Slow Economy Speeds up Worry
A Slow Recovery
Reports dated 12/22/2009 state that the US economy is recovering at a rate of 2.2% over the last quarter, but this was below the earlier predicted figure of 3%. There could be a number of reasons for this particular slowdown, but no explanation has been offered as to what this will mean for the common US citizen. Will they get jobs? Will they be able to spend less time online or in lines waiting for a personal loan to be approved? That is a question that will plague the minds of most Americans.
Optimism From One Day?
The downfall of the economy happened over a period of time, rather than in a single day. What started out as a trickle ended up as a tsunami and affected the entire country, as well as most of the world. But it wasn’t just the people and companies affected. States managing unemployment benefits and other assistance programs are also on the verge of borrowing huge sums of money from the government. How then can the economy be on the verge of a recovery? Available figures state that the recovery is slower than expected. The above statement was based on a day of high fives on Wall Street when investors dumped the US Treasury and pushed the stock markets up. Of course, the media had a field day with this by making a preposterous claim that the economy was on the verge of a recovery. One wishes that they were correct, but figures certainly prove them wrong, at least for now.
No Relief in Sight
Compared to the people who frequent the stock markets and share the sentiment of the economic “gurus”, there are millions without jobs, in debt and living in the fear of losing their homes. These are people who do not even understand what the reports on the economy mean, let alone even care about them. Their only concern is to save their homes, get a job and put food on the table, and they will do so by using the last cent that they have saved. Even taking a personal loan to make ends meet is also an ever-present option in their minds. They understand the basics of life, but not the intricacies of the stock markets.
The Problems Just Don’t End
Current figures available from a number of sources state that unemployment is set to increase over the next year, yet the cost of living is not going down at all. Assistance for the unemployed may be cut while taxes increase, and all people can do is look towards the skies and hope for divine intervention. Even that looks difficult at the moment with all the snowstorms blasting the country. Personal loans taken out have to be repaid while fresh applications need to be made to stay afloat in the coming months. All of this will create a sense of pessimism among the public and leave them wondering if it will ever end.