As people planning the next stages in our firms' business development, we should be trying to anticipate what is going to happen next in the economy.
One columnist that I do pay attention to is Ambrose Evans-Pritchard of the Telegraph. As he writes
"We live in an amazing world. Everybody has big budget deficits and big easy money but somehow the world as a whole cannot fully employ itself,” said former Fed chair Paul Volcker in Chris Whalen’s new book Inflated: How Money and Debt Built the American Dream.
“It is a serious question. We are no longer talking about a single country having a big depression but the entire world.”
Alternatively read the column over at Rich Dad/Poor Dad series, Robert Kiyosaki "
Though the recession may be technically over, in that the economy numerically isn't contracting, it's also not really growing. As The Wall Street Journal reports, "Real gross domestic product has made up only 2.9 percentage points of the 4.1% lost during the recession, while household net worth has recovered only 4 percentage points of the 21% lost…that means the government may need to continue providing extraordinary support for the labor market." Because of this, many economists are predicting that we'll have a double-dip recession. If that happens, the official recovery will really just be a merciful breather rather than a true recovery. And unlike previous recessions, long-term damage to the economy will result.
Sorry to dampen your mood.
Justin Patten, Mediator