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| RELUCTANT SUN |
We are having a reluctant spring. I am tempted to say fearful, but that would be overly anthropomorphic. In any case, our spring in the Northland mimics our collective mood; reluctant, hesitant, fearful, confused. Business mimics our spring, I think it fair to say. People are afraid to commit to a deal, even if it is a bargain. Many of my customers are putting off a project, rather than spend the money now, and I don’t see the economy coming out of this recession any time soon.
Standard and Poors’ threat to downgrade our US credit rating is going to push inflation even faster. If we aren’t careful we will back ourselves into a full-blown depression.
There are a lot of parallels between the 1930’s and the present; a moral hangover from high times, massive public and private debt, high stakes economic gambling, bloated and intrusive government, over regulation of almost everything, the diminishing of the individual by government and politicians, unbridled class warfare. We need clear thinking and positive leadership, and we need to stop demonizing each other. It will take all of this and more for an economic spring to emerge.
I really don't believe people here in the US have a single clue what is coming.
ReplyDeleteOur dollar is weak it doesn't buy that foreign oil very well. We are wasting more then ever.
I see we used 20 million barrels a day in 1960 and today (2010) numbers are 85 million barrels of oil a day.
India and China has really raised world demand. This is all different then the past. This isn't a 1974-75 crisis.
This will be the real deal and I'm guessing prices won't go down like the past. We will have to adjust our lives
and make big changes. But of course I really don't see American's doing that. We have that entitlement that the
world owes us a living and a big house and big cars are our birth rights.
Can you say double dip recession?
Pay off all debts and start living like your Grandfather.