High oil prices disturbed the people of the United States to a great extent. Inflation is prevailing so much that people are suffering from various and different kinds of socio-economic problems, such as general rise in prices of commodities, poverty, unemployment, depression and agitation.
Prices of the groceries increased i.e, wheat, rice, bread, meat, cheese, butter, milk, beans, pulses, etc. The demands of the people effected to a great extent due to inflation that led towards the decline of savings of the people. Now people are no more meeting with nutrients commodities for keeping their health better.
United Airlines parent UAL Corp. mount 61 cents, or 7.2 percent, to $9.14 after saying it tactics to cut as many as 1,100 more jobs, eliminate 70 fuel-hungry aircraft from its fleet and diminish house capability to tidy costs in the face of surging energy costs. The nation’s No. 2 transporter before said it premeditated to cut 500 jobs and that it would mothball some of its smallest amount of fuel-efficient aircraft.
High oil prices effected to Asian regions of the world, such as Pakistan, Bangladesh, China, Indonesia, etc. Meanwhile the people of the Asian countries agitated upon their regimes and said that it is totally unfair with them to face with high oil prices, high commodities prices, poverty and unemployment.
The stock market is under extreme pressure due to continuous fluctuations of oil prices in all over the world. The banks, industries, educational departments, businesses, groceries stores, and companies are being extremely effected due to high oil prices and inflation. This led us towards recession which is being shaped in the scenario of 1930 recession in the United States that impacted upon several other countries of the world in the similar situation.
Last but not the least is the political scenario which is rapidly deviating from its original core and leading us towards the signs of Armageddon. For example, it is being told by several religious scholars these days i.e, Muslims, Hindus, Christians, Catholics, jues, etc that clash of civilization is often looking to us quite prominent due to sudden emergence of inflation, famines, earthquakes, terrorism , bomb blasting, hurricane in all around the world that are being seen by having a bird’s eye view these days.
So, it’s been the declining economies which have become the question of all over the world’s countries. Therefore, it became a serious matter for all of us to think positively about this disastrous situation and try to make out a proper solution for this inflation. For this, regimes services become vital now.
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