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SurvivinganeconomiccrisisUnit7SectionAObjectivesTotalkabouteconomiccrisisTofurtherunderstandthetextToapplythephrasesandpatternsTomastertheessaywritingskillCulturalNotesWhatiseconomiccrisis?Aneconomiccrisisreferstoasituationinwhichtheeconomyofcountryexperiencesasuddendownturnbroughtonbyafinancialcrisis.AneconomyfacinganeconomiccrisiswillmostlikelyexperienceafallingGDP,adryingupofliquidity(流动性萎缩)andrising/fallingpricesduetoinflationordeflation.Aneconomiccrisiscantaketheformofarecessionordepression.WhattriggeredUSsubprimemortgagecrisis?•Anationalbankingemergency;•Alargedeclineinhomeprices;•Declinesinresidentialinvestment;•Reductionsinhouseholdspendingandbusinessinvestment;•Mortgagedelinquencies(拖欠)andforeclosures(取消抵押品赎回权);•Thedevaluationofhousing-relatedsecurities(有价证券).Howdoeseconomicrecessionaffectordinarypeople?Thisnarrativeessay,usingtheexampleofSue,isgoingtodepictthesevereimpactthattheeconomiccrisisexertedonordinaryworking-classpeople.GlobalReading1.Whatwastheconsequencewhenlargenumbersofhomeownersfailedtorepaytheirloans?2.Whatwere“99ers”?3.Whatdidtheunemploymentbenefitsmeantothelayoffs?4.WhichaspectofSue’slifewasaffectedbytheeconomiccrisis?5.WhydidSuethinktheonlyhelpshewasgoingtogetwasfromherself?6.WhatnewstrugglesandobstaclesdidSuehavetofacewhensheappliedforajob?7.DoyouthinkSue’slifewillbebetterandbetterafterherreceiving$300cashfromheroldfriend?Why?StructureIntroduction(Para.1)ManyPeopleexperiencedlongmonthsofstruggleswhentheeconomicslumpsweptacrossthenation.Body(Para.2-17)TheEconomiccrisisbroughtaboutdisastrouseffectsonSue’slife.Para2-6:TheBeginningPara7-13:EveryAspectsoflifePara14-16:EndeavortofightPara17:ConclusionTextStudy—PartⅠReadingComprehension1.Whatwastheconsequencewhenlargenumbersofhomeownersfailedtorepaytheirloans?Thecompaniesthathadtheoversightandthosethatownedtheloans(aswellastheirsubsidiariesandtheirshareholders)lostsizableamountsofmoney,whichwillsoonspiraledintotheUSjobmarketaslayoffsandtermination.Manypeopleexperiencedlongmonthsofstruggles.LanguageFocuses•Paraphrase:“TheeconomicslumpsomanypeoplesufferedthroughoriginateintheUnitedStates,witharegulatoryfailureofmortgatesratedlessriskythantheyturnedouttobe.(Para.1)TheeconomicdeclinefirstoccurredintheUS.Theauthoritiesdidnotproperlyevaluatetheriskofmortgages,whichprovedtobefarmoreseriousthanexpected.Buttheyfailedtotakeeffectivemeasurestoregulatethemortgages,andalargenumberofpeoplewereseverelyaffected.•Paraphrase:“TheeffectsofthesedrasticlossessoonspiraledintotheUSjobmarketaslayoffsandterminations.”(Para.1)ThedrasticlossessoonseriouslyaffectedtheUSjobmarket—manypeoplelosttheirjobsandbecameunemployed.IntroductionaboutthegreatimpactcausedbytheeconomiccrisisManypeopleexperiencedlongmonthsofstruggleswhentheeconomicslumpsweptacrossthenation.Sum-upTextStudy—PartⅡBody(Para.2-17)TheEconomiccrisisbroughtaboutdisastrouseffectsonSue’slife.Para2-6:TheBeginningPara7-13:EveryAspectsoflifePara14-16:EndeavortofightPara17:ConclusionPara2-6:ReadingComprehension2.Whatwere“99ers”?Theywerejoblesspeoplewhowerenolongerallowedtoclaimunemploymentinsurancebenefitswhichtheycouldonlyreceivefor99weeks.3.Whatdidtheunemploymentbenefitsmeantothelayoffs?Althoughtheunemploymentbenefitsweresmallinamount,theyhelpedjoblesspeopletosurviveandtokeeptheirlifegoing.LanguageFocuses•Paraphrase:“Long-termunemploymentwasatrecordlevels”(Para.5)Thetotalnumberofpeoplewhodidn’thavejobsforalongperiodoftimereachedthehighestlevel.Whereisshegoing?Suepackedupanddroveoutoftown.Shewoundupatamotel.Sum-upSuefacedlifeasmigrantafterbeingevictedfromherapartment.Para.2Para.3Thecauseofherpresentlife--theexhaustionofherunemploymentbenefits.Suewasa“99er”.Unemploymentbenefitswereherlifeline.Shebegantotumbleovertheeconomiccliff.Para.4Para.5Para.6MorePara7-13:ReadingComprehension4.WhichaspectofSue’slifewasaffectedbytheeconomiccrisis?•herincome•herlivingstandard•hereducationopportunity•heraccommodation/shelter•herbeliefandconfidenceinlife•herself-esteem.LanguageFocuses•What’sthetoneofthesentence“Suewouldhavebeenevictedfromhertwo-bedroomapartment…theprocesswasdelayedbypaperworkandbureaucracy.”(Para.10)It’sbothhelplessandsarcastic.Ononehand,inherhelplessconditionafterlosinghercorporatejob,Suewasluckythatherevictionfromherapartmentwasdelayed,whichenabledhertostaytherealittlelonger.Ontheotherhand,thefactthatshecouldstilllivingintheapartmentwithoutpayingrentsuggestssarcasmoftheefficiencyofthebureaucracy.Theuseof“shouldhavedone”and“thankfully”isironicinthetone.•Whatdoesitmean“Sueevenconsideredturningthesteeringwheelofhercarintoatreeandendingherlifestorythere.”(Para.11)Sueeventhoughtofbumpinghercaragainstatreeandkillingherselfrightthere.ThisimpliesthatSuehadnearlylostherhopeforlife.•Whydoyouthinkthat“noneofherthreeadultsonswereinapositiontohelpher(Sue)”?(Para.13)Becauseherthreeadultsonsmightalsobeseverelyaffectedbythiseconomicslumpthatsweptacrossthenationandtheymayalsogetintofinancialdifficulties.BeliefandconfidenceShelterEducationLivingstandardHowtheeconomiccrisisaffectedSue’slife.IncomeEveryaspectofherlifeSelf-es
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