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The last two weeks we discussed the implications of the financial crisis on our personal futures. Here is an interesting article that ties into this concept. Four economists provided their opinions of where the markets are headed in the future.
http://www.newsweek.com/id/236200
Who do you think is right (if anyone)?
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I'm not quite sure any of their arguments convinced me 100%, but I think that we are going to grow in a U shape. I think that we definitely will recover, but it will be a slower process than we are used to.
ReplyDeleteThree out of the four argued for a more conservative growth rate which I completely agree with. We will be seeing quite a bit of private saving for the next several years until we're out of debt. Just because things are getting better doesn't mean it's time to celebrate; we're still in a hole of debt which will take a long time to get out of. I see this recession as being one of slow rebuilding even with the aggressive policies. The debt is just too large to conquer quickly.
ReplyDeleteI hope that we are able to recover quickly and exceed expectations as the optimists would forecast. Although this seems to be the unlikely bet, I don't think it's impossible with all of the emerging technologies regarding energy, technology, ect. I hope and think the optimists could be right, but would bet and agree that the pessimists will be right.
ReplyDeleteAlthough the CEO of Pimco did not have a lot of faith in the growth rate of our economy, I think he makes a valid point when talking about future risk taking. Society has been in a state of shock due to this financial crisis which has created a tentative mindset for many business owners. This lack of confidence has altered spending habits and led to many taking less risks. Businesses taking risks is the key for economic growth and creation of new technology and infrastructure. I hope consumers and business owners regain faith in our economy in order to speed up the recovery process.
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