A Mediocre economy, a not so mediocre future.
NEW YORK CITY, NEW YORK — While inflation, the median gas price, and un-employment have sustained themselves, there is expected to be a major shift in the U.S. and Global Economy faster than expected.
The period from 2007 to 2016 was marked by significant economic events and challenges, particularly the global financial crisis that originated in 2007–2008. The crisis was triggered by the collapse of the housing market in the United States, leading to widespread financial instability and a severe economic downturn. In 2007, the world experienced the onset of the subprime mortgage crisis, with financial institutions facing massive losses and several prominent banks requiring government bailouts to avoid collapse. The crisis had a domino effect on global markets, causing a widespread recession that persisted into 2009.
Governments around the world responded with various stimulus measures and monetary policy interventions to stabilize their economies. The U.S. implemented the Troubled Asset Relief Program (TARP), while central banks globally slashed interest rates and engaged in quantitative easing to boost liquidity. By 2009, many economies started showing signs of recovery, though the pace and extent varied across regions. Governments and central banks continued to implement measures to support economic growth and stabilize financial systems.
Throughout this period, emerging economies, particularly in Asia, exhibited resilience and contributed significantly to global economic recovery. However, challenges such as high unemployment rates, fiscal deficits, and ongoing financial market volatility persisted in many developed nations.
By 2010, some economies, particularly in Asia and Latin America, experienced robust growth, while others, notably in Europe, faced sovereign debt crises, leading to financial instability and austerity measures. The Eurozone, in particular, grappled with the Greek debt crisis, creating uncertainties about the future of the European Union. Overall, the years from 2007 to 2016 were characterized by a complex interplay of financial crises, economic recovery efforts, and regional variations in growth trajectories.
While we are still recovering from the financial crisis from over almost 10 years ago, we are still addressing the concerns and issues that effected us. Poverty Nationwide has decreased too 11%, in part of effect to legislation passed to combat homelessness.
The United States’ GDP continued to expand, albeit at a moderate pace. According to the Bureau of Economic Analysis (BEA), the annual GDP growth rate for 2016 was approximately 1.6%, representing a slowdown from the previous year but still indicative of a resilient economy.
“The U.S. Presidential election in November 2016 brought additional uncertainty to the economic outlook. The unexpected victory of James Lord introduced the potential for significant policy changes, including tax reforms, deregulation, and infrastructure spending, which could influence economic conditions in the years to come.” — Randolph Wright, Strategist
Following the Certification by the U.S. House of Representatives, and the overturning of the Election of James Lord, internal polling suggested Americans “had more faith” in the economy than in mid-November.
