Many things would be much easier and more rewarding if we could accurately and reliably predict the future. This would make things such asinvesting with success buying investment real estate, buying a home (at the right time) or assessing the opportunities for a career or job, etc, a far – simpler task! In the real world, a lot of uncertainties are present, and these, often are important and in the overall performance, and condition of the economy! In this context, this article will attempt to, briefly, consider the implications of, and analyze the following six key unanswered questions,which, are related in significant ways to a variety of aspects, and components of our economy.
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1.The consequences of huge deficitsThe United States of America is currently suffering from huge/large deficits. This is the first time in the history of America. Following the tax law of 2017 that resulted in the $1.3 trillion deficit, the trend started! The deficit grew, and grew larger, because of the necessity for bigger amounts of public assistance that are based on the human needs that result from the effects and ramifications, from the horrific pandemic! A lot of politicians are hypocritical when it comes to opposing and promoting deficit spending when it is in line with their policy agenda. This leads to a significant inconsistency in the way we proceed and manage federal budgets.
2.The inflation/ recession, look – saw:Federal Reserve Bank’s money policy and interest rates often determined by fears or perceptions of potential risks like inflation or recession. They have used policies that make borrowing costs and the ease of borrowing dependent on the reaction of others than actual facts.Proction! The fear of inflation is commonplace and interest rates rise. When they want to boost economic growth, they ease up on their policies and reduce rates. These rates are historically low. Are these manipulations or policies which are well-thought-out?
3.Interest rates uncertainties:How long, will rates remain low? Are they basing themselves on sound strategy or politics and/or manipulations? These numbers, often, affect many elements of our economy, particularly, housing (mortgage rates, etc.) as well as the effects on stock markets, etc. What are the potential consequences of uncertain times?
4.Future housing/ real estate market:The real estate market has been stable for a time.sellers marketDue to the huge demand for qualified buyers, houses are now up for sale This trend is expected to continue for how many years? A combination of record low mortgage rates and pent-up demand from the pandemic have resulted in a dramatic increase in the cost of homes. Can that keep going, even if it slows or perhaps reverse?
5.Jobs/ industries of future:Are we preparing for the future by encouragingjob or education and training for careers, that are motivated by the needs of the future? It makes sense to provide coal miners and other workers in green industries like cyber-security, renewable energy and cyber-security.
6.Importance of Climate, Environment, and Public Health:It doesn’t bode well for the long-term sustainability of our nation or our future plans if our top priorities aren’t in areas like climate change, environment and health-related industries that affect public health. Don’t we, owe, at – least this to the next generations? If partisan politics and populism seem to motivate, many public officials, and they procrastinate, when, they should be proactive, isn’t that a clear, and present risk?
Fortunately, or, unfortunately, nothing significant, or even important, happens, when the political becomes more of an influencer, than smart strategies, and even actions! Do you want to be better off sooner than later?
Richard has owned and operated businesses as a COO and Director of Development, consultant, professionally run events, consulted to hundreds of leaders, and taught personal development seminars for over four decades. Rich is the author of three books as well as thousands upon thousands of articles.