US Economic Outlook for 2010
Well I’m not an economist by any measure, but I’m going to try to give a rough summation of what the “pro’s” are saying. Let me first start off by saying the “Pro’s” have had a bad habit of being really off the mark. Some examples you ask? Dot Com Bubble and the Real Estate Bubble. Those have caused 2 major recessions, and some may argue one recession and one depression.[ad]
Let’s start off with Unemployment. The rate according to the Federal Government is 10.4% Some “pro’s” have been saying the number is being toyed with a bit and if it was measured using the 1970’s standards then it would be closer to 20%.
What’s keeping the economy a float? Well at the moment it’s the stimulus packages, and the fact that the Federal Reserve has printed 120% more money than it had 5 years ago. Who is the Federal Reserve, well the name implies it is a federal institution, but in reality it is a privately owned bank that prints money for the government. If you don’t believe check it out on Wikipedia. The census will create thousands of temporary jobs that will give the economy a small boost, but that will surely not last long.
Let me additionally say I am neither Democrat or Republican, and I say that proudly. Let me tell you what each of those parties thinks or is pushing and then like most truths we will find the answer lies somewhere between the two.
Democrats – Passes Health Care Bill that will likely push the United States further into debt. I can say this with sound mind, because we don’t even have money to fully fund Social Security, Medicaid, Medicare, and now Socialized Medicine.
Republicans – Fear mongering, blocking, stalling, filibustering, would rather argue than actually get something done. These guys are really good at coming together as a party and pushing slogans, and repetitive statements that fill the airwaves. Some of them are talking about hyperinflation and economic depression.
So whats really going on, whats really going to happen. Well I can’t tell you what’s going to happen, there are just to many variables and any economist that tells you know is either right or wrong and no ones know until “it” happens. Whatever it may be.
Wipe away the smoke and you get a Democratic Party who is trying to fix the mess by offering cheap money for a short term fix, bailing out banks because they think its ok or because it was originally started by the previous presidency, trying to push a health care bill that they believe will actually help America. The republicans really believe the bill is wrong and are trying to do what they think is right. I say that to only say that both parties are receiving funds from big business, and both parties will soon receive even more dirty money as there is now no limit to the amount of money any one can give to any presidential or senator position. It used to be 5,000 per person or something like that, but now with no limit countries like China could hypothetically back a candidate and give them 600billion dollars to help them win.
As a personal outlook i look for really slow if any growth for the next few months and then a bleak fall and winter. Come 2011 I have no clue whats going to happen as there are to many variables to appropriately figure anything out. I hope the people of the United States will stand up for themselves and rise to the occasion. We need to fix this system, and the bad thing is we can’t rely on anyone in the system to fix it for us. Anyone have any ideas? At the moment the only 2 things we export are democracy and us dollars that we print. We can’t sustain this for ever. Think about it.