Originally posted by: AgentEL
Considering how the economy has been at the same low levels for the last few years, at what point should we just concede that this economy is "normal."
Whatever "boom" the economy experienced in terms of jobs and spending growth was just a fluke. Sure, it was good while it lasted, but we shouldn't expect the economy to reach that point again.
Maybe I'm just overly pessimistic.
I'm pretty pessimistic too, but the U.S. economy is generally considered the strongest or 2nd strongest in the world (China is still growing robustly for such a large economy).
Economies always go through boom & bust cycles, this time isn't really all that different except that the .com boom and crash is probably a once in a generation (or even lifetime) phenomenon.
If you're suggesting that a weak economy that sheds jobs is normal, then few people would concur with you. Japan is faulted for having such a situation for over the past decade, but it's largely blamed on their capital markets and complex web of corporate ownerships. In other words, a structural problem. Since the U.S. does not share the same major problems, few expect a similar outcome.
However, with arguably ineffective economic policy from the administration in charge, no one can say for sure that things will get better by the time 2005 rolls around. So if you're asking will 2% annualized GDP growth become the norm, few really think so and you'd never hear such gloom from Wall Street analysts, but we simply don't know yet.
Facebook
Twitter