Community Corner
Do We Really Need to Be Afraid of Another Recession?
Here is U.S. News and World Report's Chief Business Correspondent Rick Newman's take on the issue.
Debbie’s Dose of Food for Thought
“The secret to life is to know when enough is enough.” Dr. Vincent Ryan
Last week I heard CBS radio’s Pat Farnack talking with Rick Newman about the state of the economy. What he was saying made sense and made me perk up my ears. According to his post “Why Recession Fears are Overblown,” there is hope. Here are a few reasons why “fears of a fresh recession are overblown.”
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Many of the Larger Companies in the United States Are in Good Shape
Bigger companies are no longer dependent upon one economy due to globalization and many are ready and willing to hire once business picks up.
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Stocks Are Up
It’s been a bull market, up roughly 80 percent since the low of March 2009.
Paying Down Excessive Debt Has Been Underway for Some Time
Rick states that “Most bubbles have already popped” and the worst is behind us. The government debt is an ongoing issue but has been for awhile.
The Federal Reserve Could Step In Again
If necessary, the Federal Reserve could once more use “quantitative easing” to help stimulate the economy and ease psychological worries.
“Volatility is The New Normal”
Our economy is evolving as new jobs and careers replace old ones. In addition, “debt-triggered financial crises, like the one we just endured, take a lot longer to heal than more conventional recessions caused by business-cycle ups and downs.” It’s a bit like being on a roller-coaster and it seems like the best thing to do is to relax, proceed with caution and go along for the ride.
If you would like to read Rick Newman’s full article, click here.
