We are back at the same place we were about a decade and half ago- its all about the economy. Many folks in their working lifetimes have not faced this scenario- a recession, slowing growth, rising gas prices, falling home prices and job losses- it a tough US economy and will be for at least a couple of quarters, if not more.
There are three things are slightly surprising about the current scenario. One- very few saw it coming. Even the very best at Wall Street felt that the sub-prime crisis was fairly well contained but is becoming increasingly evident, that was not the case. Two- the Fed has been slow, first to pull down interest rates, and then, call it a recession and take necessary action. Third- the political landscape still seems to ignore the reality facing the average person in the US. The sooner the statesmen realize that its all about the economy, the better it will be for the 2008 Presidential campaign that is sounded trite and jaded even before the actual action has begun in the true sense of the word.
The only way out is through severe belt tightening- my promise to lose some weight may finally carry both a literal and figurative meaning!!
Not everything is severely gloomy though. The global economy continues to grow well and the basic fundamentals of the American economy are still very strong. The war needs to end, there needs to be an economic stimulus, manufacturing domestically needs to improve and Service sectors need to look for value add without completely wiping the customer's wallet. It will be tough but not impossible.
I have hope and and while hope itself is not a strategy, positive visualization goes a long way in moving energy in the right direction and thats all that is needed right now.
Lets press on...
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