If we could predict the future accurately and consistently, many things would be easier and more successful to accomplish and achieve! It would make things, such as successful investing, purchasing investment real estate, buying a home (at the best opportunity), evaluating job/ career opportunities, etc., a far - easier task! However, in the real world, many uncertainties exist, and these, often, are significant and relevant, related to the overall performance and condition of the economy! With that in mind, this article will attempt to briefly consider, examine, and review 6 specific unknowns related, significantly too many components, etc., of our economy.
1. The impacts of huge deficits:
At present, the United States of America is experiencing, historically, large/ huge deficits! This began after the 2017 tax legislation, which created about a trillion-dollar deficit! It continued and became larger, because of the need, for larger amounts of public assistance, based on the humane needs caused by the ramifications and impacts from the horrific pandemic! The hypocrisy of many politicians, opposing and supporting deficit spending selectively when it seems to meet their personal/ political agenda, creates a serious - inconsistency in how we proceed, forward, and handle federal funds, etc.!
2. The inflation/ recession, see-saw:
Often, Federal Reserve Bank, monetary policy, and, especially, interest rates, etc., are, largely, predominantly, based on the perceptions/ fears, etc., related to potential dangers, of, either, inflation or recession. Traditionally, they use policies, making the ease and costs of borrowing based, almost exclusively, on reaction rather than proactive! When inflation is feared, interest rates rise, and when they hope to stimulate the economy, they relax these policies and lower rates! We currently are experiencing, historically - low-interest rates! Is this a form of manipulation or well-considered policies?
3. Interest rates uncertainties:
How long will rates remain low? Is the policy based on a sound - strategy or politics and/ or manipulations? These numbers often determine many components of our economy, especially housing (mortgage rates, etc.), the impacts on the stock markets, etc. How might these uncertain times cause potential ramifications?
4. Future housing/ real estate market:
For a while, the real estate market has been a seller's market because the number of qualified buyers has exceeded houses - for - sale! How long will this continue? The combination of pent-up, demand, stemming from the pandemic, etc., and record-low mortgage rates have created a huge uptick/ increase in home prices! Will that continue, slow, or somewhat - reverse?
5. Jobs/ industries of the future:
Will we be prepared, for the future, by encouraging job/ career training, which is driven by future needs? Wouldn't it make sense to focus on training former coal workers and others in sustainable industries, such as renewable energy, cyber-security, etc.?
6. Importance of Climate, Environment, and Public Health:
If our highest priorities are not, in areas such as climate, environment, and public health-related industries, doesn't it bode poorly for the sustainability of our nation and the planer? Don't we owe, at - least, this to future generations? When partisan politics, and populism, seem to motivate many public leaders, and they procrastinate when they should be proactive, isn't that a clear and present danger?
Fortunately, or, unfortunately, little consequence/ significance gets done when politics becomes a greater influencer than smart strategies and actions! Will you demand better, sooner rather than later?
Richard has owned businesses, been a COO, CEO, Director of Development, consultant, professionally run events, consulted to thousands of leaders, and conducted personal development seminars for 4 decades. Rich has written three books and thousands of articles. His company, PLAN2LEAD, LLC, has an informative website http://plan2lead.net, and Plan2lead can also be followed on Facebook http://facebook.com/Plan2lead.
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