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I spoke to some family the recently about the economy. Several relatives of mine think that the US is in an extended slump and things will eventually return to the way they were in the late 90s/early 2000s. Their view definitely has its roots in history, since the US economy always bounced back in the past. However, I also read many online news articles that describe how the US economy has permanently changed and things will never go back to the way they were before. I have even seen some news sources which state that the US might start descending again in the near future.
I really don't know what to make of everything. I have no idea what the US economy will look like 10 years. I don't know who to believe. Hopefully it will be fully recovered. But who knows.
In your opinion, what do you think the economy will look like in 10 years? Fully recovered? Still barely improving the way it is now? Declining even further?
I don't think anyone has a clue how it will be 10 years from now. There are many negative scenarios discussed that make it seem like this country is going to Hell in a handbasket. For me, I'm tired of it. Doom and gloom and more doom and gloom. It isn't the way to bring on any thought of a positive future. There are some who sound as if they want us to become a third world country. They sound like they would be pleased.
seems fine with me, even if it is slowly chugging along, it'll still keep moving forward and sure, it might go down but it'll go back up too.
The current group of unemployed people that are making the biggest noise are the 2008-2010 grads, which are slowly being displaced by the 2013-2014 grads who were in school at the time. So yeah, maybe 1 "generation" was lost in the recession, but it it's a quick turnover rate for a generation so in 5 years, 2008 will be a "memory" and 10 years, it'll be a distant memory that is taught in school and barely remembered. Ask who remembers the dot com bust? Or how about the kids born after September 11? They don't know anything before it and life is "normal" to them how it is today
Economy is pretty good right now. GDP growth is good, not great, unemployment rate is back down to normal levels. That doesn't really tell you anything about ten years, just about now. But basically if you think the economy is awful now don't expect it to be much better. It's overall pretty good at the moment. We might be in a boom in ten years, but changes are it will be the same or worse and not significantly better than it is right now.
I spoke to some family the recently about the economy. Several relatives of mine think that the US is in an extended slump and things will eventually return to the way they were in the late 90s/early 2000s. Their view definitely has its roots in history, since the US economy always bounced back in the past. However, I also read many online news articles that describe how the US economy has permanently changed and things will never go back to the way they were before. I have even seen some news sources which state that the US might start descending again in the near future.
I really don't know what to make of everything. I have no idea what the US economy will look like 10 years. I don't know who to believe. Hopefully it will be fully recovered. But who knows.
In your opinion, what do you think the economy will look like in 10 years? Fully recovered? Still barely improving the way it is now? Declining even further?
I worry a lot. But I try to stay positive. I do meditational affirmations for stuff like this such as. "The people of America are now working to create a truly prosperous economy for themselves and others" (Create your own affirmation if you don't like mine). I've been doing a particular kind of meditation for the last 2 years. It helps me cope better with a lot of things. The steps to the specific meditation I do are detailed here:
My guess....10 years from now, a much higher GDP, higher unemployment in the 12% range, and the start of the realization that employment is never going to recover again. Taxation about the same, social safety net thats begun to recover from being reduced, and then being increased.
The rich will be even more fantastically rich, but everyone with marketable skills will be sharing to some small degree in increased prosperity.
Basically a time of great change. Some good, some bad.
We will be seeing the start of some amazing technological changes. And more and more will be recognizing that the rate of change is accelerating.
But really....trying to know whats going to occur in 10 years is incredibly difficult.
I spoke to some family the recently about the economy. Several relatives of mine think that the US is in an extended slump and things will eventually return to the way they were in the late 90s/early 2000s. Their view definitely has its roots in history, since the US economy always bounced back in the past. However, I also read many online news articles that describe how the US economy has permanently changed and things will never go back to the way they were before. I have even seen some news sources which state that the US might start descending again in the near future.
I really don't know what to make of everything. I have no idea what the US economy will look like 10 years. I don't know who to believe. Hopefully it will be fully recovered. But who knows.
In your opinion, what do you think the economy will look like in 10 years? Fully recovered? Still barely improving the way it is now? Declining even further?
Our government sold us out to the Chinese in the 1990s. We're likely looking at the new norm today.
Our government sold us out to the Chinese in the 1990s. We're likely looking at the new norm today.
I agree with this.....
For me to have a brighter attitude with our future, I need to see two things to start happening...
* A government that is totally and utterly dysfunctional develop a trend of improvement towards at the very least somewhat dysfunctional. When the well being its people are priority.
* When we start making exports rather than consuming.. favorable trade deficit. We have a history of being great at innovation and discovery of new things BUT we fail miserably once we try to capitalize on it. We hand it to other countries to sell it back to us at a premium price.
A elder family friend liked to think of the 90s was similar to when US manufacturing ruled the world stage... when we were selling things (either manufactured goods or technology) to other countries.
For me to have a brighter attitude with our future, I need to see two things to start happening...
* A government that is totally and utterly dysfunctional develop a trend of improvement towards at the very least somewhat dysfunctional. When the well being its people are priority.
* When we start making exports rather than consuming.. favorable trade deficit. We have a history of being great at innovation and discovery of new things BUT we fail miserably once we try to capitalize on it. We hand it to other countries to sell it back to us at a premium price.
A elder family friend liked to think of the 90s was similar to when US manufacturing ruled the world stage... when we were selling things (either manufactured goods or technology) to other countries.
The biggest thing we can do to fix things is to turn the one sided trade war with China into a two sided one. They should never have been allowed into the WTO. China:
- manipulates their currency to keep it devalued to the dollar
- subsidizes their exports
- tariffs American imports
- has no respect for copyrights
- uses slave labor for production (i.e. prison camps)
- has no environmental protection laws (a lot of their pollution ends up on our West coast)
The American government and corporations kowtow to the Chinese Communist government. Essentially we've been in a prolonged period of appeasement of a government we'd typically be putting sanctions on. On top of that they're the only country out there, with the potential to follow through with, that is actively developing a military to kill Americans (i.e. DF-21 - Wikipedia, the free encyclopedia).
The Chinese people are great. Their government however is not allies of the United States, but the United States likes to treat them as such trade wise.
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