scottFL007
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Gee, life is great when you're a kid, huh?
Actually, those of us who were born in the '60's or before know that the '70's was among the WORST economies this nation has seen since the Great Depression. Overspending by government, over-regulation, and burgeoning inflation, along with large numbers of farm bankruptcies, led to an economy that many worried would never recover. Of course, when you're 6, the economy always feels good, cuz Mom and Dad are taking care of everything for you.
Only when Reagan and Greenspan came along and opened up our economy did we begin to see recovery. Robert Rubin, Clinton's Treasury Secretary, continued the stable policies. This led to the growth of the 80's and 90's. Today's economy is not particularly weaker that that period. In fact, unemployment is relatively low, compared to past periods. That said, I think our policies, which closely resemble the foolishness of the '70's will lead to a weaker economy, but let's not confuse the issue. We're spending like crazy, and introducing the same inflationary pressures we did in the 70's. It will boost the economy in the short term, but ultimately, we'll have to 'pay the piper' just as we did in the '70's. |
Jacques
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There are some fast growing industries, and the number of jobs created are pretty high, BUT people must realize that this country is growing fast too.
I say it could get better, but any time soon? No. Certain areas may be better then others, however. |
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