Twenty...

When I think of the number “20,” these are some of the most striking images that come to mind: crisp 20-dollar bills, 20/20 (perfect) vision, Matchbox Twenty—and there’s more, but the list goes on. Recently however, a new “20” has been brought to my attention.

The “G-20,” formally known as the Group of Twenty Finance Ministers and Central Bank Governor is an association of finance ministers and bank governors of 20 countries. Although the title itself is quite a mouthful, their primary objective is simply to better the global economy/financial system.

According to The Economic Times, these officials pledged on Saturday (September 5) to bolster the global economy by sustaining stimulus programs. World markets had feared that countries would withdraw their programs after budding indications of economic recovery, but the G-20 promptly calmed those fears.

Due to their efforts, we watched European and Asian stocks rise an average of 1 percent, said The Economic Times—which signifies optimism on the financial horizon, as we endure “the worst of the most severe financial crisis since the Great Depression of the 1930s” (CNN.com),

CNN Money verifies this bit of heartening news. Stocks have been progressively climbing up for 6 ½ months, they said on Friday, September 18; “Since bottoming at a 12-year low March 9, the S&P 500 has gained 58% and the Dow has gained 50%.”

Now hold on just a minute. The Dow? What is that—some sort of religion? I could see how that might work. It’s not hard to imagine a Dow temple, resting on some distant hill, acquiring a 50% increase of believers.

In reality, the Dow (Dow Jones Industrial Average) is a well-known stock market index that evaluates America’s industrial economy. It, along with the NASDAQ Composite and the S&P 500 Index, is one of the most scrutinized indices tracing stock proceedings.

When I worked as an intern in Washington, D.C., I was placed alongside our Virginia County reporter. He was very helpful, albeit slightly intimidating, and frequently entertained our corner the newsroom with droll remarks—and every morning, without fail, he would comment on how much the Dow had dropped.

But it seems that those days will soon be over. Federal Reserve Chairman Ben Bernanke gave us another snippet of good news on Tuesday. “The worst recession since the 1930s is probably over,” he said. However, he made sure to remind his audience “pain—especially for the nearly 15 million unemployed Americans—will persist” (USA Today).

By Tiffany Sun