Monday, March 19, 2007

It's the Economy Stupid - why we're doing OK economically

I saw 2 articles today, one highlighting why the current turmoil in the sub-prime markets won't have much of an impact on our economy, the second showing data to support how satisfied the average American is with the economy. This contrasts sharply with the 'if it bleeds, it leads" doom and gloom of media articles.

Did you know:

  • Household net worth has risen to over $55 trillion - an increase of 7.4% since 2005
  • Corporate profits are up 20% over last year
  • US households, at $28.8 trillion, have more net financial assets than the rest of the world combined
  • 9.5 million new jobs have been created since 9/11 and unemployment is likely to drop below 4.5%
  • 89% of Americans feel secure in their jobs - higher than any time in the 1990's
  • 52% of people are satisfied with their jobs
  • 71% of people feel secure in their financial situation - higher than in the 90's
  • only 9% are worried about making minimum payments on credit card debt
  • 88% are not worried about losing their jobs to outsourcing

The Greatest Economy ever continues to rule. Certainly there will be ups and downs but the long term trend continues to be positive.

No comments: