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    Posted February 27, 2009 by
    macombexec |
    Location
    Macomb, Michigan
    Assignment
    Assignment
    This iReport is part of an assignment:
    State of the Nation: Your reaction

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    What Will Our Economy Look Like AFTER The Recession Ends?

    By macombexec  |  Posted February 27, 2009  |  Macomb, Michigan
     
    After tihe recession ends will the spending hangover turns us from a nation of Hope to one of Nope as in: Nope for spending other than necessary items Nope for politicians who voted for one big Katrina Debit Card better known as the Stimulus Package. Nope for spending 'investments' that didn't jolt the economy out of a recession. Nope for the promise of a job not 'saved' or 'created' by the stimulus package. Nope for allowing 'investment' spending by the states before structural reform in gov't. Even if under the most rosiest of senarios the stimulus package jolts our economy out of a recession then WHAT WILL THE NEW ECONOMY LOOK LIKE? What will the economic landscape look in in 2010, 2011? The political policy wonks, media pundits and blogworlds will always offer their 2cents worth of opinion. I would like to offer my iReporter highlights of conjecture. * Domestic auto will be smaller and continue to lose market share. * Continued depoplulation of states where the state's economy is still contracting after the recession ends -More frugal spending patterns by consumers who tried to build back the retirement wealth that was obliterated in the recession -Less capital investment as the wealthy are taxed to pay for social programs such as health care reform. * Devaluation of the dollar as the impact of the trillion dollar spending spree (Democratic Budgets, Stimulus Package) will have an impact. * Improved safety net for seniors, unemployed, uninsured but the downside is that it comes with a very high price tag. * Contraction in the domestic auto industry will result in labor unions looking to build up their membership thru passasge of the Card-Check bill. This legislation will pit the Forced Unionism States against the Right To Work States. Story The nation's unemployment rate is now at 7.6 percent, the highest in more than 16 years. The Federal Reserve expects the jobless rate to rise to close to 9 percent this year, and probably remain above normal levels of around 5 percent into 2011. *Fed Chairman Ben Bernanke earlier this week told Congress that the economy is suffering a "severe contraction" and is likely to keep shrinking in the fix six months of this year. But he planted a seed of hope that the recession might end his year if the government managed to prop up the shaky banking system. * *Even in the best-case scenario that the recession ends this year and an economic recovery happens next year, unemployment is likely to keep rising. * That's partly because many analysts don't think the early stages of any recovery will be vigorous, and because companies won't be inclined to ramp up hiring until they feel confident that any economic rebound will have staying power. ' (end quote) Link: http://www.detnews.com/apps/pbcs.dll/article?AID=/20090227/BIZ/902270430/1361

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