It depends on what part of the economic ladder you fit into.
If you are a big C.E.O., things were never better.
If you are like most people, you are suffering in some form or another.
With globalization, many corporations need to keep focused and will lay off working people whenever they see competiton eating away at their business.
Many working people today have it difficult trying to balance out their lives while keeping a good credit rating.
The quality of jobs today are mostly poor. Not many people enjoy working. Some are fortunate enough to make a living without doing much physical work. If you can invest and live off of profits you make, then you are better off than most people who need to produce more and more to keep a job.
The outlook for housing expenses is still a difficult challenge for most. Those who made money flipping properties are now being squeezed by falling property values and high mortgages.
Yet, the entire economy looks like it is doing fine with many corporations making big profits.
The long range problem will be government deficit spending which nobody can control at this point, and it has to have a day of reckoning in the future.
With many corporations shunning their income taxes by using offshore schemes to avoid paying, the burden falls on individuals who are very stressed out and just making it.
Unless government can reap more taxes from corporations, I fear that many more individuals will have to go bankrupt.
With ease of filing bankruptcy and no damaging penalty, the system is a farce and the economy itself seems fake.
Nothing worhtwhile is being produced.
The current economic system is basically the same that Reagan adopted from Milton Friedman in 1980. The object is to keep the supply high and ignore the service. This in turn produced for us a "throw-away" economy where just about everything can be discarded because something cheaper and better can replace it.
The problem is, it has cheapened life itself.
I would prefer to have an economy where those who earn too much would be forced to earn less, while those who are trying to work for a living be given more respect and dignity with better pay packages.
More or less normal, as things happen all the time ie good,bad and neutral.With spread of globalization,all nations are in a kind of new territory, in terms of economic development.Top economies like American seem to either peaked or is about to be and developing economies are forging ahead at 10-15 % per annum.The coming two decades shall realign economic order but in the mean while,there is nothing very serious to think and worry about.America has the resilience to come out of sub prime and credit issue and so have other nations, out of their local problems and thank God for IMF and world bank.
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Comments: 5 comments
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Leo Lion
July 18th, 2009 at 10:04 am
It depends on what part of the economic ladder you fit into.
If you are a big C.E.O., things were never better.
If you are like most people, you are suffering in some form or another.
With globalization, many corporations need to keep focused and will lay off working people whenever they see competiton eating away at their business.
Many working people today have it difficult trying to balance out their lives while keeping a good credit rating.
The quality of jobs today are mostly poor. Not many people enjoy working. Some are fortunate enough to make a living without doing much physical work. If you can invest and live off of profits you make, then you are better off than most people who need to produce more and more to keep a job.
The outlook for housing expenses is still a difficult challenge for most. Those who made money flipping properties are now being squeezed by falling property values and high mortgages.
Yet, the entire economy looks like it is doing fine with many corporations making big profits.
The long range problem will be government deficit spending which nobody can control at this point, and it has to have a day of reckoning in the future.
With many corporations shunning their income taxes by using offshore schemes to avoid paying, the burden falls on individuals who are very stressed out and just making it.
Unless government can reap more taxes from corporations, I fear that many more individuals will have to go bankrupt.
With ease of filing bankruptcy and no damaging penalty, the system is a farce and the economy itself seems fake.
Nothing worhtwhile is being produced.
The current economic system is basically the same that Reagan adopted from Milton Friedman in 1980. The object is to keep the supply high and ignore the service. This in turn produced for us a "throw-away" economy where just about everything can be discarded because something cheaper and better can replace it.
The problem is, it has cheapened life itself.
I would prefer to have an economy where those who earn too much would be forced to earn less, while those who are trying to work for a living be given more respect and dignity with better pay packages.
♥*´`*ღ..Pink Fluff♥*´`*•.¸¸
July 18th, 2009 at 10:04 am
The rich are getting richer and the poor are staying poor.
Jason252
July 18th, 2009 at 10:04 am
Bad, housing rise, gas price high,.
boltthrower63
July 18th, 2009 at 10:04 am
headed for recession,credit crunch,housing market,not enough disposable income to sustain the economy!!
brkshandilya
July 18th, 2009 at 10:04 am
More or less normal, as things happen all the time ie good,bad and neutral.With spread of globalization,all nations are in a kind of new territory, in terms of economic development.Top economies like American seem to either peaked or is about to be and developing economies are forging ahead at 10-15 % per annum.The coming two decades shall realign economic order but in the mean while,there is nothing very serious to think and worry about.America has the resilience to come out of sub prime and credit issue and so have other nations, out of their local problems and thank God for IMF and world bank.
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