A Reason for Sustainable Production
While the people of the United States are trying to pull themselves out of the hole created from the mortgage credit bubble, the rest of the world does not seem to be making the climb any easier. The unpredictability of worldly events has generated more pressure on Ben Bernanke and key decision makers at the Fed. Without a significant turnaround in output and unemployment numbers, America could be facing a long-term and much larger problem similar to the debacle the Japanese faced in the 1990s: deflation. The public’s choice to not spend combined with a steady drop in prices is a recipe for disaster. Instability across the globe causes reason for the American public to realize they cannot rely on the usual economic allies to stimulate exports which could support job creation.
The post recession year or two has been a struggle to reach sustainable levels of production capacity. According to Bloomberg Businessweek’s reference to the Federal Reserve data, the production capacity used in April was down twelve percent from the average over the past 38 years. If this number lacks an upturn within the next year, prices will continue to drop and the Fed could be left powerless in the case of a deflated economy. Otherwise, the United States is still facing a slow economic recovery as the world markets continue to struggle and new jobs are not generated.
The recent debt dilemma in Greece has shown its effects as American markets have failed to signal any stability throughout the uncertainty. For America the end result has been a strengthening in the dollar, making U.S. exports unattractive. Without a reason to create goods for export and without the demand for goods within the country, the unemployment rate of 9% will continue to remain at a high level. These times are proving to be a pivotal point for the fight out of this economic slump. Recognition by Americans to have a sense of urgency and a particular attention to detail when decision-making will help mitigate the effects of other nations’ problems in America’s road to economic recovery.
Photo courtesy of Flickr.
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