With a Recession Immanent, Noble Newman Shows You How to Plan Ahead
No matter which nominee was going to be our new President, a recession was in the making. Now that President-elect Trump will be in office, he will be the person to help our country get out of the recession in the shortest period and with a greatest degree of recovery. Can he? Of course.
But how?
Firstly, the recession must happen. We are in too tenuous a position for it not to happen, so let’s have it happen on our own terms. It’s a healthy process and we are due. We must choose to stop any manipulations to infuse the market with money that will immediately turn the market around. Cushion? Yes. Turn it around? No.
The reason is simple. We simply can’t sustain the current state of the economy without dire long-term consequences. “Negative interest rates”, “Tenuous Business Practices”, “Free Money.” A lot of terms are being thrown around and it all points towards a correction.
For a myriad of reasons, the world needs to trim excess spending and streamline business practices to support their products, services, and the people who work for them. Other articles address the sustainability and lack thereof of our current state of affairs. Let’s just keep things simple and brainstorm some ways to get out of the recession and get ready to praise those governmental heroes who are preparing to do this already.
President-elect Trump is in a unique position to tell the country that the recession will hit and that he is the one who can get us out doing what he does best. Let’s list some ways he can do this once he is in office.
1) Infrastructure: Rebuild the country
States are struggling to keep up with repairs and this is a great way to bolster the economy and give people jobs helping strengthen the physical properties of our country.
Can you imagine our roads fixed and functional, widened where needs to be, and made safer where accidents are prone to happen? Dams, Bridges, airports and so many more things need our attention.
Can you imagine burying our power lines with sensors to help locate issues? We would not have to worry so much about power outages again! New areas are being built this way. What about areas where wires are fraying and a stray gust of wind can blow down rotting electrical poles. This would be a thing of the past.
Can you imagine new parks and centers being built to serve communities? Would you like to have these things in your neighborhood?
Can you imagine setting up new power plants, wind and solar fields, and wave powered hydroelectric generators in the ocean? I really don’t know what is possible, but the government can set it up so they provide the opportunities to do it! AND, they can make sure that Americans who need the jobs, are given the first opportunities to get them.
It’s the New Deal all over again. We will need the Relief, Recovery, and Reform implemented then but modified for this decade and under a Republican businessman with the power of the Presidency behind him.
2) Get us out of debt
Our country owes a TON of money. We can’t live with this much debt without it severely slowing us down or worse, eventually stopping us dead.
Let’s take this to a more personal level: Even living paycheck to paycheck, what is the number one way to help pay for your children’s college? Make sure you are financially secure yourself.
What should you do first you do first? Pay for new programs, luxuries, or amenities or pay off your credit card debt? Pay off your Debt.
Should you buy name brands and use premiere services or do you cut costs until you are debt free? Cut costs until you are debt free.
Should you take out more loans or learn to live within your own means? Stop borrowing, live on what you earn.
Our country needs to start chipping away at our debt, which is an obvious and HUGE drain on our economy. We need to help ourselves a bit more, free ourselves up, and then we can help the world even more than we are now.
3) Use tax rate increases and tax breaks to reign in outliers and shore up the weaker areas of the economy.
Businesses trimming the fat can be rewarded for it. Not by letting employees go, but removing excess spending and working to reduce or consolidate research and development endeavors.
Individuals who can provide a plan of action to get out of debt and show evidence that they are actively working towards that goal, could get an incentive as well.
4) Prepare the country for a steady or significant federal interest rate increase
The initial shock may feel bad, but it is good for the long run. Help the people prepare by teaching them and getting the word out about what will happen and how we can weather the storm. Send out olive branches by highlighting how those who can help are helping those who can’t.
We need an economic flu shot.
We know it’s coming, because you told us.
There is an initial shock of pain that feels bad, but didn’t last that long.
Whoops, you told us there might be a reaction to the shot, and we are feeling it.
Thank goodness, you had the medicine to help us reduce the symptoms while our bodies recovered.
Now, fully recovered, we are stronger and protected against the strain of even worse economic flu that will hit in the future.
5) Use experts to help make decisions on the fly
This should be priority number one and should have an entire no-red-tape-think-tank working on it and being paid to make intelligent decisions. Things will change and portions of the economy will fluctuate unexpectedly. Have the resources in reserve to make recommendations come to fruition faster. It’s for the better.
The typical layman will want to know what is happening. We will want to know who is working on it. Every “economic fire” the government puts out will mean more confidence in our leaders and economy. This is what we need.
Whoever starts predicting the fall now with a plan to recovery, will be a political hero. He or she can help by showing he has a plan and taking charge. President-elect Trump has the chance to do this as do others. But who will step up to the plate to bat for our country?