The American Economy
Since the recession in 2007 and 2008, many Americans have struggled to build wealth or increase their incomes. The cost of living is higher in almost every area, as housing and health insurance costs are both increasing. However, many people simply do not understand why the economy cannot get back to the way it was before. During the recession, the Federal Reserve decided to keep interest rates at extremely low levels in order to increase economic growth. There are several factors against the middle class today.
- Falling Personal Income Levels
- Increasing Cost of Housing
- Increase Healthcare Costs
- Low Interest Rates Hurt Investors
Although it may have helped some initially, the Federal Reserve is now pumping trillions of dollars into the economy and economic growth is falling. In addition, savers cannot get good rates of interest at the bank on their despots. We now have a situation where the American middle class is struggling to prosper based on the old rules of the American economy. These rules were go to college, get good grades, and then get a job with a company that will take care of you.
Job Market for Graduates
The job market for college graduates is still not back to where it was before the recession. Many college graduates are working in jobs that do not require a college degree. To make matters worse, many people graduate will record levels of student loan debt. Over the long term, this debt will hamper economic growth. Going to college and graduating with any degree is no longer a viable plan. College students need to plan ahead for the future, and many people worry that this will be difficult for some to adjust. Building wealth is still possible in this country, and you do not have to be a great singer or football player to do so. As Great Britain votes on leaving the European Union, many investors are braced for a downturn in the market.
Many Americans feel like all politicians are corrupt and few understand their needs. There is a major election looming at the end of the year, but many people think we will get more of the same out of Washington. Anyone who wants to change their life is not going to do so by voting for Donald Trump or #Hillary Clinton. The old rules of the American economy no longer apply, and it is time that we live how to prosper in the new economy. #Donald Trump #Election 2016