17 Questions You Can Ask Yourself On Whether The Economy Is Getting Better
Update September 4, 2012: The U.S. national debt has topped $16 trillion. Things cannot get better so long as the debt keeps increasing.
Back in October 2009, Podcast Episode 44, I posed a series of questions that you can ask yourself which should give an indication on how the economy is trending. In this podcast, I review these questions, along with my answers for what I see going on with the economy (the questions are below, check out the podcast for my current answers).
Here are the 15 original questions and 2 new ones:
- Is unemployment going down?
- Is the situation improving for the people you know?
- Is the situation improving for you?
- Are people getting raises?
- Is the foreclosure rate decreasing?
- Are companies hiring back needed personnel?
- Are companies hiring again?
- Are house and rental prices trending up?
- Are all the shelves fully stocked at the stores?
- Are there many new businesses starting up in your area?
- Is the US Dollar recovering and getting stronger?
- Is the price of gold going down?
- Are there less bank closures?
- Is the Federal Government finished with their “Stimulus” plans?
- Are unoccupied houses being sold?
- What’s the current poverty rate?
- How many people are on government aid?
The more “No” answers there are, the weaker the economy still is, and possibly getting worse. Only when you can start answering yes to these questions will things start to get better.
For the remainder of the podcast, I discuss an article about the 11 Stages of the Crash. This was a well laid out article on the sequence of events for an economic crash. Since I feel that it’s important to keep the right perspective on where we are at economically, I wanted to talk about these stages.
I thought this article was important enough to talk about it on the podcast. The main issue is that I think we’re being lulled into thinking that the economy is doing okay. In reality, we’re simply at a “stability point” between two stages; nothing has changed to make the economy better.
Normally, I would just make a reference to this on the website, but he makes a very clear case on why we are not out of danger, and in fact, are still in the beginning stages of the crash. We need to keep in mind that events like this often take years or decades to return to normal, or in many cases, the NEW normal, which often doesn’t resemble the way things used to be.
On the podcast, I go through the Events that Mr. Thomas outlines in his article, but I highly recommend that you also go to the site and read the whole article.