2016 is a long time away. With the negative economic news from this past week....most folks are now preparing for more such news over the next couple of months. Expectations this year are mostly marginal. Most folks are simply hoping to hold their job and status, and expect little-to-no economic rebound.
In essence, people are starting to set up a long wait for 2016, and some new massive economic recovery. For the most part, they accept the fact now that this administration has a different vision for the economy, and nothing much can happen.
Waiting? It's not a typical trait of Americans. We'd like quick action. We'd like to see something happen now. And in this case? Four years is what we have to expect for something drastic to occur.
I would predict that the period of 2016 to 2020....will be a massive economic boom period. Some parts of the government will contract and taxes might actually be cut by ten percent.
I will predict that a housing boom will occur, with banks very willing to offer up great loans. Yeah, those no-down-payment loans will appear once again.
I will predict that small business operations surge, and grow by twenty percent. A number of one-person and two-person operations will appear out of thin air. Tax revenue for 2017 and 2018 will be significant and a fair amount of new capital will appear in the government's hands.
Bankruptcies? Well....they will still be occurring. These young guys who borrowed $60k for college tuition will admit defeat. The folks with houses that just won't sell for their original price.....will admit defeat as well.
But there's this big bold world sitting there in 2016. Your 401k and IRA program will expand out over that four year period and likely be worth fifty percent more by 2020. Guys will actually admit retirement is inches away by 2020, and talk excessively about that big day of retirement.
Yep, 2016 is something that we can now wait on. It just might be worth the wait.