The Detroit Economic Club has all types of insightful speeches. Stuart Hoffman, SVP & Senior Economic Advisor at PNC Financial Services Group Inc. presented the speech to the Detroit Economic Club (DEC) . It was pretty good so I took some notes so as to share them at some point (Of course after I clean them up a little. I'm just trying to understand why the U.S. is lagging and what might sort of fix that on a root level. I just theorize as I grocery shop so don't really listen to me yet. Most of what come up with sort of makes sense, has research support, but I need to finish off polishing it now that I know it could potentially work. How that specifically happens is a difficult question because it is more of a practitioner issue requiring specialized knowledge. I'm just good at the structure and abstraction. Most of the time I'm in the ball park. I mean I could learn the individual parts but it wouldn't necessarily get a good return on the investment of time. )
They mentioned economic modeling. You can read something similar 'Mathematically Modeling Market Projections'
-Unemployment Low. Good sign.
-Bigger pay and opportunity to move companies.
-Mild recession.
-China and Japan less inflation.
-A couple banks failed because they were taking big risks.
-Feds expect to raise rates once and then need to cut rates early next year. Push out of recession.
-2/3 stocks 1/3 bond and a little more cash equivalent. (Good advice)
-Chip shortage on cars.
-2024 will be an upswing (Sort of in line with my projection. In 2020 when I made it, lots of things happened. I'm curious of the time period of 23/24 transition.)
-Mentoring was helpful.
-Many will return to work in office most of time.
-If U.S. defaults on debt it would be all hell breaks lose on economy. We would never have seen it in 250 years.
-The stock market will punish the inability to manage debt. (It seems so hard but its about going forward. If one is to extend there should be some realignment of our programs specifically to our national goals like any organization. That doesn't mean throw out certain social supports. It means we have to look at everything and see what is creating either a net positive economically and/or net positive on life satisfaction which improves the environment for personal and economic growth. Treading water doesn't help much except as time to make decisions. Time is overall an expenditure. See Sustainable Economic Systems, Start-Up Economy DC Model, Social Investing, Sustainable Economy)
-The Pandemic causes further differences between the haves and have nots. Money is being too concentrated in fewer hands.
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