So 2008 is finally behind us… thank goodness. Or is it? If you listen to the experts, and they’ll make you crazy, you’ll probably hear half of them say the worst is behind us and the other half say that the pain has just begun. Who to believe?
My feeling is that the best way to approach the economy on a going forward basis is to treat it like the worst is still to come. If we continue to practice the fiscally conservative measures that we exercised in the latter half of 2008, then surprises can only be to the upside. However, once we reset our expectations that the worst is behind us, and start behaving as such, we may stimulate the economics that caused negativity once again.
So my New Year’s resolution, aside from being a nicer person, is to extend the no shopping policy from November for 2 more months (January & February).