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Getting a grip on recession talk
Paul Samuelson, Nobel laureate, said, "Economists have accurately predicted nine out of the last five recessions."
What’s the point? In a recent seminar of 18 salespeople—16 industrial and 2 construction—the industrial salespeople said their business was fine and the construction salespeople said their business was tough. That pretty much sums up the economy. If you’re in industrial sales and tied into exports, you’re probably okay. If you’re in the construction industry, you’re hurting.
This will probably continue as long as the dollar remains soft in the global economy. Exports are pumping fuel into our economic engine. We don’t know if we’re in a recession without looking in the rear view mirror. All the experts have opinions right now, and you can find many lining up on either side of the recessionary issue.
Getting a grip on recession talk
May 20, 2008
Paul Samuelson, Nobel laureate, said, "Economists have accurately predicted nine out of the last five recessions." What’s the point? In a recent seminar of 18 salespeople—16 industrial and 2 construction—the industrial salespeople said their business was fine and the construction salespeople said their business was tough. That pretty much sums up the economy. If you’re in industrial sales and tied into exports, you’re probably okay. If you’re in the construction industry, you’re hurting.
This will probably continue as long as the dollar remains soft in the global economy. Exports are pumping fuel into our economic engine. We don’t know if we’re in a recession without looking in the rear view mirror. All the experts have opinions right now, and you can find many lining up on either side of the recessionary issue.
Posted by Tom Reilly on May 20, 2008 | Comments (0)
Industries: Sales & Marketing
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