Posted by Barry Lauterwasser
Having lived through the Jimmy Carter era, and enjoyed the boom of Reaganomics, and having studied economic history at University of Louisville, I can tell you this. Our economy has always been, and always will be…cyclical.
That means that the boon days can’t live forever, neither can the depression… Which is why I can remain positive about our economy. It has always been the dominant economy in the world, and always will be, until other countries can duplicate our capitalistic system, and deal with the fallout, and education process that it brings.
So while the evening news no doubt will now start to beat the recession drum again remember this…we’ve been through much tougher times, and our economy has bounced back. This may be a time to spend more money on groceries than eating out, but as long as we are consuming, there will be jobs. And as long as there are jobs, there will be consuming. The equation is a simple one.
70% of our economy is consumption based. So if we continue to consume, we’ll be ok. Don’t judge your actions by what happens on Wall Street. What goes on there has very little to say about the state of our economy. It’s emotion-driven reaction to stock brokers trying desperately trying to make us rich in our retirement. They focus on short term results, we need to keep our eyes on the lighthouse far away, and not be swayed by the evening news that tells us we’re going to hell in a handbasket…We’re far better than that.
Keep it positive!!!