SSBG

A worldview is a set of claims that purport to be based on ultimate reality.

American economy is the strongest in the world

Posted by ssbg on January 20, 2006

 For the American economy is the strongest in the world – and it is growing faster than any other major industrialized country. Our economy grew more than percent in the third quarter – above the average in the 70s, 80s and 90s. We have added almost four-and-a-half million jobs in just over two years. Employment is near an all-time high. The unemployment rate is below 5 percent – below the average in each of the past 3 decades. Core inflation remains low. The national homeownership rate remains near a record high. Sales of new and existing homes each reached a new record in the third quarter of 2005. Real disposable personal income is up. Since the start of 2003, the Dow is up more than 25 percent and the NASDAQ is up more than 50 percent.

Productivity is also up. From 1973 to 1995, productivity in America grew at 1.4 percent, doubling our standard of living every 50 years. But over the past five years, productivity averaged 3.4 percent, doubling our standard of living twice as fast. And the more productive our workforce is, the faster incomes go up.

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