Difference between revisions of "Business as Usual"
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==2010-2015== | |||
The fiscal stimulus package was never heralded as the savior of the world financial problem. However, nobody expected the wound would take so long to heal once the band-aid of government support was removed. The high levels of government debt that burdened growth in Europe, especially Greece; Spain, and Ireland, kept investors on the sidelines. Market movements during the bleak days of 2011 were poignant, yet participation was low as the number of shares traded on a daily basis reached record lows. | The fiscal stimulus package was never heralded as the savior of the world financial problem. However, nobody expected the wound would take so long to heal once the band-aid of government support was removed. The high levels of government debt that burdened growth in Europe, especially Greece; Spain, and Ireland, kept investors on the sidelines. Market movements during the bleak days of 2011 were poignant, yet participation was low as the number of shares traded on a daily basis reached record lows. | ||
Corporations, once the pride of human innovation, had become the root of all evil. These institutions were no longer hiring. Corporations | Corporations, once the pride of human innovation, had become the root of all evil. These institutions were no longer hiring. Corporations that survived the great recession reined in spending and focused on delevering through 2015. In fact, many institutions that survived the recession were still struggling to tread water in the deep sea of illiquidity and lack of consumer demand. Corporations were making a profit and businesses were cash flow positive, yet, instead of using profits to grow core business management teams were using profits to pay down debt. | ||
The recession acted as a wake-up call to consumers. Consumers were no longer living on cheap credit. Credit reform around the globe reined in consumer spending and forced individuals to begin thinking about budgets and living with their means. This was no favor to businesses | The recession acted as a wake-up call to consumers. Consumers were no longer living on cheap credit. Credit reform around the globe reined in consumer spending and forced individuals to begin thinking about budgets and living with their means. This was no favor to businesses that continued to spend billions on marketing campaigns to entice shoppers to buy their goods. Yet, the effort was largely in vain as the unemployment rate in the EU and US was still above 9%. Without the return of consumer spending the stagnant growth experience from 2009 to 2012 was expect to stay for a few more years, no one expected it would remain for five. | ||
was expected to jump start economic growth and once again generate tax revenue by 2012. The receive the memo and tax revenues remained sluggish. The once large government coffers became empty. The austerity measures taken in 2010 did ease some of the pain, but citizens continued to demand support. Governments made the decision to cut non-essential spending and to support the unemployed. Constituents cheered as funds became available to feed their families, but the real | |||
they came to a quick end due to the high cost of green technology. The movement never caught hold and big oil maintained its strangle hold on world energy markets. Likewise, climate change initiatives remained a talking point among government, but no conclusive decision was made to reduce green house gases. Adoption of any new rules would push the world into deeper economic misery was the opinion among world leaders. | |||
[[File:traffic.jpg]] | |||
==2015-2020== | |||
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High vacancy rates in the city lead to reduced rent and young professionals flock to city centers, but due to the tough labor markets wages have fallen. and they lack the financial resources to attract investment in the downtown night economy. A few restaurants, bars and clubs provide the nigh culture of the city center. | High vacancy rates in the city lead to reduced rent and young professionals flock to city centers, but due to the tough labor markets wages have fallen. and they lack the financial resources to attract investment in the downtown night economy. A few restaurants, bars and clubs provide the nigh culture of the city center. | ||
City centers maintain the dominant force of economic activity for large multinational corporations; however, retail activity took place in edge cities. Entertainment was also moving to the suburbs to remain close to consumers. The city center had become a hub for young professionals. Cafes, bars, and | City centers maintain the dominant force of economic activity for large multinational corporations; however, retail activity took place in edge cities. Entertainment was also moving to the suburbs to remain close to consumers. The city center had become a hub for young professionals. Cafes, bars, and nightclubs dotted the streets. | ||
[[File:pollution.jpg]] | |||
==2020-2025== | |||
In 2022, unemployment in the EU and US fell below 7 percent for the first time in a decade and capital markets were once again willing to take on more risk. Entrepreneurs and small businesses were reinvigorated as money became available again. Yet, small business alone could not get the global economic machine primed again. Some small businesses became economic powerhouses in a five year period, much like Google and | In 2022, unemployment in the EU and US fell below 7 percent for the first time in a decade and capital markets were once again willing to take on more risk. Entrepreneurs and small businesses were reinvigorated as money became available again. Yet, small business alone could not get the global economic machine primed again. Some small businesses became economic powerhouses in a five year period, much like Google and YouTube | ||
Alternative energy cars continued to increase as government took minor steps in reducing green house gases. The | Alternative energy cars continued to increase, as government took minor steps in reducing green house gases. The 2020 vision in Europe was not achieved and the high goals of the USE to reduce emission by 2020 were never met. Yet, emissions tests, ethanol standards, and renewable energy requirement were enacted by legislations and a minor reduction of CO2 was achieved. Just not enough to reduce the worlds demand for coal, natural gas, and other fossil fuels. | ||
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Citizens began to complain about the death of downtown, but tax revenue was scarce and institutions did not have the appetite to invest in revitalization projects. Businesses invested in energy efficient light bulbs, motion sensor technology to regulate energy consumption, and other technology to reduce their carbon | Citizens began to complain about the death of downtown, but tax revenue was scarce and institutions did not have the appetite to invest in revitalization projects. Businesses invested in energy efficient light bulbs, motion sensor technology to regulate energy consumption, and other technology to reduce their carbon footprint | ||
==References== | |||
Traffic jam picture. Retrieved on August 20, 2010 from http://www.gothamgazette.com/article/iotw/20060116/200/1713 | |||
Smog Picture. Retrieved on August 20, 2010 from http://sitemaker.umich.edu/section4group1/fossil_fuels | |||
[[http://www.scenariothinking.org/wiki/index.php/Future_of_the_City_Centre_2025]] | [[http://www.scenariothinking.org/wiki/index.php/Future_of_the_City_Centre_2025]] | ||