Better Times Ahead

[Rick336]

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

[Eugene]

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.

[Rick336]

Originally Posted by Eugene

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

[Rick336]

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




Rick

[andrewlittle]

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.

[BruceChris]

Originally Posted by Andy

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.)

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