Here we are almost two months into a new administration and the snowball is still gathering speed. The economy just keeps getting worse. Regretfully, we do not appear to be close to yet hitting bottom. The reasons I cited five months ago in my series as to why I expected this downturn to be severe and long lasting become ever more apparent. Yuk! Yuk! Yuk!
Those looking to Washington for a solution could be in for a long wait. Our President's financial team is doing little to inspire much confidence. Every day, I become more concerned that Treasury Secretary Geithner has been unable to get his senior team in place. Adding to that disability, the press reports that National Economic Council Chairman Larry Summers learned little about controlling his immense ego from his relatively short tenure as Harvard President (I am not in Washington so I can't know for sure if the press reports are correct, but anyone who would let himself be proposed as the Economic "Czar," as Summers did, certainly is suspect for having a major ego problem). And, reportedly Paul Volcker is not really being listened to. Already some pundits are referring to the liklihood that the gang will beome known as "the gang that couldn't shoot straight."
Let me be clear. Solving this world wide economic problem is beyond the capabilities of any one person. Teamwork is needed every bit as much as raw intellect. And, we all know that teamwork is not something for which Washington is known.
So, does that mean I expect the end of the world is near? Hardly!
I continue to believe that each and every one of us has the capability to chart a personal plan for prosperity. The best course of action is the one that I learned from Outward Bound many years ago, self rescue.
From time to time, I report the bad news on this blog so that readers will get the message of how important it is for individuals to promptly take the right actions. If one thinks that a turnaround in the economy is imminent, one can be lulled into inaction.
The vast, vast majority of my posts are positive stories of individuals who are leading the way through their actions. The recently concluded series on people who "get it" is a composite of men and woman, from a variety of vocations, who are taking actions to help themselves and to help others to prosper. And, my earlier series on Lessons from the Masters likewise shared tips from some very capable thought leaders.
I am a huge believer in the strength of the human spirit.
I believe we are in the early stages of the latest reinvention of our economy here in the United States. Those individuals and companies that embrace this reinvention will prosper.
Those that fight this reinvention are likely to suffer long and hard.
The choice is yours. I choose to embrace the reinvention. I hope you will do likewise.