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Economic Forecast
How We View The EconomyPosted on September 23, 2010 by Thomas (TJ) Underwood

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Economic Forecast

In the current economy it appears that many do not know the direction in which the U.S. economy is headed.

Even though the government or private sector will never tell you it appears that large U.S. companies are placing their bets on growth overseas. 

Or another way of looking at it is their growth model visualizes international growth and not domestic growth in the services and products that they offer to a large degree.

It is imperative that you do not look at the government, businesses or any officeholder in general to turn this economy around.

With just the sheer number of those unemployed or underemployed it is highly unlikely that anything the government does or the private sector does will get U.S. employment at the high levels as in the past.

Unfortunately, it appears that many jobs are now gone—never to return. In large part it comes down to simple economics. Most companies are in business to increase earnings and provide a solid return for their investors.

The U.S. market is not the most attractive to many businesses due to the following reasons:

1) Wages overseas are at a substantially lower level than that in the U.S.

2) Paperwork and red tape is at a lower level

3) The tax structure is more attractive

4) There markets are growing at a much higher rate than that in the U.S.

5) Even if new technological breakthroughs came up—it too would prosper overseas as opposed to in the U.S. due to the reasons mentioned above.

All of the above factors mean there is more income to be made overseas than in the U.S.

Therefore, do not expect the U.S. market to rebound at high enough levels to get the economic growth at a level as high as it was in the past.

We are now in a new business model environment and that alone means jobs will continue to go overseas.

Those that are created in the U.S. will be significant for those who get them but large numbers of hiring in jobs that provide a living wage will be few and far between.

It is imperative that you face this reality—regardless of how painful it might be.

You must look at the current landscape objectively and analytically and take the politics out of it. Use your senses to analyze what is going on.

Projected GDP in the U.S. is stagnant and future growth is expected to be low and slow.

When you consider that much of the GDP (Gross Domestic Product) growth in the United States come from the criminal justice industry, medical industry and defense industry you can easily see that if these industries had a major slowdown there would be negative GDP growth (recession or depression could occur) and the economy would be in turmoil.

Manufacturing (currently less than 15% of GDP) and other service jobs will open up, however those that pay a living wage and provide a decent standard of living for those who get them will not be at high enough numbers to provide real substantial economic growth in our opinion.

Contrast that with other countries such as China, India, Brazil and others and they have robust growth expected in the future along with a growing young (millions of young consumers who are moving up economically at a steady pace) population.

By knowing where this Country is at and headed to you should have the foresight to at least get your own financial house in order.

Paying off your debt in the most efficient manner possible is a sure-fire way to improve your finances and put yourself and your family in great position for this new economy!

In this new economy you want to have as little debt as possible and multiple streams of income to effectively traverse this new economy.

Those who have high debt and insufficient savings will unfortunately suffer the most. Do your best not to be in that number by analyzing and addressing your finances now!

If you need to find other streams of income, now is the time to put an action plan together to make that goal a reality.

You can no longer depend on the news media and talking heads to assist you in telling you how you should feel about the current economy.

You must detach yourself and analyze what is occurring with all of “your senses” and not what others are suggesting or asking that you believe or those who are trying to convince you to see the economic future their wayincluding this site.

The politicians, news pundits and other powerful interests will rarely tell you the truth about the economic reality facing the United States economy.

By looking at the big picture and analyzing the data for yourself you can see that employers find cheaper labor and growing markets abroad much more attractive than the U.S. market.

Again, it comes down to simple economics and at this point in history the economics does not favor the U.S. attracting and keeping jobs in large numbers that will provide a real living wage.

It is imperative that you act now to insure that “you and your family” have a prosperous future.

Even though jobs in large numbers and a slowed economy may be a permanent fixture—you don’t have to participate in this economic slowdown if you make the decision not to!

You can work toward making your and your family’s future a prosperous one by continuously and effectively improving your credit and finance position.

By putting together a written financial plan that you (and/or your planner)mentally formulate and believe in you can put in motion the foundation for improving your credit and finances in a major way. 

By adhering to and accomplishing your debt payoff goals you will be in position to benefit yourself and your family in a positive way for years to come!

Also, make the decision now to know what amount of income you will need in your retirement years! 

Do not procrastinate and do like many who go into their retirement years not knowing if they have enough income coming in that will provide them the ability to live at their pre-retirement levels.

Make it a point to put a written plan in action to meet the needs of your retirement years.

If you are unsure if you are saving enough for your retirement years to live at the level that you desire—you can go to the following sites to see if you are on track:




Also, if you are trying to decide whether or not you should take your Social Security benefits early or wait later in order to boost the amount you and/or your spouse can collect—you can find helpful strategies at the Center for Retirement Research at the Boston College website. 

Click on the Social Security Claiming Guide in the bottom right hand corner of the Boston College home page to help you determine the strategy that will work best for you and your family. 

By now having awareness of the larger economy and how the future job and economic picture can be bleak for many—you are now in position to know that you need to take positive steps to improve your credit and finances.

On this site you can find a wealth of information to improve your credit and finances to help better prepare you and your family for the new economic realities facing this Country.

We realize that you live a busy and hectic life, therefore we take the fact that you are visiting this site seriously. 

Our goal is to always address the areas of finance that are most important to you in a manner that you can understand and apply to get effective results.

After you browse and analyze and you will no longer be able to use “your lack of awareness of what you need to do financially as an excuse” as everything you need to do improve your credit and finances to a high level can be found on these sites. 

To See Why You Should Take This Economic Forecast Seriously—Click Here... 

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About This Article:


The above article was written by Thomas (TJ) UnderwoodThomas (TJ) Underwood is a former fee-only financial planner, a former top producing loan processor and is currently a licensed real estate broker in the state of Georgia. 

He is the writer behind The Real Estate & Finance 360 Degrees Series of Books that include The Wealth Increaser, Home Buyer 411 The Smart Guide to Buying Your Home, Home Seller 411 The Smart Guide to Selling Your Home, and  Managing & Improving Your Credit & Finances for this MILLENNIUM.

In addition he is also the writer who created The 3 Step Structured Approach to Managing Your Finances, and CREDIT & FINANCE IMPROVEMENT MADE EASY—NEW GUIDE that you can download right now "(at MIMIMAL cost $3.95)" to learn more about his writing style and how you can achieve "more" success in the current economy.

He is the creator of where he regularly blogs about helping consumers improve their credit, finance and real estate pursuits in an intelligent, consistent and proactive manner. 

He’s always looking for ways to make intelligent finance improvement happen for those who “sincerely desire” success in their future. He was the first financial planner to coin the phrase "financially alert mind"  and he consistently writes in a style that is designed to provide consumers the ability to take control of their lives and achieve great results.

You can contact him from a number of sources but the most direct way is to contact him through the contact us block that can be found at the bottom of this page.  You can also get highly relevant tips on "living your life more abundantly" and link to and possibly earn revenue by logging on to

He is also an IRS registered tax planning professional with over 30 years of tax experience and can be reached at:



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