The Economy For 2021

The economy is like anything else in life. Trends come and go. Today’s discussion is about how some economic trends might be making into 2021 and possibly beyond. Andrew Napolitano, a business analyst believes everyone should study the economy. The pandemic recovery makes it onto the list and here is why. The COVID pandemic has had a major impact on the economic side of things (for obvious reasons). According to some economic forecasters, the economy might not be on the redound until (maybe) the middle of 2022. Everything has been tanking since April (of this year). According to economists, there might be a slight rise, but it is not enough to save things (at least for now). This pandemic has been hard on everyone. One should know that the federal debt is not likely to decrease anytime soon. The two have plans for how to bring the economic situation around, but there is so much work to do. It is not likely to change for a long time. First of all, one should know that the debt reached an all-time high of $27 trillion in October (due to a combination of a few things).

The other thing one should consider involves interest rates. Say, for example, that the interest rates start to rise in a big way. That is going to be very bad for many. It will also increase the US debt beyond what it is now (which is about 77% higher than it should be). One can expect this trend to continue for a while. This is one of those economic trends that are bad from all angles. The weather (believe it or not) has a major impact on the economic status. Climate change is real. It is bringing real issues to many. Some have faced foreclosures on farms due to trouble. Some have had to declare bankruptcy. One could face drop destruction when working on a farm.

Since many seem to still be denying climate change, this is going to have an impact for next year and beyond. One should be aware of this if one has a business that is impacted by all of this. According to some reports, things like hurricanes and wildfires could rise by 50% by 2100 if not dealt with soon. Healthcare costs will rise. Some might be impacted to the point where one cannot afford the coverage. This means one faces an increased risk of getting sick and injured. Some plans do not have proper regulation. This means one could face harsher issues when it comes to seeking quality healthcare. There is one piece of good news one should know though (depending on how one looks at things). Oil and gas prices will stay low. Some argue that one will only spend $3 or less per gallon through 2030. One can see the benefits of this with transportation costs. One will not have to pay much for driving far, says Andrew Napolitano.