For those of us who have been paying attention to the stock market, we can say that things are stabilizing a bit. Just a bit. Despite the threat of the swine flu, the markets and surprisingly, consumer spending are coming around to repsectable and less frightening levels.
Sure, we still have an unemployment rate over 8%, which we have not seen since the ’70s, but it’s like I have been saying that what is happening in this new economy is suppossed to occur. I wrote a blog back in December or January about how we must all get used to living as we did back in the ’70s, minus the disco.
We might be experiencing that right now.
Wall Street experts are saying that the market might be stabilizing amid relatively decent consumer spending numbers. The housing market seems to be stabilizing as well with better than expected sales numbers for February and March. And the best news of all is that the stock market is also performing better than expected under these circumstances.
We cannot forget that there are Americans that do not have jobs and there are Americans losing their homes. Unfortunately, business, capitalism and the economy do not pick their victims. There will be losses and there will be gains in any economic environment, where these days, (thanks to the scary media) we only hear and feel the bad things.
There is a light at the end of the tunnel. We have to decide who we are going to be in this new economy.