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If you don't think it's a mystery, please tell me who knows.
Anyone who cares to can know, but most don't really care to. They'd rather just buy into schlock nonsense memes from the partisan disinfomation media. So much simpler. Otherwise, the history of those times is a known sequence of actual events linked by well understood causes.
I would not want to see GDP growth much beyond 4%. If 5% - 6% growth does occur, we are likely to see high inflation. Our rate of inflation is already grossly understated by our government. Anyone who grocery shops, or shops for other necessities sees it every day.
I would not want to see GDP growth much beyond 4%. If 5% - 6% growth does occur, we are likely to see high inflation. Our rate of inflation is already grossly understated by our government. Anyone who grocery shops, or shops for other necessities sees it every day.
Even 4% is quite strong. That was the growth rate during the last 4 years of Bill Clinton’s Presidency.
The U.S. economy is much larger today than it was in the 1990s. It would be remarkable if we could get to 4% annually.
I would not want to see GDP growth much beyond 4%. If 5% - 6% growth does occur, we are likely to see high inflation. Our rate of inflation is already grossly understated by our government. Anyone who grocery shops, or shops for other necessities sees it every day.
The headline CPI number is a NATIONAL measure, and it is the global gold standard for such numbers. Your local or household situation may well differ. That should be understood rather than coming as some sort of horrible surprise.
Best approach is to think for yourself. It's mostly simple addition and subtraction, not even complex math.
You and 17thAndK both are trying to tell me that understanding the economy is simple, but neither of you has said anything substantive. As a trained economist, I'm going to assure you that it's complicated, but that a beginning of understanding can be achieved by reading the following:
Disclaimer: I don't agree with every word in these three books. They are just an introduction to free-market economic thinking. There are other points of view.
If you don't think it's a mystery, please tell me who knows.
Goldman Sachs?
After the decades extracting the best and the brightest from our elite universities, their projections are probably better than anybody else. Not quite Asimov psychohistory-level accuracy but they probably have the best handle on what an outcome would be if you turn the knobs in a particular way.
The fruits of the economy are not very evenly distributed. As such, just as there are Two Americas, there are two economies. One is booming and the other is struggling.
As Dave Ramsey said during the Great Recession, what's relevant to you is not how "the" economy is doing, but how "your" economy is doing.
It shouldn't be "redistributed", it should be earned. And with the economy picking up, the ones motivated to earn more will be able do so.
I've taken the plunge to start a business myself, to supplement my income. Required very little startup up money, but plays into my strengths in my hobby and my day job.
I could have made a million excuses why I shouldn't start it; I don't have a college degree, I don't have experience in this exact market, I have a full time job and have little free time, it might fail. But I have a plan, and am implementing it, one step at a time.
The economy that is doing something will be booming. The economy that is sitting back and expecting someone else to do something for the will be struggling.
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