The End Of The Line

timwilliams By timwilliams, 14th Aug 2013 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>Writing>Columns & Opinions

If the status quo in America remains the end of the line is going to be fast approaching.

The End Of The Line

What seems to be a systematic orchestrated set of circumstances have made countless millions think they really are at the end of the line in terms of economic gain. The great recession as some would like to call it has hit every aspect of our society and has spread to every corner of the world. There have been some lingering flickers of hope amid the ashes of our once prosperous economy. But, aside from all the rhetoric spouting from our elected officials in every city and town there remains those who have been cast aside from so many lost opportunities. Those still reeling from last years drought and hurricane season to this springs tornadoes has pushed this nation ever closer to that abyss of no return.

What many don't even realize is that for the past two decades every industrialized nation has been inching closer to a real globalization of economies. In doing so here in the United States we have inadvertently surrendered our dominance in the worlds economic markets. The sad reality hitting home to millions of Americans is the fact that our recent college graduates even before they can reach the starting gate in their careers are already deeper in debt than any generation before. Compounding the problem is another reality and that is that so few will actually land a job in their chosen field of study. What we have now is a nation of underemployed college graduates many of which won't become employed earning enough to ever get out of debt let alone keep up with the ever rising cost of living today.

With a political system that has become so corrupt and ineffectual only deepens the struggle of day to day living for the 99%. It is all to often that our elected officials miss the boat of ushering in reforms and adapting policies that would otherwise encourage and help millions who are struggling to find any real financial and economic security. The failed stimulus, the auto and bank bailouts in 2008 did not produce the effects that were needed to pull this nation out of the mess that by the way was created by our own banking institutions. What resulted was a government that only pushed this nation deeper in debt. Again, our most benevolent economic wizards of state but the carte before the horse when they chose to shore up these same financial institutions and the auto industry when they failed to realize that the majority of Americans had so little if any disposable income to spend to ease the fiscal crisis these two big to fail banks put this country in.

The global economy as a whole now has yet to recover from the financial crisis of 2008-2009. Global growth has dropped by more than 3 percent in 2012. This indicates that any rebound from the so called great recession won't happen anytime soon. The long term prognosis remains bleak for any recovery that will amount to anything. Meanwhile many countries have yet to see any real improvement that would signal a significant move toward economic gain for the majority of their populations. Uncertainty across the regions, from the post-election ‘fiscal debate’ question in the U.S. to the Chinese leadership transition and reforms in the European Union will continue to have global impacts resulting in sluggish trade and very weak foreign direct investment.

Across the other industrialized nations the economic outlook predicts a 1.2 percent growth in 2013, compared to a 1.1 percent in 2012. This one tenth of a percent increase was largely due to Europe's returning a.3% growth during 2012. In the United States, well let's just say, what growth. All indications point to a continued downward trend, that is if policies aren't implemented to revert this trend. In the meantime, the outlook we can expect in the United States and other industrialized nations is more of the same failed policies that only push each nation deeper in debt. This without producing the results needed for the majority of populations to be able achieve the financial security needed to reduce or eliminate a nations debt. The only result coming is a wider and deeper income disparity gap that will only contribute to more economic uncertainty.

A more significant slowdown is expected for other developing countries over the next year and beyond. Overall, growth in developing and emerging economies is projected to drop significantly. This only indicates these countries will become immersed in an economic cycle of limited opportunities. Now, with China their growth is failing to meet current levels and in India another economic engine has seen stagnant growth prevail over the last two years are all indicators of a global economy failing to meet the needs in which to foster economic growth for the majority of their populations.

The long-term global slowdown is projected to last well into 2025. There are ways to avoid this long term economic forecast and it starts right here in the United States. But as long as we have a political process that is so corrupted and ineffectual it may just be impossible for this nation to climb out of the fiscal abyss we have put ourselves into. They say education is empowerment. We have to educate ourselves that the fulfillment of the "Williams Theory Of Economic Evolution" starts with the implementation of total National Economic Reform. If we don't the end of the line is fast approaching.


Financial Crisis, The Economy

Meet the author

author avatar timwilliams
I am a feature writer for The Tampa Bay Examiner and The American chronicle. Earned Ph.D in Economics

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14th Aug 2013 (#)

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