Better Times Ahead
 

From Yahoo News:

"A group of financial wizards looked into their crystal ball Tuesday and saw some good news.

The recession will ease by the end of this year and companies will begin adding workers, signaling the end of the worst economic downturn since the Great Depression."


Read more here -->http://finance.yahoo.com/news/Financ...-14734171.html


Rick

If I've learned anything in the past year, it is that financial wizards don't have functioning crystal balls. Even among those who predicted a severe downturn, there was a substantial difference in what they predicted and what occurred.

You're right. But still, if I've learned anything from the news media, it's that it's rare to see them report any good news. So when they do, I pass it on.

Rick

More good news! ----> http://www.usatoday.com/money/econom...terstitialskip




Rick

Pessimism, at this point, could prove to be a self-fulfilling prophecy.

A key factor in recovery is responsible spending - spending with mostly cash and little credit.

Attitude governs how we spend - pessimistic = holding on to cash, optimistic = spending some of it. There are huge numbers of unemployed out there whose near-term future depends, somewhat at least, on the rest of us daring to tackle our fears and be optimistic enough to buy the things we need and realistically want. Employment will lag behind, but will respond to purchases increasing as retail, manufacturing, logistics and service sectors get busier again.

While I tend to hate the fact that optimism is starting with those who earn $90,000 or more a year, these are the people who are likely to kick start both retail sales and investing. The rest of us, to some extent, are dependent on them being positive.

Of course, if you want things to fail, keep preaching doom and gloom to the broadest possible audience.

Andy, a slight disagreement here.
 

While it may be true that those making over $90K/year undoubtedly spend more money per capita than the rest of us peons do, us peons have two overwhelming, dominant advantages here:

First, there are more of us;

and second, we always spend all that we have anyway.

(And third, we need the money more than they do!)

Namaste', Bruce Chris

The preaching of doom and gloom is a time-honored Judeo-Christian practice. Jeremiah comes to mind.

Does that apply to private citizens only?

I don't go in for radical gloom and doom. But optimism can't ease legitimate concerns about trillion dollar deficits and monetization of debt. Neither of these is a good thing.

Give me a break. Things will improve. Deal with it.


Rick

Think so, huh?

Yes, things always improve, given time.

As for dealing with it, you and I and everyone else will be dealing with the financial mismanagement of the American economy for years to come. Either taxes will increase drastically. Or the dollar will devalue to the point of making these unbelievable deficits both believable and manageable. Or both. Or some entirely unforeseen thing will happen that changes these predictable outcomes of status quo.

I'm so glad we have a President who's considered a friend of the gay community. But I'm not yet dim-witted enough to believe disastrous economic policies are acceptable when coupled with constructive social policy. That's just the reverse of the evangelical mindset -- any bad policy is acceptable given that a President opposes gay rights and abortion.

Of course we'll have debt. But that's the necessary price we now have to pay to get us out of this deep financial hole that it took eight years to dig. Deregulation created runaway greed and irresponsible money managing that has resulted in the worst economy since the Great Depression.

But, if you think things are bad now, just imagine what the mood of the country would be if instead of Obama,....McCain and Palin were in charge. :eek:

Obama is telling the nation that we better get our s**t together if we're going to get out of this mess. And the nation is getting the message. 61% of the nation thinks Obama is on the right track. And the positive mood of the nation has jumped from from 17% to 30% in the past few weeks. Home sales and factory orders are beginning to creep up again.

I can't predict the future, but I'd be willing to bet that Americans will see an improvement in their lives in the next few years. How about if we meet back here at this very spot on March 29, 2010 and see how things are then. Then we can continue this conversation.

Rick

From USA Today News:

"So what's the most important thing he has learned in trying to fix the economy?

He says it isn't the risk that the government does too much. Instead, Geithner says it's the risk that the government does too little to try to help solve the financial problems.

"Geithner says the financial markets cannot not solve all those problems — it's up to the federal government to act and that's what he says the Obama administration is trying to do.

Geithner also passed along a message for Americans worried about the economy: Be optimistic about the future of this country."



Read the entire article here --->http://www.usatoday.com/news/washing...-economy_N.htm


Rick

More good news

Yahoo News:

WASHINGTON – New signs that the recession could be nearing a bottom emerged Thursday, as factory orders were far better than expected and the Dow industrials surged over 8,000 for the first time in two months.


Read here ---> http://news.yahoo.com/s/ap/20090402/..._ec_fi/economy




Rick