What is your long-term (5-20 years) prediction for the US economy?

[Infohawk]

Doesn't seem like things look good in the short term for the US economy:

http://news.yahoo.com/s/nm/20110615/bs_nm/us_economy_wrapup_poll

What do you think will happen in the longer term?

I am not confident to make a prediction per se but I don't think things look good. The way I see it, I don't see what could motivate employers to hire more people. Whether you want unskilled or skilled labor, you might as well hire third-worlders who are willing to work for less. It won't stop you from selling your goods or services in the US. If anything is keeping things going now, it's our credit. This doesn't seem sustainable. And for the hyper-partisans I don't think either party can change something with their current platforms. Reduce taxes? Great companies will use those savings to hire more overseas. Increase taxes? Companies will continue their move overseas anyway and it certainly won't increase hiring. Without middle and lower-class employment I don't see what will sustain growth in the economy.

 

[Jaskalas]

I fear it can only get worse, as we go the way of Greece. There will (hopefully) be ups and downs on the road to ruin, but our status as a first world nation has expired.

Violence will determine if we descend further into third world status.

 

[ThatsABigOne]

Oh it will get better. Just drop all tariffs and regulations regarding trade. When you try to protect your home industry by more regulation, same as what Roosevelt did at the beginning of his first term, the economic situation will not get any better.
Plus USA needs another big war to wake up its dormant industry.

 

[Infohawk]

Oh it will get better.

What will push job creation?

Plus USA needs another big war to wake up its dormant industry.

If there's another total big war it will mean nuclear annihilation. It's not going to happen. And smaller wars haven't helped the economy at all.

 

[Whoozyerdaddy]

If we suddenly come to our senses and start living within our means and execute a REAL plan based on REAL numbers... Maybe... Maybe we can turn this thing around in the next 150-200 years.

But that won't happen so we're doomed. Fixing problems isn't as sexy as promising cradle to grave care and continuing useless wars.

 

[Zebo]

5 y down

20 yrs kicking ass you only have one way to go from bankruptcy. Up.

 

[wuliheron]

As the economy continues to deteriorate the majority of Americans remain as baffled as ever about how to address the nation's problems. In their confusion they elect Lady Gaga president. In reaction weapons sales shoot through the roof across the country, militias begin forming in every town, and the budget of Homeland Security begins to surpass that of the military. The result is a completely revitalized American economy and a grateful Gaga goes on national television praising Americans for buying American made products and promotes her new line of made in America camouflage fashions.

 

[nonameo]

till other countries catch up in terms of standard of living. When equilibrium hits maybe then we'll see something.

 

[Bateluer]

If we suddenly come to our senses and start living within our means and execute a REAL plan based on REAL numbers...

This won't happen with out current politicians in office. Its what needs to happen.

 

[Whoozyerdaddy]

This won't happen with out current politicians in office. Its what needs to happen.

I'm not holding my breath on a new crop of pols suddenly deciding it's better to solve our existing problems than to create new ones. Creating new problems is what gets them reelected.

 

[dmcowen674]

Hard to put a finger on when the Revolution will occur but very likely before 20 years and the country will no longer be called United States.

 

[the DRIZZLE]

5 y down

20 yrs kicking ass you only have one way to go from bankruptcy. Up.

I agree. Once we actually straighten our shit out things will get better, but we need to hit bottom and come to our senses first.

 

[Macamus Prime]

Eventually, the government will openly announce it is here to serve those who can properly direct this country in the right direction. Meaning, the wealthy.

The rich will keep moving or shifting their wealth to ensure it is constantly growing and is safe from all those little people who keep trying to take it.

Job growth will no longer exist. There will be purpetual job shrinkage. I wouldn't be surprised if we hit 40% unemployment by the end of Sarah Palin's 3rd term. Also, IranAmerica should be stablizing by the time Trig Palin is elected as the 1st President diagnosed with Downs Syndrome.

There is no hope for growth in this country, unless you are wealthy. If you want to be one of the wealthy, you should become wealthy very very soon. The gap will be an uncrossable chasm in a few years.

Also, there will be plenty of war. I mean, LOTS of war - within and on US soil. The same people who screamed about the threat of socialism and to leave the wealthy alone, will eventually be fighting against the very government, that was taken over by the wealthy. The rich will hit a wall of sorts, in regards to their wealth growing, in the next 30 to 40 years. So, they will have to start taking your land and property to continue growing their wealth.

Look at how the rich have taken away your jobs already. They will make the arguement that since the common folk can no longer afford to pay taxes, they have to take your land and use it to churn some profits - by letting China, Brazil or Israel use it for something. You will get kicked out. If you refuse to leave, you will be forced to leave. Some will fight, and thats when they will send the US Army after you.

Eventually, the entire planet will be an unlivable mess. We may move underground, or to Mars.

I am certain someone will find a way to make money off of commercially harvesting humans to keep other humans (again,.. the rich) alive. You will be born, just to die, so the rich can continue living, by eating you.

By then, Trig Bush-Palin IV will be the 1st Openly Homosexual Neo-Christian Obamaite Albino Terrorist.

 

[Darwin333]

5 y down

20 yrs kicking ass you only have one way to go from bankruptcy. Up.

I beg to differ about the "only one way to go", you can always go sideways...

The people don't have the will, just look at the riots in Greece. We be fucked.

 

[BlahBlahYouToo]

like japans since the 90s.

or maybe not since their population is declining and we have an endless supply of mexicans.

 

[Darwin333]

till other countries catch up in terms of standard of living. When equilibrium hits maybe then we'll see something.

Not possible with current resources and technology.

 

[Jaskalas]

5 y down

20 yrs kicking ass you only have one way to go from bankruptcy. Up.

Perhaps you imagine bankruptcy for us as too clean a thing.

They'll purposefully destroy the dollar before they face reality and the violent wrath of protestors who will kill for their welfare. Violence on that scale will disrupt supply chains. Your store shelves will be empty after panic sets in.

I will leave the rest to your imagination. I'd love to ask, what part of that short series of events isn't already guaranteed to happen? That is... starting from the very good assumption that we will not cut spending in a reasonable way.

 

[Anarchist420]

Considering the fact that Romney is so popular and that Dr. Paul isn't, I picked "the US economy will worsen".

Also, the fact that phasing out SS and MC isn't on the table makes me believe that the American economy will collapse. The only options on the table are private enterprise or public enterprise, but never free enterprise.

So, SS taxes will either be raised and the Federal government keeps spending on it, or the government still gets to steal money from me and Wall Street gets the special legal privelege of embezzling everyone else's money.

It pisses me off to no end that Tom Woods excellent idea for phasing out medicare and SS is not on the table. In other words, I'm fucked to no end, because the only two options are corporatism or socialism, but never capitalism/individual liberty.

 

[amish]

my magic 8 ball says that things will get worse. our leaders only seem to focus on the short term instead of long term. global parity will continue to take place and cause our current standard of living to decline due to costs.

we continue to take advantage of lower cost markets; india, china, mexico, argentina, etc. they will continue to gather a larger piece of the pie and demand higher wages.

maybe after 50 years the emerging nations that we created with our desire for cheap crap will want the products that we are (hopefully) producing. at that point our industrial might will prop up our economy as it has in the past.

after 100 years i would be worried about a war over basic natural resources like water and fertile land. overpopulation will be a bitch to deal with. i wouldn't want to be in asia with the two largest populations on earth right next to each other needing water. the US could cash in on this by providing food from our agricultural powerhouses.

 

[Cutterhead]

Eventually, the government will openly announce it is here to serve those who can properly direct this country in the right direction. Meaning, the wealthy.

The rich will keep moving or shifting their wealth to ensure it is constantly growing and is safe from all those little people who keep trying to take it.

Job growth will no longer exist. There will be purpetual job shrinkage. I wouldn't be surprised if we hit 40% unemployment by the end of Sarah Palin's 3rd term. Also, IranAmerica should be stablizing by the time Trig Palin is elected as the 1st President diagnosed with Downs Syndrome.

There is no hope for growth in this country, unless you are wealthy. If you want to be one of the wealthy, you should become wealthy very very soon. The gap will be an uncrossable chasm in a few years.

Also, there will be plenty of war. I mean, LOTS of war - within and on US soil. The same people who screamed about the threat of socialism and to leave the wealthy alone, will eventually be fighting against the very government, that was taken over by the wealthy. The rich will hit a wall of sorts, in regards to their wealth growing, in the next 30 to 40 years. So, they will have to start taking your land and property to continue growing their wealth.

Look at how the rich have taken away your jobs already. They will make the arguement that since the common folk can no longer afford to pay taxes, they have to take your land and use it to churn some profits - by letting China, Brazil or Israel use it for something. You will get kicked out. If you refuse to leave, you will be forced to leave. Some will fight, and thats when they will send the US Army after you.

Eventually, the entire planet will be an unlivable mess. We may move underground, or to Mars.

I am certain someone will find a way to make money off of commercially harvesting humans to keep other humans (again,.. the rich) alive. You will be born, just to die, so the rich can continue living, by eating you.

By then, Trig Bush-Palin IV will be the 1st Openly Homosexual Neo-Christian Obamaite Albino Terrorist.

Between this and the garbageman plowing your wife post, you Sir are on a roll this morning.

 

[WhipperSnapper]

Just drop all tariffs and regulations regarding trade. When you try to protect your home industry by more regulation, same as what Roosevelt did at the beginning of his first term, the economic situation will not get any better.

Are you being facetious or serious?

If you are being serious, could you please explain how dramatically increasing the supply of labor relative to the amount of capital in the world will increase the wages (the price point)?

If the world has an almost infinite supply of impoverished but often able and willing labor, wouldn't that result in a decrease in wages and purchasing power and an averaging out of the American standard of living with that of the third world? Why should businesses pay American workers anything more than the standard of living people have in the third world or in China?

 

[matt0611]

Are you being facetious or serious?

If you are being serious, could you please explain how dramatically increasing the supply of labor relative to the amount of capital in the world will increase the wages (the price point)?

If the world has an almost infinite supply of impoverished but often able and willing labor, wouldn't that result in a decrease in wages and purchasing power and an averaging out of the American standard of living with that of the third world? Why should businesses pay American workers anything more than the standard of living people have in the third world or in China?

Not really, the more people that are working -> the greater our overall production level -> lower real prices -> an increase in real purchasing power.

 

[soulcougher73]

I think it will only get worse. We need to go into protectionist mode and stop off-shoring jobs to third world countries. All that does is put us in a race to the bottom. Need to abolish the stock market in my opinion. While there are a few good things about it in theory, it does a lot more harm than good. All it does is breed monetary greed among investors which trickles down to the companies which then hurts the average worker as jobs are cut or moved overseas so someones stock can go up a quarter point.

Without a very strong middle class this county is doomed.

 

[soulcougher73]

till other countries catch up in terms of standard of living. When equilibrium hits maybe then we'll see something.

You have that backwards. Its when we get down to their standard of third world status then we can compete. That is the reality where we are headed. But what you actually posted is what should be happening.

 

[bfdd]

To many are idiots chasing the Red and Blue teams around the circle for there to be any real change until revolution and dissolution of the USA. So my vote is for worse.