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State of the economy now and in the future

Future of U.S. economy

  • Things are and will get gradually better

    Votes: 9 45.0%

  • Things will just stagnate the way they are for the most part for some time to come

    Votes: 3 15.0%

  • Things will get worse before they get better

    Votes: 4 20.0%

  • Things won't get better we are in for an economic collapse

    Votes: 4 20.0%
  • Total voters
    20
EnigmaO01

EnigmaO01

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What do you think is going to happen with the U.S. economy now and in the future?

I'm not feeling overly confident with the staggering deficit and overspending by our politicians, two wars, and much of our manufacturing base shipped over seas. What happens if we don't get better before unemployment for millions of Americans runs out? Will it have a serious cascading effect if that causes foreclosures and lack of income?
 
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It might get better, but an economy simply cannot grow to meet the needs of an increasing population with higher and higher demands when there is no savings.
 
phattonez said:
It might get better, but an economy simply cannot grow to meet the needs of an increasing population with higher and higher demands when there is no savings.
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That's just one of several serious problems that will bite us in the butt at some point.
 
We will become more like China and they will become more like us and we will meet in the middle. Their standard of living will rise and our will drop.
 
USA-1 said:
We will become more like China and they will become more like us and we will meet in the middle. Their standard of living will rise and our will drop.
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Except the rich will remain untouched and may even become richer.
 
EnigmaO01 said:
Except the rich will remain untouched and may even become richer.
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I agree. There will be a bigger gap between classes and there will be a larger lower class..
 
USA-1 said:
We will become more like China and they will become more like us and we will meet in the middle. Their standard of living will rise and our will drop.
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And we will all speak changlish.
 
USA-1 said:
I agree. There will be a bigger gap between classes and there will be a larger lower class..
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Whats sad is Robber Baron JP Morgan would look like a Liberal compared to todays CEO's. Heavens, people here even defend a CEO getting multi millions a year.
 
It'll get better. We'll just have to adapt to the current state of the economy. Most of this adaptation will be because of and through the internet and globalization. The rich may get richer, there will be a MUCH smaller middle class, and the lower class will have to rely more on "pooled" services. E-democracy and E-anarchy will become more prevalent and more acceptable.
 
phattonez said:
It might get better, but an economy simply cannot grow to meet the needs of an increasing population with higher and higher demands when there is no savings.
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Agreed! Refer to neo-classical growth models or Romers (newish) growth theory. The results just might surprise you:mrgreen:
 
USA-1 said:
I agree. There will be a bigger gap between classes and there will be a larger lower class..
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Your reference to a zero sum game is quite telling:lol: What is your view on international trade?
 
Goldenboy219 said:
Your reference to a zero sum game is quite telling:lol: What is your view on international trade?
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The trade deficit will taper off when we can no longer borrow money to buy Chinese goods and they have all our money. Chinese wages will rise and ours will drop to the point where China outsources manufacturing to the US.
 
pugetsoundwa said:
Whats sad is Robber Baron JP Morgan would look like a Liberal compared to todays CEO's. Heavens, people here even defend a CEO getting multi millions a year.
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Some of us like living in a free country, you do not.

What else can be said, other than "jealous much"?
 
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Scarecrow Akhbar said:
Some of us like living in a free country, you do not.

What else can be said, other than "jealous much"?
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there is no such thing as a free nation, free market or such. All have a price. Its too bad you hate your fellow man and fellow Americans so much.
 
USA-1 said:
The trade deficit will taper off when we can no longer borrow money to buy Chinese goods and they have all our money. Chinese wages will rise and ours will drop to the point where China outsources manufacturing to the US.
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It is sad how incorrect you are:2wave:
 
Goldenboy219 said:
It is sad how incorrect you are:2wave:
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No it is sad that I am correct.

We have lost the very thing that built this country. Manufacturing. If you think a service economy can survive you are mistaken. The best times are behind us.
 
While things may improve slightly, they will never go back to the way they were. We based our entire economy on people living beyond their means, buying things they could not afford and not worrying about tomorrow. Now, the chickens have come home to roost and people's lives are falling apart because it's time to pay the piper.

Unfortunately, the government doesn't want to actually fix the problem because it would mean they would get thrown out of power. Bush didn't want to fix it, Obama doesn't want to fix it. They just want to put things back the way they were so people are spending money they don't have on things they can't afford and the economy gets back on track until the next major crash.

So long as we insist on this fundamentally unstable economic system, we'll never really improve, we'll just go from one crash to the next.
 
USA-1 said:
No it is sad that I am correct.

We have lost the very thing that built this country. Manufacturing. If you think a service economy can survive you are mistaken. The best times are behind us.
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Thank you for your opinion.
 
Goldenboy219 said:
Thank you for your opinion.
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And what do you believe will lead us into a new era of prosperity?
More debt? All the bubbles have burst and there ain't no more around the corner.
I am open to anyone that can show something that will pull us out of this. Give me something to have hope.
 
USA-1 said:
And what do you believe will lead us into a new era of prosperity?
More debt? All the bubbles have burst and there ain't no more around the corner.
I am open to anyone that can show something that will pull us out of this. Give me something to have hope.
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The innovative spirit of the American entrepreneur! The Chinese economy will never truly become special until it develops a serious segment of services (more than 50% of economic activity).
 
Goldenboy219 said:
The innovative spirit of the American entrepreneur! The Chinese economy will never truly become special until it develops a serious segment of services (more than 50% of economic activity).
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Innovation is exported just like jobs. Manufacturing is better for an economy than the service sector. It can pull a country out of a depression just as it did during WWII. The service sector can be a drain on an economy. There has to be a fine balance between service and manufacturing in order for an economy to thrive.
 
USA-1 said:
Innovation is exported just like jobs. Manufacturing is better for an economy than the service sector. It can pull a country out of a depression just as it did during WWII. The service sector can be a drain on an economy. There has to be a fine balance between service and manufacturing in order for an economy to thrive.
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What does service or manufacturing matter as long as we're producing what people want? If people want more service than goods, what's so bad about that?
 
phattonez said:
What does service or manufacturing matter as long as we're producing what people want? If people want more service than goods, what's so bad about that?
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Becaue service jobs are low paying? If you've ever worked in retail you'll know what I mean.
 
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