The Economy

Who knows what the future will bring? A year ago, I was sharply critical about the government's actions and the media's response to the financial crisis that was just starting to hit. My feeling was that the government should do things to inspire consumer and investor confidence and that the media should be wary of portraying a slightly down economy as the next coming of the great depression. Look where we are today. Consumer confidence has steadily declined over the last 18 months, investors have fled from the market, and the media is still talking about how this is the next Great Depression.

No, the economic layout is definitely not rosy. No, we have not yet hit rock bottom. Yet, we need to take action to move things in a positive direction. Shore up our ailing banks to ensure that no more go the way of WaMu and Wachovia. As much as I dislike Bush and the way that he has led our country for the past 8 years, there is one quote of his that I feel is appropriate for times like this. "We must take swift and decisive action". With those words we have made more blunders with the international community than probably any other 7 words in the English language. Yet, in these circumstances, particularly at this time of year, we must act swiftly and decisively to restore confidence in the system. Now, in the 4th quarter, retail outlets nationwide are expecting lower than usual spending for the holiday season. Some companies use phrases like "1 day in December equals the month of May" to describe the importance of holiday shopping. If the American public continues on in fear, this holiday season could be disastrous for business. And what's bad for business, in this case, is bad for everyone.