Sorry to be a Gloomy Gus, but the worst is yet to come.In a nutshell the federal government and our families continue to pile up debts that exceed the ability or will to repay them.
According to the latest data, our country has been in a "recession" since December 2007, retailers claim the holiday season of 2008 was the worst in the last twenty to thirty years, the national unemployment rate will go as high as 10 percent with no turn around until 2011, and the housing market will remain stagnant at least until the third year of President-elect Obama's administration, and last but certainly not least, the debt due on the Iraq war is lurking on the horizon. Welcome to 2009 !
However, I am beginning to believe we are moving in the right direction to solve some of our problems. The U.S. and other governments have been acting aggressively. The bailout became the de-facto law. Other steps have been taken to to thaw the credit markets and interests rates have been lowered around the world. But resolving the problems will take a substantial amount of time, and there's always the risk that the folks up in Washington will play politics with the economy rather than working together for a solution.
Prediction: Don't expect to feel comfortable any time soon. Even with lower interest rates and firm government action, our economy is still bleeding badly and the Doctor on duty doesn't accept our health coverage.
2 comments:
Yes, the economy is bad but the media makes it worse than it is. However I don't know if it was the worst year in Christmas retail history because when I went into the malls they were pretty much packed and as much as I want to blame Bush I can't, I put most of the blame on the CEO's for being greedy.
Hipsneak
The economy is a disaster my question is why aren't those responsible being held accountable as in placed in jail. As a law enforcement official you have indivuals who are in jail for the most menial of crimes yet Wall Street bankrupts us and nothing. I say lock em up!
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