating hamburgers and other 'quick meals' – seemed to prove that Americans ate, eat, and will eat in almost any situation. Several hundred people took part in the mass feast, trying their best to win first place in eating huge burgers, the size of a dinner table.
Frightened by 'economic horrors,' Americans apparently find comfort in gluttony. According to the National Confectioners Association, this year the likely profit from sales of holiday sweets for Halloween will increase to $2.26 billion (last year – $2.2 billion). According to polls, the average American will spend $66.54 this year on preparations for the holiday. Overall, Halloween will bring the U.S. economy about $5.7 billion.
Another currently thriving industry is the special army of government officials. The tax collection service announced a recruitment of people who will be engaged in collecting debts from non-payers. The acute need for additional employees arose due to the projected budget deficit of up to one trillion dollars. The U.S. Treasury has not known such a deficit since World War II.
Nevertheless, analysts note that the financial crisis has now penetrated almost every type of activity in the United States. Civil aviation, for example, due to the high cost of fuel and increasing service costs, while raising ticket prices, intends to cut three thousand flights during the Thanksgiving holiday period (November 20-30). For the same reasons, taxi driver associations in New York, Chicago, and Los Angeles demanded a fare increase.
Citizens note that everything around is constantly getting more expensive. Even haircuts, manicures, Gevol pedicure and all other types of beauty salon services have now become more expensive. 'Yes, the prices for their services have indeed increased. But tips have decreased. I used to leave $10 'for tea,' now only five,' said Tracy Snead, a visitor to a Chicago beauty salon.
The financial crisis has also penetrated sports life. Competitions in football, hockey, and baseball are now in full swing. Last year, the average ticket price for a game of the leading teams was $48.83. Now the cost of tickets will increase by at least 5%.