What Constitutes a Booming Economy for the Average Citizen?

Arnold Nadler
 


Visitors: 179

Like most people I am not an economist, just a perplexed Canadian citizen, trying to make sense of what is meant when people refer to our economy as booming. I look around and see the price of housing going through the roof, energy costs sky rocketing, and taxation has totally gone wild.

Did I miss the memo on how to get rich quick in Canada?

I am noticing families with two kids who have “normal” type jobs building homes, buying cars, taking vacations, and living a great lifestyle. How do two people with two kids, living on a combined joint gross income of $100,000 afford all these big ticket items?

Even if they did get help from family along the way, how can they even afford a mortgage, property taxes, utilities, and still buy a decent grocery order every week. Most of the citizens I meet have trouble just getting a full time job, and have to continually deal with company closures, layoffs, and down sizing.

According to the powers at be we are living in a prosperous times, with a booming economy. It sure seems that way if we consider all the new construction or the actual amount of people in the parking lots in our box store world.

Here’s my version of a booming economy

People are working at jobs were they are making a great living, can save up to buy a car cash, put money away for their retirement, buy a house with a sizeable deposit, put their kids through university, and have some spare cash to throw around for entertainment or hobbies.

Conclusion

My feeling is we are living in false economy, not a booming one. At some point the walls are going to come tumbling down, people will run out of credit, or their monthly nut will just get to high to deal with. So if you live with the belief that nobody can take away what you had, then enjoy these prosperous times.

Arnold Nadler is a long-time entrepreneur and founder of The Startup Business Doctor, a private company specializing in helping new and small businesses get their company off the ground. Programs include professional coaching, franchise opportunities and inexpensive advertising packages. You can get more information at StartUpBusinessDoctor.com

(399)

Article Source:


 
Rate this Article: 
 
The Average American Credit Score and How to Be Better Than Average
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Spain - Understanding Its Booming Economy & Unique Language

by: Jo Alelsto (November 19, 2008) 
(Travel and Leisure/Destination Tips)

How to Make Money Fast on the Internet - The New Booming Economy

by: Terry Hart (September 23, 2008) 
(Internet and Businesses Online/Traffic Building)

Booming Indian Economy and the Availability of Diverse IT Jobs in India

by: Shah Jigar (January 22, 2011) 
(Business/Careers Employment)

Gujarat’s Booming Economy Makes Jobs in Ahmedabad a Great Option

by: Shah Jigar (June 01, 2011) 
(Business/Careers Employment)

Why Move to North Cyprus? - A Vacation Paradise With a Booming Economy is ..

by: Vince Vivaldi (September 25, 2008) 
(Real Estate/Moving Relocating)

Citizen Eco Drive the unstoppable technology by Citizen Watches.

by: Fred Walker (May 12, 2010) 
(Shopping and Product Reviews/Fashion Style)

Citizen Skyhawk Watches Review Techno Gadget and Aviation Tool From Citizen ..

by: Saachin Mandloi (July 18, 2008) 
(Shopping and Product Reviews/Watches)

The Dow Jones Industrial Average: Failing the Average Investor

by: Steve Selengut (May 23, 2006) 
(Finance/Stocks Mutual Funds)

Released at Last - Why Average People Remain Average

by: Ralston Heath (July 04, 2007) 
(Self Improvement)

The Average American Credit Score and How to Be Better Than Average

by: Francine Denson (September 08, 2008) 
(Finance/Credit)