As the U.S. National Debt races toward $17 trillion dollars and the dysfunctional, incompetent clowns in Washington continue to move this nation toward socialism, a major question arises …..Is there any real hope for America’s economy? If you are an optimist, there are three areas that could provide some expectation for a brighter economic outlook.
• Energy independence
What was unthinkable 10 years ago is now a real possibility for the United States. Within the next decade it is predicted that the U.S. will become energy independent. All the positive effects this would have make it the most important game changer. While advances in drilling techniques have enabled this to become a reality, environmental concerns and political headwinds could derail much needed progress.
• Increase in domestic manufacturing
The energy revolution will increase manufacturing, by providing byproducts that are useful for making a host of materials. As companies are spending to enlarge their capabilities, this could drive a boom in engineering construction. Businesses from around the world are expanding their operations in the U.S. Some companies have even begun to return operations to the U.S. after relocating overseas. Just shale gas recovery alone is expected to necessitate up to a million new manufacturing jobs in the next 11 years. Two other sectors that will be positively affected are trucking companies as they transition their fleets to natural gas and the auto industry which has been gradually improving after hitting historic lows.
• Housing recovery
The housing market as well as the construction industry is slowly continuing to improve. Rising property values and relatively low mortgage rates have helped demand. Surveys indicate that the nearly 1/3 of Americans between the ages of 18-35 that have been living at home with their parents are now starting to seek homes of their own; this along with the relocation of folks as they obtain new jobs and seniors moving as they retire certainly suggests that this trend should continue.
There is no argument that housing, manufacturing, and energy production could face significant issues both individually as well as collectively on their road to recovery, however they do provide us with a glimmer of optimism.