Ross A. Hill: Is The Economy Getting Worse?

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Wednesday, September 29, 2010

Is The Economy Getting Worse?

I get this question almost daily.  In fact, one of my board members asked me this question earlier this week. I think the answer is YES.  What do you think?

Today, one of my long term customers came to see me. He told me about his business and told me things were very difficult.  Just a few years ago they were doing very well.  Now, things are different.  Times are tough and not getting better.  It was hard for him to tell me and It was hard for me to hear it. I care about him and his family.  It was hard to see him hurting, hard to see him scared. He was hoping I could help him.  I sure want too and I hope we can figure something out for him.

One thing I did do for him was pray for him.  I believe God can change his situation and I pray God will bless him.

Here is one principal that I believe strongly.
"It takes twice as long for the country to recover from a financial recession than it took to get there." -Ross A. Hill
So, what does that mean for you and me?  We have now been in this financial recession for over 2 years. Just recently the U.S. Government announced that the recession is officially over.  Do you believe that?  So, if they are right, sometime in the past few months we turned the corner and are crawling out.  There is a long, long way to go before things return to normal.  Be careful, conserve your cash, pay your debt down, cut your expenses, don't take on new debt. Be conservative.


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