Secrets to Survive If it is 2 Years Before the Economy Bottoms and Rebounds
Harvey Pitt, former chairman of the SEC, stated that it could be up to 2 years before the economy bottoms and then rebounds.
At the same time, Christina Romer, the head of the White House Council of Economic Advisers, says she is "incredibly confident" that President Obama's stimulus program will begin bringing the nation out of recession within the next year.
What does the former head of the Securities and Exchange Commission (SEC) know that the current Administration does not know? It has always been difficult to make business decisions when the information needed is either sketchy or of questionable accuracy.
The greater the uncertainty, the more difficult that process is.
Where this economy is going and in what time frame is an immensely difficult decision.
It would be invaluable to know what the smart money really thinks.
Who do you trust and how do you decide which source has an agenda in the statements they make, sounding like facts? After all, many companies will not survive the downturn if they guess wrong on its timing and length.
The Administration budget assumptions almost immediately were questioned by outsiders.
Within one quarter, that net deficit number appears low by at least 2 TRILLION dollars for a total of $9.
27 trillion, over the forecast period.
(source the Congressional Budget Office).
And how good can you feel about the CBO other comment that the confidence interval around their 2014 deficit is plus or minus about $900 billion.
Depending upon your political orientation and the sources you read to make decision, your preliminary estimate of the economic recovery is probably somewhere between the economy being at the bottom of a cycle and the two year remaining scenario.
Also scary is that your number may turn out to be better than the two experts mentioned in this article.
The real key is how to plan initially with your best estimate of the overall economy and its impact on your industry and company, remain open to getting better information on the economy on a regular basis, and remaining flexible to change as you get better and more trustworthy information.
Some businesses felt annual planning updates done in conjunction with the annual budgeting process was adequate in their industry.
Others feeling more volatility in their sector updated quarterly in conjunction with a quarterly rolling budget update.
Until the world gets more settled and better data available, why not institute some form of limited strategic MONTHLY update?
At the same time, Christina Romer, the head of the White House Council of Economic Advisers, says she is "incredibly confident" that President Obama's stimulus program will begin bringing the nation out of recession within the next year.
What does the former head of the Securities and Exchange Commission (SEC) know that the current Administration does not know? It has always been difficult to make business decisions when the information needed is either sketchy or of questionable accuracy.
The greater the uncertainty, the more difficult that process is.
Where this economy is going and in what time frame is an immensely difficult decision.
It would be invaluable to know what the smart money really thinks.
Who do you trust and how do you decide which source has an agenda in the statements they make, sounding like facts? After all, many companies will not survive the downturn if they guess wrong on its timing and length.
The Administration budget assumptions almost immediately were questioned by outsiders.
Within one quarter, that net deficit number appears low by at least 2 TRILLION dollars for a total of $9.
27 trillion, over the forecast period.
(source the Congressional Budget Office).
And how good can you feel about the CBO other comment that the confidence interval around their 2014 deficit is plus or minus about $900 billion.
Depending upon your political orientation and the sources you read to make decision, your preliminary estimate of the economic recovery is probably somewhere between the economy being at the bottom of a cycle and the two year remaining scenario.
Also scary is that your number may turn out to be better than the two experts mentioned in this article.
The real key is how to plan initially with your best estimate of the overall economy and its impact on your industry and company, remain open to getting better information on the economy on a regular basis, and remaining flexible to change as you get better and more trustworthy information.
Some businesses felt annual planning updates done in conjunction with the annual budgeting process was adequate in their industry.
Others feeling more volatility in their sector updated quarterly in conjunction with a quarterly rolling budget update.
Until the world gets more settled and better data available, why not institute some form of limited strategic MONTHLY update?
Source...