Expert economists are of two kinds, those who believe in the economic cycle theory and those who don't. The theory of economic cycle has helped predict most of the financial market collapses and peaks of the past. As per this theory, the US could be heading for one of the worst financial crisis ever around 2017-2020. Is this bound to happen? If yes, what would be the circumstances leading to such a predicament and more importantly what could be its impact on the already widened economic strata of the society?

Unemployment crisis that especially aggregated by military layoffs and tech company layoffs that shook the nation is now slowly settling down. Job market does not bleak mow and more people are changing their status to employed from unemployed. But even then, the crisis is hovering around the corner waiting to smother us down. It has not developed overnight, but is the result of a series of events that have been slowly, steadily and stealthily making the economy unstable and leading us towards doom. Currently, as a result of inflation rearing its ugly head, the prices of commodities are on the rise and dollar on the low. The cost of education, healthcare and properties are on the rise. At the same time, income/wages is stagnant and does not show any inclination to increase. The US market is very much consumer based and has always encouraged the consumer to spend more and more. The consumer does exactly as prompted, even going beyond his/her means by borrowing more and more. The rich will get more money to invest back in the market. This widens the chasm between the rich and the mediocre/ poor of the society, making the rich richer and the poor, poorer. This could be the saddest but realistic fate of 90% of the Americans in 2017.

So the answer to what would be the circumstances that lead to 2017 crisis is without doubt, a debt laden market. Inflation is also the culprit causing more layoffs, increasing the need to borrow more and this will in turn cause more inflation raising the interest rates culminating in less economic activity. Turning a blind eye or denying its existence does not resolve the issue as it is very much here and now. There may be some economists who might fear deflation, but one begs to differ here as nothing can empty a bank account like inflation. Though inflation is said to shift the money from the savers and investors to the debtors, the wages lag and cost of living rises unbearably.

So the net effect here is economic stagnation and decline.

The summary of an analysis on this financial crisis which appears to be inevitable is though this crisis will make the rich richer, the market again is dependent on how much the mediocre / poor will spend. So the way to survive would be to curtail spending and to live well below means.

Predicting the future is a very hard task especially in the event that there are still problems with discovering what's happening in the economy of today. Anyway, it is still essential to predict the future when you are starting a fresh career, enrolling in college or investing in new skills.

The rate at which the business world is changing these days is getting higher than ever. Two of the major contributions to the fast rate of business world change are better technology and globalization. A method to actually predict which exact fields will get hot in the future is by staying away from those which aren't hot. Every year, the government's Bureau of Labour Statistics draws up a list of industries that are declining and have common trends. The list most of the times might involve jobs that are cheaper overseas, like jobs that are in low – skill assembly or machines that are becoming good human replacements, for instance call centres. Other fields that require cutting costs and downsizing are vulnerable as well.

In essence, building a lot of skill sets can be an effective way to be distinguished from others in the market. Some of the skill sets that can be considered include analytical expertise and liberal-arts background or a law degree with scientific knowledge. It is important to keep in mind that the best lasting skills are usually those that are transferable between different fields.

Either way, one will have to set up one's career in a field, so these are some fields that will most likely flourish by 2020.

Therapy and Counselling: The fact that mental heath is just as important as physical health has definitely been established. Also according to the Bureau of Labour Statistics, the demand for family and marriage statistics is most likely to increase by 41% in 2020.

Data Crunching: The time of big data is just beginning as many organizations are demanding to have information databases for their customers, competitors and themselves. Marketing and market research are two fields that are growing in the use of data exploding.

Finance. The movement and management of money is technically complex, and integral to most companies. That means there will be more need for finance experts. There may even be a shortage as students that were once involved in finance look into other different fields.

Computer Engineering: These days, most software developments are done overseas but there is still strong demand for high level computer experts to put systems together. For example, computing at high speed is rapidly becoming a competitive advantage and majority of organisations require faster and more secure networks.

Scientific Research. New innovation will keep on generating leaps forward in pharmaceutical, assembling, transportation, and numerous different fields, which implies there will be solid interest for labourers educated in science, maths, and designing. A few territories that show specific guarantee should also be considered: biotechnology and biomedicine, nanotechnology, mechanical autonomy, and 3D printing, which permits the assembling of physical items from an advanced information record.

Owning a Home in US Has Fewer Tax Benefits Than You Think

According to a research by John Burns Real Estate Consulting LLC, the tax benefits gotten by every home owner have been unattractive to normal buyers ever since the rates for mortgages began to drop in 2008. Notwithstanding the fact that most of US generations have been relying on those same tax benefits.

According to Burns, in the case of two people that are married and at a point paid 20% for a home at a median price and borrowed the rest, the normal deduction was about 2500 dollars more than the initial price they'll get when they itemize their interest for mortgage and property taxes. In a report released on April 10 2016, Burns communicated that when compared, it was discovered that those expenses were easily more than the normal deduction per year from 1972 – 2008.

The costs for borrowing that were near record lows have made the amount homeowners are capable of deducting from when filing their income taxes to reduce drastically. Back in 1971, the normal deduction for two married people was at 1, 300 dollars, but nowadays they go for 12,600 dollars. This means that there are no taxpayer's benefit for the first 12,600 dollars of itemized deductions. This was according to the research performed by Burns. Burns also said that's a major reason first time home buyers in the U.S are depressed. According to Burns during a phone interview with Bloomberg, a big reason most entry-level buyers refused to come back is because the tax benefits used to provide urgency for buyers. But now that the benefits are gone, so is the urgency.

A normal entry-level buyer paying up to 95 percent of a home that is median-priced in the US drops lower than 12,000 dollars as interest for mortgage and property taxes. According to the report given by Burns, this amount isn't enough to warrant itemizing.

Interventions by the Fed

The average rate for a fixed mortgage of 30 years was at 3.58%, as per data provided by Freddie Mac, this rate is the lowest rate seen in about 3 years and it is also very low when compared to the 6.63% rate of July, 2008.

Truly, little mortgage rates will be an advantage for entry-level buyers as purchases will be easier to afford. Also, even though at the time some mortgage holders are not receiving the deduction in interest, changes will begin to become visible as the rates continue to rise said the National Association of Home Builders' chief economist, Robert Dietz. The deduction will later assist in reducing the increase in cost for borrowing which have been predicted to rise as the benchmark lending rates rise.

Dietz also communicated that according to an analysis performed by the Joint Committee on Taxation's homebuilders' group of figures, 7 out of 10 mortgage holders take the deduction. Dietz also added that some of those buyers have probably bought the houses before the crash of mortgage rates.

Nowadays, sports industry has become one of the profitable business industry in all over the world. No doubt, sports are one of the truly global industries. This is one of the industries that offer a lot of options and opportunities. This industry is based on a lot of segments such as Sports Media, Sports Medicine, Sports Team Administration and Sports Management. The main focus in this article will be on Sports Management.

Make the Right Choice Of career at the Right time

Sports Management is one the best field for the sport lovers. Sports manager can be employed by the sports team organizations or by an individual sports player. Sports Management offers a complete package related to managerial skills. A sports manager has to be involved in planning, organizing, managing, budgeting and leading the sports activities and events which make easier for the team to pay attention on their winning rather than worrying about the business challenges related to sports world. The duty of a sports player varies from client to client. When sports manger is hired from an individual in this case sports manager is responsible for keeping in peace of mind his client such as they are responsible for dealing with the issues and conflicts that arises within the team on behalf of the sports player. Furthermore, in this situation the main motive of sports manager is to ensure that his sports player is at the peace level and he is mentally and physically prepared to win the match. But, when sports manager are hired by an organization then they have quite different responsibilities. In this situation sports manager is responsible for overseeing whole departments of the organization which are inter-related to each other. He must ensure that the organization is organized in a well manner and operating effectively.

There are different ways of becoming a sports manager. It is not essential that one has to be sportsman or possess expertise in his own field. Many sports manager possess a college degree that relates to management such as business, marketing, accounting etc. Many sports manager do internships within different organizations in order to achieve the expertise of management. To be a sports manager an individual must have sound knowledge of business and must have specialized expertise in managerial field. An American Sports Business Management offers business studies which assists to provide best business studies and understanding how to deal with sports challenges in terms of management. There are some colleges in USA that offers Masters Degree in sports management. American Sports Business Management is one of the renowned colleges that offer such studies. This college offers BA (HONS) degree program. B.A (Hons.) provides education in business and sports framework. This college offers a three year degree program which enhances the sports skills of an individual.

There is wide scope for the future of sports manager. A sports manger can be employed in a college sports department, in professional sports team, in management firms, sports communication and news media firms. This field provides a lot of options to an individual to go for. According to the handbook from U.S. Bureau of Labor Statistics (BLS), a sports manager is earning near about $64200. BLS also reported that 25% of the sports managers in this field are earning more than $120,290 and business trend for sports is increasing day by day. Due to expansion of this field, the employment will be significantly grown not only in USA but globally.