First, a small quote from the book “FREAKONOMICS,” by Steven D. Levitt and Stephen J. Dubner; (pag.67 ¶ 2):
“Information is a beacon, a cudgel, an olive branch, a deterrent, depending on who wields it and how. Information is so powerful that the assumption of information, even if the information does not actually exists, can have a sobering effect.”
It’s amazing how many opportunities are out here, yet people don’t have the confidence, knowledge, resources, or desire to take advantage of them.
I see a recession coming, which will be felt by most of the population, excluding the very rich class. For one, with the Federal Govt. spending so much money today, once the cash cow dries up (which appears to be sometime in early ’06), many people and businesses will struggle on their own. Also, with inflation creeping very quietly, too many people will get caught-up in the big squeeze – too much debt, no savings, and interest rate on their ARM’s increasing to the point where they’ll either default or sell at a loss. Goodbye to those profit gains on Real Estate!! All this will be happening in the shadows of increasing energy prices, and a job market where employers are looking for highly skillful and experienced employees. Other types of jobs will be plentiful, but they won’t pay enough to keep up with inflation, and to sustain people’s current lifestyles.
And for those who are working on sales and commission, the troubles will be just as bad (if not worst), since they don’t have a clue of what’s coming, and are continuing to spend big, thinking that the year-end commissions will cover the cost. The Auto industry sales (which are shrinking real fast) are an indicator of what’s shaping up in that field.
The holiday season, and year-end spending will be okay, mainly because people are creatures of habits, and they’ll be able to spend big during the period, despite the fact that there’s no money. Credit cards and loans will leverage their spending, as companies look to capitalize on fees and interest rates, and consumers will finally reach the bottom of the pot, beginning ’06 in very bad shape. Only those who adjust and prepare for what’s to come will be clear of the big squeeze; otherwise, it will be depressing and “DESESPERANTE.”
The job is never finished,
GX
