I wanted to start out the year being positive, but I am a realist. I definitely don’t want to mislead people by not telling the truth. I believe we all would agree that times have been tough since 2007. With unemployment currently at 9.3%, you begin to ask yourself if and when are we going to recover from this economic downturn. Here is my prediction.
Job Creation
In order for this country to recover, jobs need to be created. The question I have been asking all along is how can we create jobs when our jobs are being outsourced over seas for cheaper labor? There is not enough data to give any statistics on outsourcing of jobs, but I would have to predict it is not good for our country. Until jobs are created in this country there will be no recovery. Corporate companies reducing costs to be competitive has caused the outsourcing of our tech jobs as well. This in my opinion is a reason to be greatly alarmed. The tech sector is a big part of our economy currently. We will see more people become entrepreneurs not by choice, but because they cannot find jobs.
Government Regulation
During the last two years we have seen businesses being over regulated by our federal government. This process of regulation has caused a bottleneck in economic growth. Like Ronald Reagan said … “Government is not the solution but the problem.” With the interference of government you can count on economic growth to be hampered. We will not see much growth in our free market until government gets out of the way.
Housing
We hear all kinds of statistics. I live in Texas which by the way is one of the best economies in the US currently. Don’t let anyone mislead you; the housing market is a major debacle. I will be the first to tell you that the real estate market has not hit bottom yet. I predict that interest rates will increase and values will continue to fall. I don’t see the real estate sector improving for the next 4 to 5 years unless we figure out a way to create jobs.
Credit Education
What is that old saying…? “I wish I knew back then what I know now….” Well when it comes to credit education there has been a lack thereof….I predict with all the financial turmoil amongst families, credit education will be top priority. We recommend staying informed about credit through our site. Credit education is the first step to financial freedom.
I am optimistic, but at the same time like I said earlier I am a realist…We as Americans cannot keep living on credit the way we have been. This also applies to our federal government. They need to stop the unnecessary spending as well. Until these changes take place, we have a long road ahead of us. Lastly credit education is crucial from here on out as well.
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