The sky isn't falling.
I’ve heard a lot of friends lately talking about the state of our Canadian economy, and the utter disaster looming for our American counterparts.
And, yes… I do agree that we’re coming into harder times. But, life as we know it doesn’t stop, does it, just because our economy is recessionary? It’s not like this doesn’t happen every 10 years or so — Corrections happen. Recessions happen, too.
Will we have to work a bit harder to gain new business prospects and keep our old ones? Yes. Will all business come to a screeching halt because of our economic situation? No.
I want to scream: “Stop panicking, people!” — Of course we’re going to go on a sickening roller coaster ride with our stocks if people go to the extreme measures of cashing out because the stocks drop 600 points in a day. Just stop it. Go to your job, work hard, and wait it out.
Because it’s going to get better… It always does.
Macross
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Oh Yes, we will all be doing our daily commerce. The Money will not shrivel up and disappear–only if you want to borrow it.
As long as you do not owe the Bank any money, i.e., credit cards, personal loans, line-of-credit, then everyone should be OK. If you like your credit cards, and you carry a balance, you’ll pay. Debt will be your enemy.
I think the markets will rebound in 2 to 3 quarters, but inflation might take us on a 1980s style ride in the meantime. R.R.S.P.s like volatility–but if you got the cash–well hang on to it for while.
…but I’m not an economist.
It’s been a while since I posted here. Time sure flies….
Hey Tom!
I haven’t seen you around there here parts in a while… Thanks for stopping by!
I totally agree with you! Debt is the enemy these days.
My sentiments exactly. Actually, those in the tech and online field seem to be particularly secure, if not quite recession-proof. Technology’s raison d’etre is to make our lives more efficient. Businesses are going to be looking to create more efficiencies to help them weather this storm. They may not be making major capital investments, but I doubt we’ll see a huge crash in the business of SEO experts and tech products.
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