The Markets Need Hope! Enough of the drum beat of doom and gloom from all corners of Washington and the media. Where is the message of hope and change the was incessantly talked about during the election? We need that message now more than ever or should I say the markets need that message. Yesterday the markets closed at 50% from the high water mark from a few years ago with no end in sight of where the new bottom might be. The markets and consumers need a positive message and hope to get things turned around. The constant message of “things are going to get worse” only exacerbates the problem. MOST important we need fiscal restraint and balenced budgets in Washington that promote small business growth. This is what the markets want to see and what will help get people back to work.
It is easy to understand why the President is not as positive right now. If he says things will get worse and they do…he was right. When they get better…he is able to take credit to pulling us out of this depression. He protects himself on both fronts with a win-win outcome. However, if he preaches that things are going to get better and things don’t turn around or take longer to pull out of this dive people will hold him responsible and he is not willing to walk out on that limb. Leaders are dealers of hope! Our country needs a strong message from the White House and a unified message from Congress that they are working together, putting party differences aside, and putting our country first. This message needs to be loud and clear to the public to put everyone at ease. Then and only then will the markets stabilize, the lemming investors will stop running off the cliffs, and people will come out of their self imposed bomb shelters and resume normal American life of consumption. Okay, maybe not the conspicuous over consumption everyone was accustomed to a few years ago but at least sales of cars, durables, and other items will pick back up. Investors will stop fleeing the market. We need to take the break off the economy and right now Washington and the media have their foot squarely on it with the constant negative message.
Leaders have to make tough calls and unfortunately walk out on limbs from time to time. JFK did when he announced to the world we would put a man on the moon in under 10 years. He sparked hope and confidence in a nation that needed it. President Reagan did when he spoke in Berlin demanding the USSR tear down the Berlin wall. Prime Minister Winston Churchill did during WWII as he inspired a nation with the will to fight Hitler and win. Our markets don’t need more money…they need Washington to work together to a form a UNIFIED message of hope and optimism for the American public and the world at large. Everyone is watching and waiting for this moment. It can’t come soon enough.
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