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Economic expectations: what’s left for 2009?  |
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2009 has been a difficult year for everyone. So much so that there isn’t the hesitation to use the word recession, as we experienced in 2008. Yes 2009 has been the second year of a great recession for the United States as it has for much of the world. But new reports say that we’re starting to see some light at the end of the tunnel. So what does the rest of 2009 have in store? What matters when it comes to your money? Consider the following:
Jobs: Even if we are starting to pull out of the recession, jobs and job creation will be the last part of the equation. It may not be until sometime in 2010 that we start to see new jobs created and unemployment numbers start to fall. What does that mean if you’re looking for a job? Don’t give up and don’t stop making yourself attractive to potential employers. Just because they can’t hire you today doesn’t mean that they won’t consider you tomorrow. Stay current and keep up on the job search. It won’t be long before you are needed.
The Stock Market: we’ve all been biting our fingernails and watching as the markets go lower and lower. Where is the bottom? No one can say for sure, but most experts say we’ve already hit it. That means we are poised for what could be a multiyear rebound. If you invest in stocks today, it is very possible that you could see around a seven percent return every year for the next several years. Investments like GM and Ford automotive stocks have nowhere to go but up, so it may be the best time ever to invest in America.
The Obama Administration and regulations: although any free market capitalists can recite the mantra “get government out of the way” it has become clear that the US financial markets do require some degree of oversight and regulation. Despite the claims of alarmists who are crying socialism, it is very likely we will see a host of new regulatory measures aimed at protecting investors and consumers. And that is good for business.
On a personal level, everyone should stay optimistic and positive. Give help where you can, and accept help when you need it. Our country has faced and defeated bigger challenges in the past and if we stick together we can get past this recession as well. Accepting that we’re all in this together really is the first step to solving the economic crisis.
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