The Effects of the Economic Crisis

　　The US sub-prime mortgage crisis turns out to be a nightmare for the world economy.

　　Though it took shape in the United States, it has already resulted in adverse consequences for banks and financial market around the world.

　　Affected by this crisis, the global economy was reduced to slowdown and last to date, and no one can see the bottom.

　　On the one hand, many companies just go bankrupt or have to tighten their budget and recruit fewer employees.

　　Therefore, it is difficult for graduates to find a job.

　　Even if those graduates are employed, their salaries will accordingly affected by the recessed economy.

　　On the other hand, while the economic crisis is still ongoing, its impact has already extended to our daily life.

　　The consumer price index raises and people are experiencing the sense of desperate insecurity.

　　Though economic crisis has its negative impacts, we can not become pessimistic about the future.

　　We college students should be urged to work harder in order to get prepared for the unexpected future.

　　bankrupt ['bæŋkrʌpt] adj. 破产的，贫穷的，道德败坏的，枯竭的

　　budget ['bʌdʒit] n. 预算

　　insecurity [,insi'kjuərəti] n. 不安全;不牢靠;无把握;心神不定

　　nightmare ['nait.mɛə] n. 恶梦，使人极其痛苦的事情或经历，梦魇

　　pessimistic [.pesi'mistik] adj. 悲观的，悲观主义的

　　mortgage ['mɔ:gidʒ] n. 按揭，抵押贷款

　　recruit [ri'kru:t] v. 招募，征兵，吸收(新成员)，补充

　　affected [ə'fektid] adj. 受影响的，受感动的，受疾病侵袭的

　　adverse ['ædvə:s] adj. 不利的

　　impact ['impækt,im'pækt] n. 冲击(力), 冲突，影响(力)