Economic Growth and You

  • Hello to all my Frugal Friends!


    Most of us are so concerned with our own finances that we don't have the time to pay much attention to what's going on in world finances. Do I thought I'd pass along an interesting article I saw. The article was from Among other things it included some figures about how the big economies of the world are slowing down.


    "After growth of 3.2 percent in 2015, the world economy’s expansion will slow to 3.1 percent this year before rebounding to 3.4 percent in 2017, according to the report, keeping those estimates unchanged from July projections. The forecasts for U.S. growth were cut to 1.6 percent this year and 2.2 percent in 2017."


    Typically some economies are growing faster and that helps to pull those that are growing slower along. But if they're all slowing down there's no pull for the slower growth economies.


    What does that mean for you and me? It means that barring a big change we can expect a slow growth economy to continue in the U.S. To support population growth we need the economy to grow at 3% or more. We've been below that level since the 2008 recession. So most of us probably won't be seeing a raise any time soon. At least not without some special effort on our part.


    To help you get that raise we have a library section on increasing your salary. If you'd like a little extra income you might want to check it out!


    Keep on Stretching those Dollars!


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