The economy going nowhere

Every month, usually the economists and politicians get excited or disappointed by the unemployment numbers and they base their analysis with how much the economy is going to improve. But as many people have experienced it, the economy is at a standstill and whatever excitement the unemployment generates, it is not going to erase the fact that the general public is broke and getter more so every day. Most of the people were underwater already with their mortgages and the hurricane made their biggest investment-the house literally under water. So now the people are battling not only market forces but also natural forces. Their biggest ATM has just been gutted to the ground.

The same ATM that was used some years ago to get anywhere from home equity line of credit to spend it on vacations, college education, cars, renovation, investment property is now completely drained of superficial money. Maxed out of credit card and under water houses, car payments and grocery bills, people are really stressed out and under huge amount of debt and there is no way in sight if it is going to end before the next elections. So whatever the incentive to reduce taxes and other monetary benefits that the government may or may not dole out in future, it is all going to either reduce the debt or increase the savings in these uncertain times. So from here on , experts advice on the economy should be taken with a grain of salt if it is too optimistic because for a few years, the economy is not going anywhere and staying put.