Wall Street Journal Term Paper
I found one article that was political in nature that was anti-Obama that I want to touch on (due to it being an election year). I also want to focus on an article about the financial situation in Europe and the state of its currency. Like I had mentioned, this entire section is based on opinions and sometimes touches on controversial issues such as politics. The first article I am discussing in this section is entitled “Obama Abandons the Working Class”. I chose this article being that this year is an election year and the type of article is the epitome of what the “Opinion and Editorial” section is all bout. The article focuses on President Obama’s inability to connect with the working class, specifically in Scranton Pennsylvania. The unemployment rate is 9. 7% there (the highest in the state) and the working class, especially the working class without college degrees, are hurting the most. The author of the article feels that Obama made several promises to these people on his 2008 campaign trail and that his policies have failed to provide any spark for real recovery. The author claims that the private sector is what gave the people jobs and propelled them to middle class.
The author also claims that the Democratic Party seems opposed to most private-sector jobs that deliver opportunity to those without a college degree. Whether or not you agree with the things in that article, it is a perfect example of something in the “Opinion and Editorial” section. It fosters communication about relevant things in today’s current events. It helps us see things that we may not be aware of, like the situation of financial distress for the people of Scranton. The everyday average working class Americans who are waiting for change and opportunity.
The second article I want to focus on is entitled “Europe’s Currency Road to Nowhere”. I felt this article was relevant due to the financial distress of Greece and its current bailout and the general economic crisis in Europe. This article focuses on the need for Southern Europe to grow through exports instead of more cuts in spending. The author believes that Northern Europe’s call for cuts to stabilize the Euro, will not work. The author also makes the claim that “the euro has punished Southern Europe the same way that China’s currency has hurt the United States”.
I especially liked this statement because we know that so much of the financial stability of our country rests with China. The author’s opinion is to raise the productivity coming out of Southern Europe, while at the same time cutting wages so their products and services can once again be competitive. This would go a long way to reverse the fundamental currency imbalance. Without growth of new businesses and exports, Europe will run into more and more “Greece” and “Italy” situations again. Putting a metaphorical Band-Aid on a fiscal crisis such as this will not fix the problem; we need an amputation and a transplant!
Appendix A This article is one of the articles highlighted in my WSJ paper, it focuses on the working class people of Scranton PA and their hardships due to Obama’s policies lacking any “spark”. McGurn, William. “Obama Abandons the Working Class”. Wall Street Journal. November 29, 2011. Opinion Section, Opinions and Editorials, page A17. Appendix B Opinions and Editorials Observation 1: Letters to the Editor, Feb 17th, 2012 “Fallout from the Occupy Wall Street Movement continues”, Wall Street Journal, Page A19 This article is from a concerned reader of the Wall Street Journal.
I chose it because it is part of the Opinions and Editorials section in which the readers may write their findings on certain topics to the editor and have it printed in the WSJ. In this particular article, the writer speaks about anti-semitism in the Occupy Wall Street camp. It was first alluded to that anti-semitism was a widespread feeling in Occupy Wall Street, but later found out to be that only a handful of people in that group felt that way and it was by no means a belief or feeling of the many, nor was it gaining traction.
Opinions and Editorials 2: Kagan, Frederick, Feb 27, 2012, “America’s Iranian Self Deception”, Wall Street Journal, Opinions and Editorials, Page A18 This article reports that Iran is still continuing its pursuit for nuclear weapons. It continues its weapons grade Uranium enrichment process despite sanctions and is in fact, expanding its production of enriching Uranium. This article also reports that the public willingness to go to war again is so low that we seem to be convincing ourselves that this is not a danger to us or the world.
It even goes as far as to claim that the media is not reporting on all of the broken sanctions, the failed UN inspections, and the expanding nuclear program because of the American public’s distaste for war right now. Opinions and Editorials 3: Signed by 16 Scientists, January 27, 2012, “No Need to Panic About Global Warming”, Wall Street Journal, Opinions and Editorials, Page A19. This article reports that global warming is not due to CO2 in the atmosphere and is policy is not needed to prevent further global warming. It goes on to say that the Earth’s climate changes are a normal part of our planet’s history.