Are We Talking Ourselves Down the Slide?
Come to Us for Central Massachusetts Commercial Real Estate
Do you spend a lot of time lately talking with friends, peers, even strangers about how bad the economy has become and how much further it has to go? Do you hear the "talking heads" on TV echoing these same thoughts? Do you talk with anyone who sounds up beat about the economy these days and suggests that the recession will be brief and not hurt anyone? OK, maybe that goes a little too far. But my real point is to ask if we're talking ourselves downward in a constant spiral.
This is not to be a Pollyanna, but neither should we be a "chicken little" constantly crying that the sky is falling. Let's face it, we're in a recession, it has a while longer to run and more people truly will be hurt. What I believe is that there will be an end to this cycle, business will settle for a short time and then begin to improve. If you accept that, is it time to begin preparing now for the next stage in the business cycle?
I can recall Jimmy Carter's speech when inflation was beginning to increase. He said, "Folks, we've got to stop using our credit cards". And we did. And we went into recession.
The last two recessions lasted about eight months each. They ended when consumers began to spend again. Right now, consumers are sitting on their pocket books and waiting for someone else to begin the new cycle.
Wouldn't it be beneficial if our leadership used some positive rhetoric to enthuse us rather than a constant stream of downbeat news? And wouldn't it also be helpful if consumers used the reverse Jimmy Carter logic and began to bring out their credit cards and bought cars, household appliances, homes and other durable goods?
What are your ideas on how to turn the talk, to bring out the credit cards and get people to feel more comfortable about investing in things they really want to buy now?
This article contributed by Robert Yale, CCIM
Your Number One Choice for Central Massachusetts Commercial Real Estate