Entries Tagged 'Financial Recovery' ↓

In my photograhy business I do a lot of work for manufacturing companies. One thing I have noticed since July is that I am getting hired more often by manufacturers. They are still really watching the bottom line. In fact, they are going direct to vendors like me instead of working with an ad agency or graphic design firm. That’s a real shift, but the numbers point to a slow recovery overall. Certainly this is reflected in the stock market’s performance last week and in growing consumer optimism. September was down from August, but it is still expanding as opposed to the contraction of the 18 months before August. Get more details.

I’ve been a Democrat all my adult life and was happy to see Obama get elected. But I am beginning to wonder, especially considering where the money is going. I sat down to dinner with a group of business leaders Tuesday night and it was not a happy discussion. The bottom line is that the money is not getting down to the people. The economy will not really revive until ordinary people have the money to buy things. Now I know that a lot of people have said this, but giving money to big banks and insurance companies is not the way to get money in the hands of consumers. Not only that, I think this new idea of allowing people to refinance their mortgage at up to 125% of the value of the house is just more of the same: the consumer falls further into debt and the banks get the money. Maybe, just maybe, Geithner is the wrong man for the job. Maybe his first priority is rebuilding the banks instead of rebuilding the economy.

Rather than continue with the story provided by my financial advisor, I found a better explanation in Sunday’s New York Times. What’s good about it? I believe it is more accurate and it gives some hints about the recovery. Speaking of recovery, I plan to spend a lot of time on promoting your business and making sure that you prosper during this recession. Here is the link to Alan S. Blinder’s article.