9NEWS brought in a trio of financial experts on Wednesday and asked each of them questions that might be top of mind right now in your household.
Al Woodward is with Woodward Wealth Management, Anita Padilla-Fitzgerald is with MegaStar Financial Corp, and James Mejia is a former candidate for Denver mayor and current head of the metro-area Hispanic Chamber of Commerce.
Their answers are sometimes radically different, but that is likely just symptomatic of the nationwide debate as well.
First question: Are you worried about a double dip recession?
Woodward: "I think we're already there. A good two-thirds of the people of this country are directly involved in an adverse way with this [economic] correction."
Padilla-Fitzgerald: "I think we're status quo right now. It could go either way."
Mejia: "I think we've abated a double dip. I can't say that a double dip won't happen. There has been a major correction throughout our community."
Second question: How long will a recovery take?
Mejia: "I think we're still looking at several years in terms of a complete recovery, but I think there are reasons to be optimistic about that."
Padilla-Fitzgerald: "If we can work together, stay positive, take the jobs that you need to take and take care of your family, I think the recovery can be as short as a few years."
Woodward: "The recovery cycle which is normally three to four years is going to be seven to 10 years [now]."
Third question: How would you rate the economy right now on a scale of 1 to 10?
Mejia: "Seven or eight."
Padilla-Fitzgerald: "Between six or seven."
Woodward: "Minus two."
Fourth question: What economic indicator would you look at to offer a hint of recovery?
Mejia: "I would look at employment."
Padilla-Fitzgerald: "Employment."
Woodward: "Unemployment is critical."
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