No Pessimists Allowed!
Slate

For all the advances of information technology, big economic turns always take us unawares. In 2007, all indicators flashed green—until the bottom suddenly fell out. In this environment, things can look awful, until a new order unexpectedly comes in or a few deals break in your firm’s favor. All of a sudden, things seem much better. We’re in a Missouri economy now, one in which recovery has to be shown, not told. Economic conditions may be improving, but it still may take more than a few quarters of growth before people fully commit to recovery, both financially and psychologically. If credit means belief, since the credit crisis began two years ago, belief has been in short supply. Maybe it’s time for a little blind faith.

A little too ‘goldilocks’ to me, but keep an eye on the personal savings rate to see where 2010 economy is headed.

Advertisements