Is The Economy Finally Starting To Recover?
The stock market just experienced its best October in seven years. October is a month many stock market investors fear. October was when some of the largest historic crashes happened: The Stock Market Crash of 1929, Black Monday in 1987, and October 2008. However, this year October was a great month for the stock market.
And it is continuing to climb. In addition, many business owners are optimistic again. A recent poll was conducted of prominent Wall Street Money Managers. A majority of them saw the stock market going up next year. And as we all know, as the stock market goes, so goes the rest of the economy.
I am optimistic about 2011. I think the real estate market will finally stabilize. Businesses will start hiring again. People will start spending money again. And before we know it, we won't be thinking about the recession anymore. Sometime next year, maybe spring or summer, the economists will release a report and tell us the economy has restarted.
And then we won't worry about it anymore. I think the economy will recover fairly quickly. Everyone gets real beat down during a recession.
Remember the recession in the early 90s? Everyone thought that our best days were behind us. Experts told us, "The Soviet Empire just fell. That means lots of unemployment in the former soviet bloc and slow growth for America."
Was it true? No. The same thing happened in 2001. People thought the economy would never recover. "The tech sector of the stock market is dead", they said. But look at where tech stocks are today. Many of them are at new highs. Americans will continue to innovate and compete on the world stage. And our economy will grow.