Tag Archive for 'recession'

Keep Your Change

Published
by
Kristen
on October 15, 2008
in News and Smart Talk
. 4 Comments

Obama’s platform is “change you can believe in.”  McCain promises “change is coming.”

But it seems that change is already underway in the average American’s lifestyle.  According to a study published in Advertising Age, 60% of respondents said they’re more likely to take lunch to the office.  Even more dramatic, 80% of respondents said they’re postponing their vacation plans.  72% will spend less on clothing, 83% less on entertainment… 

It’s no surprise that The Wall Street Journal reported this morning that retail sales dived 1.2% last month – the sharpest drop in three years.

Are you tightening your business’ budget?  Where will you spend less in your personal life?  At a time when the American political front is obsessed with CHANGE, CHANGE, CHANGE, what plans are you making to keep yours?

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Inspired by “Consumers Curtail Consumption.”  By Matthew Creamer.  Advertising Age.  6 October 2008.

Inspired by “Retail Sales Tumbled in September as Producer Prices Fell on Cheaper Oil.”  By Jeff Bater and Brian Blackstone.  The Wall Street Journal.  15 October 2008.

Economy? Econo-YOU!

Published
by
Kristen
on September 26, 2008
in News and Smart Talk
. 10 Comments

It’s the economy, stupid.

And it’s the economy, smarty.

Our nation’s current crisis happens to be a great leveler and whether you dropped out of high school or graduated from an Ivy League, you’re qualified to be hit.

There’s no need to elaborate on the problem here.  If you have a mortgage, stock portfolio, retirement plan, newspaper, job, wallet, then you know what’s going on.

There’s no need to go into the cause either.  Talk radio hosts are pointing enough fingers already.

But why don’t we at least discuss the solution because $700 billion of our money is about to bail out the financial industry.

Congress and the President collectively know a lot about economic trends and political policies.  But who are the real experts when it comes to the marketplace?  WE THE PEOPLE!  It is us, the tax-paying and law-abiding businessmen and businesswomen, who determine how the markets play out, if our organizations will fail or succeed, and whether or not we will make our own American dreams come true.

Will a bailout prevent a lesson from being learned in the C-level suites on Wall Street or the poorly refinanced homes on Main Street?  What happened to the idea of laissez-faire capitalism?

Or do we come together for the common good in a time of crisis and work out a plan to help those in need as a recession will affect us too?  Should survival of the fittest only be applied to Darwinian nature?

The government’s role in our economy is unclear right now.  What should Uncle Sam’s job description be?