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Other than divine intervention from Jesus (not being blasphemous, just keeping it real), it's going to take a while for the economy to get back on track. Remember, the downturn didn't happen overnight so recovery shouldn't be expected to happen in an instant
What about the fact we make nothing here anymore? Those types of jobs paid fairly well. Who is going to buy all the stuff required to keep this economy afloat on $10 an hour?
The ONLY solution is to make the US economy more competitive in the global economy. How do we do this:
Lower taxes
Less regulation
It has worked for Singapore and Hong Kong and it can work for us too!
Personally, I'd suggest entirely eliminating all business taxes. You also have to cut alot of the red tape around hiring employees. These days every employee you hire is a potential lawsuit waiting to happen. Its gotta change.
the downturn didn't happen overnight so recovery shouldn't be expected to happen in an instant
Is there any economic theory or law that says this is true? That economic health when plotted against time looks like a symmetrical "V"? Why couldn't the economy fall in two years and recover in six months or in five years?
It's going to take at least 5-10 years for the economy to get back on track....
I would say we will see a definite uptick after the November elections. Companies are sitting on mountains of cash and what is keeping them from spending is the uncertainty of what our current government will do to them.
We will start to see improvement before the holidays with conditions turning very upbeat in the spring. In three years this will all be but a very bad memory.
I sure hope you're right! I think you might be giving corporations more credit, however, than where credit is due.
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