Archive for the 'Finance' Category
Say it Proudly – Recession
It’s “official”. The US economy has slid into recession. Reference: WSJ Article.
Wooo, the ‘R’ word has been spoken. The world’s coming to an end. [insert sarcasm]
Of everything financial that has transpired in the past year, this has got to be one of the most annoying and stupidly played series of events I can ever recall. Any PR rep would and probably should have been all over this and snipped it in the bud a long time ago.
I am of course speaking about fear. Self driven fear. Self driven fear of the “terrible” recession.
I do not know why and can only surmise that leaders of our country (political, financial, journalist, etc) believe the act of merely speaking the word recession will drive us towards an actual slump; and thus we’ve been avoiding the term and always saying we’re not in a recession, just “slower growth”. However idealistic those thoughts were only attempted to alleviate the problem instead of treating the root cause.
Let me reiterate one of the most famous quotes in history:
The Only Thing We Have to Fear is Fear Itself, FDR – 3/4/1933 – The Great Depression.
Why is history repeating itself? How ironic isn’t it? I guess stereotypes and clichés really occur because its simply our human nature.
For the past I can’t even remember how many months, virtually every article on every financial website, financial news-outlet, mainstream media, water cooler chat, political debate, and consumer’s thought before making a purchase echoed the words of “we’re heading towards a recession, spending is decreasing, price is increasing, inflation is coming, is my job safe…” What we’re doing is exactly what we’re not suppose to do. We, both leaders and consumers, are spreading and playing into the fear of recession.
No one can expect the economy to turn around overnight. But no one can expect the masses (group-think) to somehow positively react to the all these messages if everything is so negative! If we tell ourselves or get told that consumer spending is tightening and people are worried, of course we’re going to believe that and act accordingly. Placebo effect anyone? We are contributing to our own fear and it must be stopped.
The economy is cyclic. There are always ups and downs; natural (some may argue gov’t controlled) occurring checks and balances. We’re in a recession; we’ve been in a recession; we caused a recession. Let’s say it proudly and get over that. I’m not concerned or arguing how or whether we’ve gotten to this point. I’m talking about how to move on. Let’s now focus on how to re-invigorate the mass public to stop being so afraid to spend, push, use money to create new opportunities (smartly) and get us out of this natural downtown.
Spending money makes money. Let’s stop being so afraid, recognize what the problems are, how we got to this point, and avoid the same mistakes in the future.
Was sub-prime stupid? Yes, human greed caused this ripple effect. Are our foreign policies messed up? I believe so, so let’s fix it. Are there other fiscal issues? Certainly. Can consumer confidence rise soon? It has to – as soon as we stop publishing our worries and negativity towards the economy/market and talk about ways to fix it and the positives happening day to day.
Let’s say it boldly: I’m not afraid. We’re in a recession.
Posted on Thursday, 13th Mar, 2008
Opt out of Credit Card, etc, Offers
Saw this online — verified against FTC. Great way to reduce junk mail and go green.
Verified against: http://www.ftc.gov/bcp/conline/pubs/credit/prescreen.shtm
Posted on Thursday, 18th Oct, 2007
To buy, hold, or sell
New to investing in stocks? Check out what the Wallstreet Journal’s experts had to say about it.
How the pros tell if a stock is a bargain [pdf]
Posted on Friday, 22nd Dec, 2006
Advertising a Country
There comes a point in life when it hits you – the crude distasteful humor generated by stereotyping genres, classically affliated with magazines like Maxim or FHM, is no longer funny. Instead lo and behold, you flip open BusinessWeek and spot an unusual advertisement and next thing you know you’re laughing yourself to sleep while noting that the next morning you must write a blog entry.
Enter the culprit:
Never have I witnessed a country, an entire country, advertising itself on one magazine page – shouting out boldly “We Need Your Money!” Perhaps the world changed and I was too immersed in college to have noticed. Or perhaps this is an out cry for a country left in the dust by an enconomic and political trend favoring east asia.
To what degree will advertisers go to lure the pockets of … well let’s just call them wealthy men and women. What about countries that need economic support and have real issues to worry about instead of silly magazine advertisements – and let’s not forget also bound by contracts through World Bank that have reversed economic progress?
Perhaps:
Posted on Thursday, 1st Jun, 2006
Lucrative Careers (Spring 2006)
Check out these latest expected post graduation $$.
Posted on Tuesday, 9th May, 2006