Yesterday, I wrote about what Dr. Seifried, Economist called the "7 Deadly Sins" affecting the US Economy and how he believes things will improve. Dr. Seifried analyzed the remarks from the Federal Open Market Committee (FOMC) meetings. At the August 9, 2011 meeting the committee said they would keep the Fed rate at 0 until 2013 which...
For the 7th year in a row, Star Financial brought Dr. Edmond J. Seifreid, Economist to speak to hundreds of their clients, educating them on the economy and what the future might hold. As usual. Dr. Seifried does a fabulous job explaining difficult economic concepts in understandable, entertaining terms.
He began buy listing what he thinks are the “7 deadly sins” that currently plague the American Economy. They are:
1). Federal Spending which is currently at 25% of GDP which is traditionally 16-18% and is at the highest level since 1945.
2). The budget deficit which is 10% of GDP ; the highest level since 1945.
3). The federal debt is 67% of GDP which is the highest level since 1945.
4). Only 58% of the population is working. (Lowest level since 1980.)
5). Long term unemployment (workers unemployed for 6 months or longer)is at 43% which is the most since 1930.
6). The percentage of people paying income tax is at 47% which is the lowest level in modern times.
7). 47% of the population receives federal benefits.
Dr. Seifried was optimistic about the propects for The United States of America to restore prosperity. He believes there are several factors that will lead to change including pent up demand, improvement in the housing market, continued low interest rates, increased exports due to a low dollar and the energy independence movement.
At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale visit our website at NorthEasternGroup.com.
North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.