There are two opposite opinions floating around about the health of the U.S. economy.
The first opinion, shared by the current administration, mainstream economists, Wall Street and most business owners, is that we are merely in the bearish portion of a normal business cycle. With enough fiscal and monetary stimulation and the rich paying their fair share of taxes, the economy will quickly move back to its hay days.
The opposite opinion suggests the game is almost over. After decades of living beyond our means, the bank account is empty and the bill is due! While there is some difference over how long it is going to take, in general there is a common agreement that dark economic times are ahead for the bulls.
This type of doomsday discussion is not new, but people are starting to notice that the economy is not bouncing back like it has in the past. Equity in housing and retirement plans is dropping, the cost of living is going up and Washington seems clueless as to how to fix it.
People who are much smarter than me are trying to figure out which opinion is correct. All I can tell you is, the years ahead will be violent—which makes concentrating on the bottom line more important than ever.
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