The Associated Press released information regarding the National Association for Business Economics survey. The results of the survey reveal economists believe the economy’s recovery will be slower than previously expected.
In other news, unicorns aren’t real, Darth Vader is Luke Skywalker’s father and Africa is a continent. Anyone surprised by this news has entered a deep state of denial or has suffered severe head trauma, possibly from trying to kill the last unicorn for food.
It’s nice the experts are now in agreement saying the economy is normal on paper doesn’t make it real. Now if they could just come up with some solutions that worked in practice as well as on paper, we might get somewhere.
Since I’m talking about economics I’ll throw some numbers at you, namely the numbers of economists, “economists have become more cautious in the third quarter, with 54 percent expecting growth of more than 2 percent in 2010, down from 67 percent in a similar survey last quarter. Still, those in the survey saw improvement in a number of areas.”
The improving numbers remarkably includes employment, which might be the best sign of recovery. Increased profit margins and goods production are also up, but transportation, communication and utilities are still stagnant.
So while one section of the economy is improving others are still stuck. This means America can’t get complacent. Just because things are starting to get better, it’s all the more reason to keep working at improvement. Practicing the money-saving methods we’ve been doing since the economy sunk is still important. Staying vigilant now will ensure a recovery, even if a slow one, and a slow recovery will probably be more stable anyway.
This is especially important because, according to the survey, prices are going to increase. If you’re thinking an increase in prices will stagnate recovery and render money saving methods useless, it might. Hence the need to keep it up, because if the economy stagnates we can at least fight to keep it from getting worse.
This would mean a better launching point for a renewed recovery. Hopefully it won’t come to that, but we need to be prepared if it does.
Americans can’t afford to be complacent with the economy; that’s what got us in this mess in the first place. Careful planning and a watchful eye will help ensure a stable recovery.
Another problem the survey anticipated was government regulations and taxes. These are nothing new, and at least we can see them coming, allowing them to be planned for. On the bright side, maybe the regulation will help prevent another economic downturn, without being so rigid as to prevent growth and change as its need arises.
Taxes are nothing new, even if we are sick of them, but in either case we must stay the course to economic recovery, no matter how long it takes.
I don’t want to think about the effects of another crisis so close to this budding recovery, and hopefully the economists don’t, either.