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Can the economy keep growing?
Are we at the peak of the economy?
More and more people in my neighborhood are telling me they are starting to worry about the next few years. They believe that our economy has become so expensive that a recession must surely be coming. Looking around, I am sure we are doing just fine. Generally, I hear that we are doing very well economically, that the economy is still on the upswing. We don\’t have to feel directly for ourselves the fact that we are consuming more. Generally that is true, people are buying more and more and are not even afraid to go into debt.
Debt is steadily increasing because salaries are rising and people feel they can afford more. In fact, we are wealthy and our salaries are indeed rising. The downside is that we are constantly talking about average monthly incomes, which many employees never get. Average salaries include, for example, the income of members of Congress. There may be money to raise the salaries of pensioners, but if that happens, legislators will have to take a pay cut. That is not the subject of this article. In my view, we are doing very well. I think we are approaching a situation where the economy is in deficit and there is an economic crisis.
Should we fear a crisis? “20]
I have heard several people say that the economy is going to plummet; some predict a major economic crisis in 2020; some predict that the economy will be in a state of crisis in the next few years. I do not have a definite opinion on this, nor do I dare to say what year such an event might occur. Unfortunately, I agree that the economy cannot continue to grow. The question is how any crisis will affect us. Already today, some prices are very high. If people cannot pay back their debts, the economy will quickly plummet. In this case we are talking about the Great Recession.
Many people will fall into the debt trap. This economic situation is causing it, and we are not thinking about what will happen in a year or two. The crisis will come. Therefore, think about the future. Save your money and avoid reckless borrowing. It is not a good time to go into foreclosure proceedings. Keep in mind that the economy is truly at its peak and will surely reverse.
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