It appears from the next that the economy may continue to expand forward without a recession. The recession forecast was a very common recent forecast by many economists so to have a reversal in fortune is a good thing. In the article Recession fears vanish as U.S. economy shows staying power Federal Chair Dr. Jerome Powel is stating that we may avoid the recession completely and others are saying we may continue to expand (i.e. a new first time large scale digital age economic platform once homeostasis is reached.)
I think there has been a trend since before Covid and this is the time the U.S. can maximize from the Industria Era to the Digital Era and with luck encourage market leadership for the next 50 years and provide high quality employment to the next generation. The U.S. has opportunities now but they are a one shot opportunity. Infrastructure, innovation, and human capital can bring back advanced manufacturing (The trend has started).
If we miss our opportunities for whatever reason, no matter who points the finger at whom, we may run the risk of struggling to get back on our feet. Continue the trend toward growth requires bi-partisan effort and working together. Not something easy when most are trying to please one group or another and not thinking about the big picture.
We will have to wait to see if the elections sort of put a major dent in that growth or not. This is why politics should follow solutions and not visa versa. Economic stability and political stability are associated in the literature. Bipartisan solutions will build a great nation while political pandering will cause our future to dissipate between our fingers (What is a vote worth? Its worth a lot in a democracy)
As with all things, maybe, maybe not. Its just a possibility with a little probability if the trajectory continues. It could also go other ways depending on political events. The digital era economy will continue to develop because its practical but our ability to continue to lead it and improve our innovative capacity is another story. (That is politics!).
Related thoughts and articles on the idea:
GDP Contracts 1st Q of 2020-Is It a Short Lived Shock and Digital GDP Recovery?The U.S. is Growing and China is Slowing (How Long will it Last?)
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