Do you think it is doing good? Do you think it will continue to grow? What about the strength of the dollar and rising interest rates?
2006-06-29 17:26:25 · 8 answers · asked by Ryan rox 3 in Social Science ➔ Economics
USA. Sorry.
2006-06-29 17:45:51 · update #1
Our economy is dysfunctional.
The world's largest quasi-capitalist economy no longer knows how to create capital. So, we've become the world's largest debtor nation.
We've become as house of cards with our financial system propped-up by dollar denominated global oil sales.
2006-06-30 02:05:09 · answer #1 · answered by ideogenetic 7 · 0⤊ 0⤋
Well I don't know what country you are in so I cant answer your Question properly.... but heres whats happening in Australia.
We have reached a peak in the economic cycle and are starting to decline in economic growth. This is not good but it is a normal part of the economic cycle... hopefully we wont decline enough to send us into a recession.
Growth? Australia's economy will defiantly continue to grown in the long term, we currently have an economic growth rate of about 2-3%. What Australia ideally wants to achieve is growth that is sustainable and we are doing that to a degree.
The strength of Aussie dollar is currently good in comparison with the US dollar i think we are trading at about A$76.44 per US$1.00
Interest rates have risen, lots of people say there was no need for this.... but unfortunately there was due to global inflation (prices in other countries). The reserve Bank of Australia had no choice but to raise interest rates to try and slow down inflation which is at 2-3% (when interest rates rise people spend less, this stops the prices going up). It is predicted there will ba another interest rate rise by the end of the year.
Considering all this there should be an economic boom in Australia by the end of next year. I hope this cleared up some of your questions :)
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2006-06-29 17:44:36 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Our economy is sick and getting sicker. You can tell by how the stores are slashing prices on things. For instance, you can get a $2 blouse at J C Penneys while the Dollar Store is charging $5 for one of lesser quality. Who'd a thought?
The only way the economy will grow is to add jobs that pay good salaries--not minimum wage.
2006-06-29 20:23:26 · answer #3 · answered by nobluffzone 5 · 0⤊ 0⤋
i cant see the American boom lasting for any considerable time. Oil prices have reached The Peak, we wont see a return to cheap fuels for a long time. Prices will rise, the cost of American life will rise..i cant help but feel the entire Western Economic model is heading for a collapse of staggering proportions. Boom and Bust economies liek are ours are just to unstable, they demand cheap fuel and labout ,both of which areslowly becoming things of the past
2006-06-29 23:41:09 · answer #4 · answered by thomas p 5 · 0⤊ 0⤋
I think we have to keep an eye on China and the euro
2006-06-29 17:38:29 · answer #5 · answered by dorotheasosial 4 · 0⤊ 0⤋
shiiiiiit...do you think anyone knows anything about this whole economy biz?
Bernake is just acting "as if". The uncertainty is what makes it so damn interesting.
2006-06-29 17:31:23 · answer #6 · answered by frontmann2004 3 · 0⤊ 0⤋
as long as the planet and human souls are going to be offered to keep money going it will keep on eating us. if we stop feeding it though, it will die really fast.
2006-07-02 09:57:13 · answer #7 · answered by unknown u 3 · 0⤊ 0⤋
it is suffering from AIDS. it's bad and will get worse eventually!
2006-06-29 17:32:25 · answer #8 · answered by Vee 3 · 0⤊ 0⤋