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Watch out—we can talk ourselves into tough times
The stock market is crazy (crazy good and crazy bad), banks are suffering the effects of bad loans and the media grubs this stuff up and serves it to the public as a daily dose of doom and gloom. The problem? Some people start believing we’re headed for another recession. Heck, I’m writing about it.
I work across industries and the only soft spot I see right now is housing starts, but housing retrofit and rehab is a boom business. The auto industry always has soft spots, so if it’s down that’s not news. Harley Davidson is shutting down for two weeks to control supply so that demand can catch up. Having worked in that industry, I know that it always slows down this time of year. RV sales are down. Hello! Oil is at $100 per barrel.
There are some soft spots, but this is not a soft economy. The majority of industrial suppliers I work with are selling plenty of stuff. Why? People in the United States are still spending and exports are soaring. With the dollar down, our goods look great to foreign markets. Tourism is very attractive to foreigners looking at the United States.
My point? I try to practice a simple rule when the bad news bears are spewing their cynicism: Is it news or noise? There’s a lot of noise out there these days.
Watch out—we can talk ourselves into tough times
November 28, 2007
The stock market is crazy (crazy good and crazy bad), banks are suffering the effects of bad loans and the media grubs this stuff up and serves it to the public as a daily dose of doom and gloom. The problem? Some people start believing we’re headed for another recession. Heck, I’m writing about it. I work across industries and the only soft spot I see right now is housing starts, but housing retrofit and rehab is a boom business. The auto industry always has soft spots, so if it’s down that’s not news. Harley Davidson is shutting down for two weeks to control supply so that demand can catch up. Having worked in that industry, I know that it always slows down this time of year. RV sales are down. Hello! Oil is at $100 per barrel.
There are some soft spots, but this is not a soft economy. The majority of industrial suppliers I work with are selling plenty of stuff. Why? People in the United States are still spending and exports are soaring. With the dollar down, our goods look great to foreign markets. Tourism is very attractive to foreigners looking at the United States.
My point? I try to practice a simple rule when the bad news bears are spewing their cynicism: Is it news or noise? There’s a lot of noise out there these days.
Posted by Tom Reilly on November 28, 2007 | Comments (1)
November 30, 2007
In response to: Watch out—we can talk ourselves into tough times
Randy commented:
In response to: Watch out—we can talk ourselves into tough times
Randy commented:
Tom.... You are right on. We hear a lot about consumer confidence dropping yet the malls were full on Black Friday, you can't get into a restuarant after 5:00 and the highways are packed with cars. If things are that tough why are we shopping, eating out and doing so mucg travek when the price of gas is over $3.00? Does the stock market being off and bad mortages really hurt the average guy Joe who is secure in hs job? The answer is no, but you are right on, tell him that things are bad long engough and starts to believe and stops spending, etc.
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