It seems that people around the world log on to the Internet, watch t.v., listen to the radio and podcasts, and engage in communication find out if the economy is getting better or not. Many grab on to any hope and sign that things are picking up. The mass media will announce even a tiny fraction of signs of economic improvement yet what you read online is not in line with what is shown on t.v.
Then in regional, local, and private circles there are similar talks that seem to contradict one another, just like you’d find on cable tv or on the Internet. Yes, it’s getting better. No, it’s not. Maybe it is and maybe it’s not. And so the guessing game continues.
The reality is the news that you hear of – the price of gas and oil has decreased, there’s a small percentage of decreased unemployment, and so on – is not always the full picture. Surprise, surprise. So gas has gone down by a few pennies and everyone is cheering. Reality is that gas prices still have a long way to go back down to where it was before the economy crisis hit. Most likely, it will never decrease to that price again. And so we are happy just to see it going down at all. But that is not a true sign of the economy getting better.
There are talks about why isn’t the economy better now that the cost of gas is down? Well, first of all, the decrease in fuel cost is because of the release of emergency gas reserves by President Obama. Tapping into what normally is saved for emergency situations such as hurricanes may give us a temporary sigh of relief but it’s not going to keep the price of gas down in the long term. It’s not going to create the jobs that are required to put people back to work and get income. It’s not true productivity.
Reporting unemployment rates that aren’t accurate and reporting any slight miniscule increase in real estate sales may be able to fool some people and create some hope but it’s not really providing a solution.
Going after the rich, taxing retirement money, decreasing welfare programs, printing more money, coming up with new bills to tax more, and so on may provide some cheerleading and encouragement. Yet none of these steps are providing what really needs to happen to improve the economy.
Therefore, is the economy getting better? NO. We’ve got a long way to go before the economy will get better. Productivity has to happen before the economy can get better.
Our world is facing an economic crisis that is as close, if not greater, than the Great Depression. Things will get better but for now, it is my belief that much has to happen before the economy does pick up.
Having stated this, if you are positioning yourself right, you can survive and maybe even come out ahead during such a time. Many have made it through and a few have come out even better. So there is hope. During economic and financial crises, fortunes have been made.
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