Boeing Predicts Slower Economy For Next 20 Years

Boeing Corporation stated that its orders for May 2009 are down 70% from May 2008 and that it predicts a 33% decline in production orders for the next 20 years.

Reeling from the economic downturn and the resulting decline in air travel, Boeing Corporation sees no basis for increased aircraft production given the serious decline in production that has occurred during the past 12 months.

Contrary to Boeing's position, forecasters are predicting that the US economy will "rebound" in 2010, others state that 2012 is more realistic. If unemployment continues at present levels or increases over the next 24 months then the more valid prediction will mirror Boeing's position.

The possibility of a 20 year economic downturn in the US economy is a staggering proposition which negates any and all efforts over the next ten years to rebuild in the US. It seems pure folly to invest in new ventures where general market conditions will not support or reward the marketing effort.

The more Americans feel economically entrenched the more sweeping will be the consumer indifference to new products and new markets. If the US consumer is not financially viable or feels threatened by economic and political events then spending will cease or decline so substantially as to negate the efforts of industry. Sphere: Related Content