In the U.S., we have 9% unemployment and, let's face it, that number is high and, at best, it is a guess. The stock market is so unpredictable that even the so-called experts do not know what to think. People in this country are finally taking to the streets in protest. More and more Americans are becoming involved in movements for change. The world's economy all hinges on the U.S. economy, and for anyone to say the U.S. economy is in an upswing, they obviously has not spoken to the average Joe who can barley make ends meet.
Economies are long-term models. You can't officially state whether they are in an upswing or downswing, until either the swing is over or well into its swing. Short-term changes can shift rapid and drastically. While the economy may start an upswing, it could just as easily shift right back into a downswing, due to various factors, some not easily predicted.
This economy is nowhere near on an upswing. Have you seen the numbers? Unemployment rates keep rising, people can't afford their mortgages, and there are more layoffs than ever before. I feel that the economy will not bounce back anytime soon and, in fact, it will not get better until 2013 or 2014, at best.
The world's economy is not yet swinging up, because many countries are experiencing a lack of growth. Because the debt ceiling has not been raised, and the August 2 deadline is fast approaching, the United States is in a position to potentially contribute to the decline of the world economy. If the United States defaults on the loans, then the economy will continue its decline even faster.
Economies grow and falter in cycles. It is a good thing to be optimistic and say that the world's economy is finally in an upswing, but it is simply too early to tell. Once this improvement affects the common man, I will be able to say that the world's economy is in an upswing. But as long as the "upswing" remains mostly among the world's elite and so many people remain unemployed, I refuse to say that the economy is actually getting better.
Although it may seem that the world's economy is finally on an upswing, it is just temporary and things will go crazy again because of all the rising oil prices. So much of the economy is based on the oil prices since we need to use it for almost anything. With these prices rising astronomically recently, it is going to have a really bad effect again on the world's economy.
With so many people unemployed or underemployed, food prices rising, gas prices rising, people unable to pay their mortgage, banks playing games with our property and money, and large amounts of homeless, how can this economy be on the upswing? We have a huge debt to China, and the only reason that we are functioning is that we are printing more money that is worth nothing. I fully disagree with this.
Due to recent turmoil in the last few weeks, including the trouble in Japan, and the issues we are seeing with Libya, the economy should definitely be considered unstable. It may have been swinging upward recently, but until the world settles down, it should not be looked at as being in an upswing. Unemployment is a bit better, but is still not acceptable.
There are tons of people looking for work that are unable to find a job. Even worse, many of those who do get a job and are officially off the unemployment list, earn so little that they can not make ends meet. There are many jobs that fail to even pay rent, no matter how many hours a person might work. But the government considers them financially stable, just because they are not on unemployment any more.
Until everyone who wants a job has one, it's foolish and misleading to say that the economy is recovering. In fact, it's safe to say that the economy will never be what it was ever again and the gap between the haves and have-nots is ever widening. Bush blew it and no matter who we elect or how many bailouts are given, life in these United States and the world at large will never be the same again.