For the past year or two it’s all been negative when we talk about the economy–stock markets were down, unemployment was rising, and more banks failing. We’ve sort of become numb to those things as they were commonplace, but lately the news has been a little different. Each week new reports come out that say manufacturing may be on the rise, some states are beginning to see an improvement in unemployment, and let’s not forget the 70% rally the markets have seen over the past year.
So, are these the green shoots we’ve been looking for, or are these just false signals that will ultimately lead to a double-dip recession? I’m no economist so I can’t really comment other than what I’ve heard on the news and seen first hand, but I can say that things are certainly better today than they were a year ago. Living in Michigan, the biggest problem we continue to face is the record unemployment and sagging real estate market. At least in manufacturing, I still know a lot of people are out of jobs. And when you look at the houses for sale around here, many have been on the market for two years now and still haven’t sold. So, I know we have a long way to come in this area, but I also realize we will be one of the last areas to recover. So, I feel that if the country as a whole is starting to gradually improve, we’re at least on the right track.
But what do you think? There are a lot of differing opinions out there still and I’m curious to hear your thoughts.
Author: Jeremy Vohwinkle
My name is Jeremy Vohwinkle, and I’ve spent a number of years working in the finance industry providing financial advice to regular investors and those participating in employer-sponsored retirement plans.