I just read a story that was posted on line this afternoon of January 8, 2010
U.S. Job Losses in December Dim Hopes for Quick Upswing
Were you hoping for a quick upswing? Is that what everyone really wants? There are a so many people who continue to suffer the effects of the Great Recession of ’08-’09. And what I (along with just about everyone) would like to see an increase in available jobs. But I am far from certain that seeing a huge spike in jobs at the end of this (or next) month would A) signal that things are turning rosy or B) be the catalyst to coming years of prosperity for a majority of Americans.
While I am optimistic that the worst is over and that better days are ahead in no way do I feel that a return to the ways of the recent past (fast bucks and conspicuous consumption) will benefit hard working Americans. I like to think that we have all learned some very important lessons over the past few years but it is a known fact that history seems to repeat itself and I am very concerned that any short term job, income, and home sale spikes might lead people to believe the good times are ready to roll once again.
Don’t get me wrong, I hope that his could possibly happen but I also know that hope is not a strategy. If slow and steady wins the race, be wary of getting too high when there is better than expected news and don’t wallow when the news is not as good as ‘experts’ hoped.
Small businesses will lead the overall recovery. Until small businesses feel good about hiring new employees and entrepreneurs feel confident enough to start new businesses (often this happens as a result of a recession) any steps forward will likely be followed by a few steps back. And that’s not a bad thing as far as I see. A steady, sustainable recovery will be a calming influence for me and when I see allusions to desiring quick fixes and shots in the arm I get a queasy feeling in my stomach that a sequel to a bad movie is in production.
I’m no economist yet it should not take one to figure out that a recovery with the foundation of a wet paper towel is precarious to say the least. Hopefully we’re all a little smarter and a little more wary of things that appear too good to be true.
We’re in it for the long haul aren’t we?