When do you believe the economy will turn around?
THIS WEEK’S WEB POLL:
When do you believe the economy will turn around?
late spring
2
a year from now
2
two-plus years
6
â– That’s a hard one. I’m going to guess two years or more. n Define ‘turn around!’ It’s already great for many CEOs and bank presidents. Employment must increase for a real, just, and widespread turn around to happen. Some think tax cuts will create jobs; some think WPA style government stimulus will truly stimulate the economy by creating jobs; some think reducing the deficit via tax increases is necessary for investor confidence and jobs. It is complicated. For us in Gilroy, we need to shop local and we all need to give up a little to keep our city budget healthy. I hope and pray that it will, in fact, turn around and soon.
â– It’s already turned around with GDP going up the past seven quarters; stock market up by 3,000 points; corporations having greatest profit reserves since they started recording them (60 years); and the government-saved auto industry now turning a profit. Corporations are running leaner now than in the past, and until they begin to reinvest in the country the new unemployment level may be the future standard.
â– Optimistically, I would like to say January. But if I am being honest, next year at this time. Unless we go to war with North Korea – then I’d say we are starting a whole new downturn.
â– Technically, we have already turned the corner. The question is, when will the economy return to normal, say pre-2005 conditions? My answer is two years+ given the lingering unemployment, U.S. deficit, and the eroding Asian market.
â– Having just heard the latest take on unemployment, I would expect more in the two-year category.
â– Well, we wish it would be sooner rather than later, but I think it will take a couple more years.
â– Probably late spring, but I think that because of this downturn, people are rethinking what they spend money on, and are re-assessing what is important. Probably a good idea all the way around. n Two years or more.
â– Next year at this time, hopefully!
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