Where the U.S economy is heading next and why the rest of the world will follow
Where the U.S economy is heading next and why the rest of the world will follow
In today's blog article we will be discussing a topic different from what we usually discuss here. While it's not our typical topic of making money it still consists of money and where your future finances can be heading. Now while I can't 100% predict the future I will try my best to be the most accurate I can be. Make sure you read the whole blog article so that you understand where I'm coming from. With all that out the way let's now get into today's special article.
Where the U.S economy is heading
Recently if you live in the U.S you've seen the effects the economy has had on normal everyday people. Whether your rich, poor, old, or young everyone recently has felt the effects of the economy. Now depending on what you've done with your finances during the pandemic, you can either be in a very good situation or a very bad one. What that means is what did you do with your money while we were locked down and stuck inside? Did you spend your stimulus check on any goods or services, or did you spend your money on investing in stocks, crypto, or even real estate? Another question to ask is what did you do with your time during the pandemic? Did you just sit around and game and sleep all day during the lockdown? Or did you try to get into a new side hustle or business?
Because what you answer tells you where you are most likely at in terms of finances and the social ladder. Now, where you at on the social ladder and in terms of finances is important because it can tell you where you'll be heading forward in your finances and wealth. See if you are the person who didn't sit around all day gaming and buying consumer bullshit you don't need but instead the person who took their time seriously and tried to pick up new hobbies, side hustles, or business and invested your money into stocks, crypto or even your own business then you'll be in a good position now and in the future compared to the others. The reason for that is simple the united states economy isn't going to be friendly to the ordinary citizen anymore. That means poor or middle-class men and women won't be having the easy road any time in the future and there are many reasons for that. Which will lead us to our next topic of discussion.
Why it's heading in this direction
Now there are multiple reasons why the united states economy is heading this way. The main reason why everyone is going to feel the effects no matter the demographics are because of inflation. The inflation rates within the U.S dollar have hit all-time recent highs and the reasons for that vary and aren't the main topic of this article. But this is why everyone should be worried because recent reports have come out saying that the inflation rates within the country are near 7%. I however don't believe that and believe the fed is underreporting to prevent panic because if you look at consumer prices they've gone up over 25 percent in some markets. I personally believe the inflation rate within the country is in the double digits maybe even up to 25 percent.
Now if the economy keeps heading this way in the future then there are going to be some problems within the country that everyone is going to be facing. What that is exactly is people's money will start losing its value i.e people's purchasing power is going down meaning you won't be able to buy as much as you could before with the same amount of money. Now another reason the economy in the states is changing is because of a silent revolution no one knows is happening right now. That silent revolution is the digital age, now most would say that we are already living in the digital revolution. But I don't believe this because as much as digital products are a part of our lives they aren't a part of it 24/7 every minute and second of the day. We will most likely hit that point when we get to the metaverse as by then I suspect that much of the world will have already been digitalized. The digital revolution is also going to bring many jobs that will require you to be in the digital world.
What I mean by this is that in the future we can see more jobs become digitalized. I believe we'll start heading more towards a digital creator economy. So what I mean by that is more people will start working for themselves digitally instead of working for someone else in the real world. Now the metaverse can either contribute to this significantly or create a whole new economic market of itself. But some examples of how this would play are for example look at me I mostly do all of my work in the digital world i.e typing my blogs, posting and marketing online and, buying and trading crypto are all in the digital world. Now, most people don't work like this and I'm one of the few who can do this since the beginning of the revolution. Furthermore to cement this recent polls and studies have shown that more and more Americans are becoming more independent and self-reliant because of covid, slow government response to the pandemic and disasters, and the government handling of the economy.
Why the rest of the world's economy will follow
Now the main reason the world's economy is going to be following the united states is very simple. First, the united states are the world's leader next to the Asian countries when it comes to digital adoption and ingenuity. Second, the worlds leading usually set an example as to how other countries should plan their economies, and with America still the largest economy in the world by GDP and wealth that's held within the country I doubt America won't have any influence on any countries economies. Third, the digital revolution doesn't discriminate against any country whether the country is an ally or enemy to America everyone is going to feel the digital revolution. This is because the revolution isn't just a part of one country it's a revolution for all of humanity. America is just going to be the first one to feel it because of how fast the public and private sectors adopt the technology. Now I did try my best to be as accurate and fact-based as possible so let me know down below how I did and what your opinions are on this.
My Final Words
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