Tuesday, April 19, 2016

Main Street Americans Not So "Hot" on the Economy

Depending on who you ask about the economy you are likely to get different answers. According to a CNNMoney/E*Trade survey those on Wall Street feel the economy is doing pretty well while those on Main Street feel the economy is a little more gloomy. There will be bigger changes in the future and we will need to meet them to bring back optimism.

People are naturally pessimistic when it comes to the economy. More concerning is that many are afraid for their children and their lifestyle. We must admit that our country has done well when compared to others. We had a good ride since WWII and hopefully will have a good ride in the future.

That doesn't mean that things are perfect. We did go through the Great Recession that was caused partly by global factors, lending problems and poor choices. We will continue to have ups and downs as our natural cycle to development and improvement.

Why do we feel this way?

Change brings fear and fear of the future. Our children will live in a different world than us. The rules are being rewritten and they will need to compete in a way that we never had to. The WWII success are gone and we are in a global economy with global integration. They will need to compete against very hungry countries.

This means we need to improve our competitiveness. We will need to help our children by reforming our educational model, spark greater investments in our country through tax reform and legislation overhauls, as well as raise our children to be healthy and happy citizens. We have a lot of work to do and with a little effort we Americans can overcome this challenge like the many before.

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