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The End is Near?

Written by: James Dicks

Article Overview: James Dicks discusses the importance of sifting through the news of the day to find what is important to your personal economic situaiton.

The End is Near?

I keep hearing news reports about the current economic situation and so many government economists are now saying that the end of this fiscal debacle could start to mend itself earlier than first anticipated....this year! I kind of have my doubts but in keeping with my own personality, I always try to keep positive thoughts.

Just this past week, Federal Reserve Chairman Ben Bernanke gave an extremely optimistic report when he said he expects things to start showing growth patterns this year. Bernanke, speaking to a joint Congressional Economic Committee, gave his most hopeful prediction so far about the end of the recession, telling us that he anticipates the U.S. economy to start growing this year - although the recovery could be weak and more jobs will be disappearing even after a recovery seems to take hold. He said he saw hopeful signs, including more solid home sales, a revitalization in consumer spending and a small improvement in lending conditions for banks, businesses and individual borrowers. Even though it's Bernanke that said it, it's still only one man's opinion but it is good to hear some hopeful words for a change rather than the normal gloom and doom presented hourly (24 hours a day!) by our esteemed media.

The economists who are telling us their opinions today are doing so, I believe, to gain a foothold to fame. Should an economist or analyst "hit the ball out of the park" with a prediction, they will be labeled a hero for the remainder of their career and might even win the Nobel Prize. Stranger things have happened!. And if they miss it, it probably will go unnoticed by the American population. So, what do they have to lose?!

My point is to stop listening to these harbingers of doom or those who sometimes deliver unsubstantiated good news via the media. Chances are that sometimes both of them are right in some form or another and sometimes both of them are wrong. What really matters is your personal economic situation. If you have a job, the economy is in pretty good shape. If you don't have a job, the unemployment rate is 100 percent at your house. It just depends on your personal perspective and that is developed by your individual situation as it pertains to your own life right now.

Those who are responsible for informing the American public, whether they are politicians or media reporters, are doing a disservice to our population by reporting what they believe in partisan truths. It might be true but then again.....?????

The old adage of "sifting through the noise" comes to mind and I urge each one of you to apply this concept to your own life. Determine what is important to your situation, find a source that you are comfortable with and then apply this information to your personal and professional life. No matter what side of the political fence you sit, why read or watch a news agency that angers you? There's enough anger in the world so don't amplify it.

If you are conservative - fine!

If you are a liberal - great!

One thing is for sure, everyone needs accurate information, or what they perceive to be accurate, to make solid decisions. So, filter the information you receive everyday to determine what's important to your situation and then use it to find your own economic reality.

Whether things start to improve this year or not - generally the "big picture" is out of our control. There is no sense in getting upset over what the economy is or isn't doing. Just fix what you can in your personal life, don't get frustrated, and keep moving forward. One thing is for sure; bad times always seem to improve and I truly believe this "bad time" will be no exception. When the economy begins to improve is really not that important - the only thing that's important right now is keeping your personal economic situation on the tracks. If we are all strong individually - we'll be stronger as a country.

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Article Tags: budget, cash, credit, credit cards, economy, education, forex, james dicks, money, New Year, plastic, premieretrade, resolution, spending, stocks



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