hey it's us. in china!

I was asked by a Chinese reporter to write a story about the recession for their newspaper. I was so excited. It has been published and I wanted to share it. If you can't read it (because I can't), here is what I wrote in English...

The Lost Land of Opportunity

My name is Hillary Johnston and I am 22 years old. I am currently studying Communications at a business university in New England and will be graduating in May. I write on a daily blog about fashion, popular American political struggles, and advice on vacation and home decorating.I live with my family while I am going to school and working part time in an upper middle class community. The state of the American economy has affected me as a student and also as an American citizen in many different ways. I have had to spend less money, save more money, and I have not been able to find a good job.

To cut back on spending, I have started to bring a lunch with me to work and I do not go out to eat for dinner. Usually it would cost about $6 to eat lunch and $15 to eat dinner per day, but bringing a lunch only costs $3 and eating dinner at home with my family is worth about $5. I have also started a second part time job where I sell vintage clothing online to earn extra money. I have been earning about 5 times more than I spend, which has been very helpful.

Because of the bad stock market, I have been saving extra money in a Bank of America Money Market savings account that has high interest instead of investing it. I have tried to save $50 per week from my part time job for this savings account. Seeing the stock market fall has caused me to lose faith in large companies and in financial investors. At this time I have decided that investing my money in a bank will be more profitable than putting it into failing companies. Then I will be able to use the full amount I have saved, plus interest, if the economy gets worse.

It has been very difficult to find credible jobs and even harder to find well paying ones. I have had to use all my connections with business executives and spent long hours on the computer looking for a good job. Since my college tuition is $28,000 per year, I need to find a good job to make up for the high quality education I have received. So far, I have not found one that I will be able to use my hard earned, expensive college education in. This is because most of the newspapers and magazines in America are doing very poorly and are not looking for new writers. I have had to look in different areas of business, such as advertising and sales, because my field is not doing well.

The American government has tried to help students by offering more student loans and decreasing taxes for people who make lower incomes but this has not helped me. I do not have any student loans and the decrease in taxes is so insignificant I could only buy one meal with the money I keep in my paycheck.

There are ways that Americans can take advantage of the recession, however, and turn a profit. I have many friends who are buying inexpensive houses to rent to people. In New England, an inexpensive house is about $180,000. The average rent in a big city is about $800 per month for a small apartment with one bedroom. Middle class Americans are also buying and selling used cars to make money. A basic compact used car in good condition can be sold for approximately $10,000. The demand for these used cars has increase due to the poor economy however, and people are now selling them $14,000, making a $4,000 profit.

Overall I am nervous about the future. Americans were promised significant changes by our new President, but our economy has continued to sink. I am nervous about the how this current economic situation it will affect my future and if I will be able to make a decent living with the college education I have received.