U.S. Negative GDP 4Q 2008
The U.S. posted a negative 3.8% GDP on the last quarter of 2008 according to the latest data from the Department of Commerce. Although this figure is still an initial estimate, it is in fact very alarming. We were all expecting that the holiday season will somehow trigger spending but it was not so.Washington Post was correct to observe that this scenario simply “…shows how a global credit crunch, a weak U.S. real estate market, and a decline in consumer spending have combined to undercut economic growth.” Then you still have the price of petrol products increasing little by little. While it is admirable that the new President is determined to cut the U.S. dependence on foreign-sourced oil, the average American is still very dependent on using his own car rather than finding and using alternative mode of transportation.
Default Mortgages
On another note, many are still defaulting their mortgages. This is rather hard for mortgage brokers who rely on this specific sector of the finance industry. Still, not to mention, many are still losing their jobs. Nonetheless, would one consider a career as a mortgage broker or mortgage banker, running net mortgage branches while the economy is still spiraling down? Why not. What you need is a reliable partner, like www.brightgreenmortgage.com, who will treat you as one, help you run your business, and achieve your full potential in this area. It is worth the try, especially if you have an indomitable entrepreneurial spirit, “ proven performance, problem solving & relationship building skills, along with a solid reputation, and uncompromising ethics. “Positive Perspective in Crisis
In my simple mind, any crisis (particularly, this recession) are but opportunities wrapped in rough edges that needed to be chipped away. Sometimes, it is a matter of perspective. Numbers (like a negative GDP, or a very low sales turnover on your business) can sometimes deter us. However, for some, the same numbers can actually propel them to stretch and achieve more.How about you; what is your take on these things?
4 Responses to “Current State of the U.S. Economy, Career on Brokering Mortgages, and a Positive Perspective”
Subscribe toNew millionaires always seem to sprout up during bad economic times. I have a chance if I pick the right lottery numbers! :-)
True.
Not only these (very few) people do find opportunities in crisis but they seem to thrive in bad times. Besides any crisis tend to bring out the best in some people.
Btw, should you be lucky to pick the right (winning) number, please remember me. ^____^
We also face an issue relating to our oil consumption due to so many Americans still living in very rural areas.
For instance, we live 13 miles one way to the nearest store of any kind. To get good prices the trip is 27 miles one way.
So I am praying that a plan also comes along for those out here to have some help when the time comes to change our autos over to an alternative fuel.
America has such vast areas that are rural compared to many countries that mass transit is just not feasible for millions and millions.
Also there are enough people out there who are smart enough to come out of this much better off than when the crisis began.
For instance, if you have really good credit the real estate market is prime for picking right now.
That's what I would do if we weren't so close to retiring. I would be buying up every house that I could.
The pendulum always swings and property value will go up again.
So some of the wisest shall come out of this wealthy when before they were middle class.
It's wealth exchanging hands. I liken it to a really good cleaning. It's hard work but it sure feels good when it's over.
Hi Shinade ^^, it's been a while. Welcome back to blogging.
I certainly agree with you that prime real estate are good investment nowadays, that is one have the resources. Should the economy starts rolling again, surely these properties will roll along.
What is wrong with any downturn in the economy (it's ironic actually) is that we are supposed to spend more to keep the wheel grinding. But on the contrary, these are the times that we really need to tighten our belts. So the end result, with less spending, less exchange in goods, result: a very sluggish economy.
Again, welcome back Shinade.
Namaste!