6A - Identifying Current Economic Trends
1. A current trend in the economy is that the United States is no longer the absolute global powerhouse that it once was. This means that the economy of the United States is not necessarily weak, but it isn't as dominant as it once was. I believe that this is an opportunity because now other less rich countries have a chance to catch up and make a lot of head ground in terms of the world economy. This is a good thing because the more countries that are rich, the more rich the world is as a whole. I found this article on thebalance.com and it really stood out to me that the US economy is not as strong as it once was.
2. Another current trend in the economy is that a recession like the one in 2008 and 2009 is inevitable and that we must go through these economic highs and lows throughout time. This is an opportunity because it gives us a fair warning to prepare for the economic downshift and we will be able to take advantage of the prior knowledge so that we can save up some money and make the most of the opportunity. This really caught my eye because I saw that many people will not know that the recession is happening so soon and so they won't be able to prepare properly.
3. A huge recent regulatory change is the fact that businesses now have sales tax online. E-commerce businesses no longer have 0% sales tax and now must start paying for operations whether physical or not. This is a huge regulatory change because now businesses will have to be far more strategic about where they operate and how they operate.
4. Another recent regulatory change that could be put into effect is the removal of the affordable care act. The removal of this act has led to the rise of private health insurance but business owners are still required to make ends meet for all of their employees and make sure that they have health insurance. I see this as an opportunity because businesses now must be more strategic about spending and hiring and now private health insurance companies have the opportunity to make a lot more money.
2. Another current trend in the economy is that a recession like the one in 2008 and 2009 is inevitable and that we must go through these economic highs and lows throughout time. This is an opportunity because it gives us a fair warning to prepare for the economic downshift and we will be able to take advantage of the prior knowledge so that we can save up some money and make the most of the opportunity. This really caught my eye because I saw that many people will not know that the recession is happening so soon and so they won't be able to prepare properly.
3. A huge recent regulatory change is the fact that businesses now have sales tax online. E-commerce businesses no longer have 0% sales tax and now must start paying for operations whether physical or not. This is a huge regulatory change because now businesses will have to be far more strategic about where they operate and how they operate.
4. Another recent regulatory change that could be put into effect is the removal of the affordable care act. The removal of this act has led to the rise of private health insurance but business owners are still required to make ends meet for all of their employees and make sure that they have health insurance. I see this as an opportunity because businesses now must be more strategic about spending and hiring and now private health insurance companies have the opportunity to make a lot more money.
Hi Michael,
ReplyDeleteI really agree with you that the world is getting richer, however, US is still one of the most powrerful contry worldwide. As the technology and information developing, more and more countries that once “weak” become donated. And the world as a whole is trending towards strong.