Will The Recession Come to an End
photo credit: R i c h a r d
We are all wondering the same big question….when will this recession come to a final end? We are all sitting around hoping, praying and looking to the government and our new president to tell us when this will be all over. On Tuesday chairman Bernanke put thing’s into somewhat of a perspective for us.
Mr. Bernanke stated that a full recovery for the recession is at least a full year away still, and that is only if things go exactly as planned right now. He stated that if the government, congress and federal reserves actions are to go as planned then 2010 will be our year of recovery. Can we wait that long? Will there be small steps of help during this year to get us by?
Mr. Bernanke acknowledged there was a risk that the economy would become even worse than the Fed is currently forecasting. The global nature of the economic slowdown, as well as a “so-called adverse feedback loop” — the idea that economic and financial conditions become mutually reinforcing — threaten to delay recovery, he said.
Mr. Bernanke stated that it was a wise decision to keep bailing out all of these large companies, that if the government had just let them be and held them totally accountable for their mistakes, that by time they learned their lesson the whole sector of their business would have gone down first.
What are your thoughts on the hope of recession being over by 2010?
SEO Software on April 9th, 2009 8:09 am
I’m not sure about *by* 2010, but I’m confident that *in* 2010 it will begin an upswing
Dennis on April 9th, 2009 4:11 pm
The same people who couldn’t see it coming are now equipped to see the end? Please. If he is right, he is lucky.
Matt on April 10th, 2009 9:29 am
“We are all sitting around hoping, praying and looking to the government and our new president to tell us when this will be all over.”
Uh- what??? If this is your strategy you are not an entrepreneur and please don’t include those of us who are (most readers of this blog I would expect) in your “we” statement! The last thing an entrepreneur does is sit around and hope or wait for other people to bail us out- particularly an entity as slow and none entrepreneurial as the government. The whole nature of entrepreneurship is to take action and be your own agent of change not sit on your duff waiting to be rescued. Please.
Barry Long on April 10th, 2009 12:44 pm
It is highly optimistic indeed to expect us to springboard out of our global economic woes within the next 12 months, as we haven’t even started to see the bottom or end of the downturn.
The fact that we are not just dealing with a national recession, but a global one, makes it all the more difficult to predict or forecast when things will improve. Expecting a ‘miracle’ cure from any national government is mere folly.
I’m just glad I got involved in MBE-bartering a long time ago to help keep by business afloat. We all need to take individual action to help things improve (much of this can be done by keeping a positive attitude) If there was more confidence in the words of our leadership, and people felt it safer to conduct normal commerce, we would slowly begin to move in a better direction.
Sadly, I feel we have a lot further to fall before the end is in sight, and that is only if nothing else happens (be it another financial scandal, terror attack, or whatever!)
Donald on April 14th, 2009 4:53 am
I think 2010 is an optimistic projection, to say the least. That said, these difficult times are forcing small business owners to trim all the fat off of their business and I think that is one healthy development to emerge from all of this hardship.
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