It’s no secret to anyone that our beloved United States is in a serious economic recession. Things could get worse before they get better. That’s because we long have been doing too many of the “wrong” things economically, defying good free enterprise principles, productivity and common sense.
Currently it is reported that usually world-champion producer America is experiencing a decline in output of products for the first time since June 2009, which wasn’t a record productive time either.
Why is output down? It’s because demand is down. Why is demand down? Because our economy has cooled, with unemployment at 9.6 percent, and consumers are cautious about buying, not knowing “what’s next.”
Economics is a challenging “science.” But it is no “mystery.” Just look back over history and you can clearly see what factors have produced “good times” and what mistakes we have made that have produced “recession,” or even “depression.”
There are many things in life, in the world, and in economics that we can’t control. But there are many things we can control – such as excessive spending.
Some of the economic bad news these days is obviously a result of our doing – throughout the world, nationally and personally – too many of the things that cause troubles and not enough of the things that experience and common sense indicate make us better off.