Looking Forward
March 16, 2009
When things go awry, there seems always to be a search for who or what is to blame. An article in the February 23, 2009 issue of Time Magazine had a featured article entitled "25 People to Blame". It is an interesting list of men and women who once held great power over governmental and financial institution. Not all the folks on the list are Americans - Iceland and China partook of the free wheeling days of high expectations and financial innovations.
After these many months of finger pointing and of the favorite quote of the new administration, "We inherited the crisis", lets suggest to our representatives and senators that they look more for solutions and less for blame.
Whether the stimulus packages will work remains to be seen. All that money certainly should make an impact on something. Hopefully it will be on creating a sound economy. Bernanke in an interview aired yesterday on CBS' Sixty Minutes, felt that there is light at the end of the tunnel and that by later in 2009, credit markets should be functioning as they should in a capitalistic economy. I must say that the interview was heartwarming to me as Bernanke came across as a bright and practical man.
The two areas to watch for signs of stability are the financial (banks) and the housing markets.
As a practitioner in the Inland Empire the housing arena, there are signs of "Spring" in the housing market. Sales are up. Interest rates are good and prices are very affordable. The sequence in normal housing markets begins with first time buyers, then homeowners who wish to sell and buy. Banks are making loans to qualified homebuyers. Solving the job loss trend and the negative equity issues will go a long way to continuing the market stabilization.
Since the American consumer is one of the folks on the "Blame" list, the American consumer needs to be part of the solution.
If you are interested in the "Blame" list you can go to http://www.time.com/
When things go awry, there seems always to be a search for who or what is to blame. An article in the February 23, 2009 issue of Time Magazine had a featured article entitled "25 People to Blame". It is an interesting list of men and women who once held great power over governmental and financial institution. Not all the folks on the list are Americans - Iceland and China partook of the free wheeling days of high expectations and financial innovations.
After these many months of finger pointing and of the favorite quote of the new administration, "We inherited the crisis", lets suggest to our representatives and senators that they look more for solutions and less for blame.
Whether the stimulus packages will work remains to be seen. All that money certainly should make an impact on something. Hopefully it will be on creating a sound economy. Bernanke in an interview aired yesterday on CBS' Sixty Minutes, felt that there is light at the end of the tunnel and that by later in 2009, credit markets should be functioning as they should in a capitalistic economy. I must say that the interview was heartwarming to me as Bernanke came across as a bright and practical man.
The two areas to watch for signs of stability are the financial (banks) and the housing markets.
As a practitioner in the Inland Empire the housing arena, there are signs of "Spring" in the housing market. Sales are up. Interest rates are good and prices are very affordable. The sequence in normal housing markets begins with first time buyers, then homeowners who wish to sell and buy. Banks are making loans to qualified homebuyers. Solving the job loss trend and the negative equity issues will go a long way to continuing the market stabilization.
Since the American consumer is one of the folks on the "Blame" list, the American consumer needs to be part of the solution.
If you are interested in the "Blame" list you can go to http://www.time.com/
posted by shirley harry at 8:03 AM
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