A New Age Of Economic Prosperity.

Economics Episode 2

Today I will painting an economic picture much different from the one I outlined earlier, one of new hope and economic prosperity, one where a major break through will kick-start the economy and benefit the world. I think that the most likely kick-start will come from green technology. What makes me say this is that green technology already exists but it’s too expensive and too hard to manufacture for the masses. So in order for there to be a green technology boom green technology would have to be both cheap, so that the lower and middle class can buy it, and also easy to manufacture so that it can be cheap in the first place. If the U.S. could pioneer green technologies it would open up a world of possibilities, while some sectors of the economy would be hurt, mainly oil comes to mind, most sectors would stand to gain tremendously. Due to people wanting new green houses than it’s possible that the housing market could stabilize and maybe even start to gain back some of the ground it lost when the housing bubble popped.

With the housing market picking up people would have to start taking out more mortgages and as long as the banks give them out correctly the banks to could stand to gain as well. Car companies would get a major boost and depending on what type of green revolution this is so would battery makers. All this building and revolutionizing would result in unemployment being cut in half by 2020 and as long as the green revolution is sustained unemployment could be at record lows by 2025 to 2030. The tax revenue generated by this green boom could also help the US get back to normal debt levels by 2045. Another good thing that can come out of green technology is a clean environmental future, which can benefit not just the U.S. but also the entire world. But none of this will ever happen unless Obama invests in green technology today so that the US can pioneer green technology tomorrow. That’s one of the things I’ll be talking about next time when I discuss what the Obama administration can to do get us out of this economic slump. Until then this is Ian Mundy signing out.