Get Ready: Recession Is Coming
December 9, 2016
Filed under Opinion
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Rumor has it that by the end 2017 or beginning 2018 the United States will hit a second recession. Factors that would have contributed to the United States collapsing economy are the economic slowdown of the United States and other countries. China has slowed in growth, the United Kingdom just left the European Union, Japan has still not recovered from their stock market crash in 1986, and all together they will more than likely negatively affect the financial markets and the global economy.
CNBC special guest Mohamed El Efrain and Chief Economic Adviser of Allriaz said the cause for this recession could be the country’s slow economic growth, reliance on central banks, and low interest rates. Interviews and cover stories on CNN say the recession will be rough, possibly worse than the 2008 recession that President Obama managed to handle.
However, with new presidential elections coming up, it’s no surprise that Americans are beginning to worry. What this recession means is that inflation will take place. Higher prices would not be so bad for Auto-loan holders, investors in commodities, fixed rate mortgage holders and small business holders.
For millenials still attending college and for those to attend college next fall, this would be the time to start raising money because tuition is about to go up.
Even though the U.S. will possibly be going into a recession by the time our next president is inaugurated, try not to worry. Employment rates have increased, showing jobs are available and it seems to still climb. Prices will be going up which might not be something bad because as many economic advisers have said, the U.S. has been used to low interest rates and low prices nonetheless.
It will take some getting used to but maybe hitting a recession may help the U.S. fix flaws in the economy and system. Overall, I think we’ll be okay as long as we’re cautious.