I saw “Welcome to Hard Times” as a movie title on one of the Western cable channels last night and it really struck me. We certainly are right smack in the middle of some of the toughest economic times this nation has seen since the Great Depression. This makes the dot.com bust look pretty trivial by comparison.
However, I must say that I remain an optimist about this country’s future. While things may get worse before they get better, I firmly do believe they will get better. We Americans are a creative and entreprenurial folk. The old saying about how “when one door closes another one opens” has always proven true for our country as a whole.
I can see that we are in for some real changes with health insurance and health care services and I would be lying if I said I wasn’t nervous about how this may all effect my business and my family. However, I am hardly alone in facing tumultuous times.
Some of my clients in the construction, automotive and mortgage industries have already been impacted – some like a jackhammer. When you take into account all the retail and service jobs that rely in some part on those companies to help drive their revenues, you can see how the money multiplier effect has regressed into a money division effect.
So, why am I still optimistic? Because we Americans are survivors and we will adapt and find new opportunities, even in times like these. Industries will be transformed, jobs will shift and there will be struggles. Today’s losses will be eventually become tomorrow’s gains, for those blessed with the vision, energy and resources, and true grit to get the job done.
I am confident that America will latch onto concepts like Green Energy to develop new technologies that can be marketed to the world. This could propel out country back into prosperity, much like the advent of personal computers and then the Internet did in previous years. Colorado in particular is blessed to have a very well educated and innovative populace. Perhaps Denver, Boulder or Fort Collins will become the new Silicon Valley for green energy.
I am confident that more power will be given to industry regulators to stave off any future time bombs like Credit Default Swaps. Perhaps even Wall Street will learn that there is value in encouraging companies to look beyond the next quarterly earnings report and focus on long term gains as opposed to short term profits.
This is a great nation and our best days remain ahead of us. Carpe’ diem – Seize the day!!
What do you think? Your comments and opions are most welcome.