As the effects of the government stimulus plan are seen, there are more and more signs that the recession is ending. The media is quick to pick up on any changes and report that the economy is recovering. This article at Yahoo Finances is all about the improving housing market. Yet I think that all the positive news is only one side of the story.
The other side is that the fundamentals have not really changed. Unemployment is high, and is rising. There is no evidence that it will improve. All of the improvements in the economy are from government spending: Cash for Clunkers, First Time Home Buyers Plan, etc. These measures are good at getting people who aren’t financially responsible to spend money. It is a short term improvement but will have a longer term negative effect.
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Investing, Success, US Economy
america, cars, Cash for Clunkers, debt, deficit, economy, housing, spending
America is the best country in the world. For the last 200 years, everyone wanted to come to America. In America, we have freedom and opportunity available on an unlimited basis. Unfortunately, I fear the end is near.
What could bring down such a great country?
Fiscal Mismanagement
Over the last 50 years America has racked up an incredible amount of debt. And, it is predicted to double in the next 10 years. Since those are government statistics, they are probably not very accurate. Let’s say 5 – 10 years. Don’t believe me? Check this.
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Investing, Money, Success, US Economy
america, crisis, debt, debt clock, default, finances, financial turmoil, government, national debt
Did you have a great 4th of July weekend? Fireworks? BBQ? Nice cold beer? Living in LA, I saw a marked change in activity. Everyone seemed to take off on Friday morning, and even today (Monday) a lot of people are gone. Despite the constant bad economic news, there seems to be no shortage of money to get away for vacation.
And, I saw a similar phenomenon online. Many blogs stopped posting. One site that we use to track blogs, Tip’d, had virtually no usage whatsoever! This is a site that attracts 440,000 visitors a month. And on the Independence Day weekend almost nobody visited. Wow.
Where did they go?
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Dreams Come True, Internet, Money, Success
4th of July, america, financial freedom, independence, job, Money, Success, wage slavery
is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
