The U.S. economy experienced rapid and abundant post-pandemic growth, rising wages and record-low unemployment. However, some economic issues have persisted. The overall U.S. economic outlook remains strong, but not without caveats.
Watch the above video as Straight Arrow News contributor Peter Zeihan delivers his take on the U.S. economic outlook and what potential issues he says Americans should be paying most attention to.
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The following is an excerpt from Peter’s June 19 “Zeihan on Geopolitics” newsletter:
If you don’t want to start your day with beautiful beach views and economic forecasts, you may want to skip the video. Today we’ll be discussing recent changes to the U.S. economy and what future impacts might look like.
Trump and Biden boosted the economy with massive stimulus packages post-COVID, but things are beginning to settle down. There’s some minor issues starting to pop up, like a rise in loan delinquencies and higher interest rates, but the U.S. economy still looks strong overall.
The bigger concern revolves around government spending surpassing private sector growth for the first time ever. This indicates a potential shift toward government-driven economic growth, that could undermine long-term dynamism and efficiency in the U.S. economy.
This isn’t something that will happen overnight, but if left unaddressed, the U.S. could face significant economic challenges down the road.