For The Herald Bulletin
—
Few will forget one of the most genius marketing lines ever: “Where’s the beef?” Short, sweet and brilliant. Competitors tried to square off against the famed Wendy’s add but all fell short in my opinion. Important to note was the willingness to have a conversation presenting multiple sides with multiple view points.
Our country, the entire world economic system in fact, resides in a state of confusion. We have never been here before frankly. A quick read through the morning economic reports is enough to encourage us to head back to bed and pull the covers over our head. The reality is that we have plenty of good news economically – and bad news – but we have no sponsor to carry the good news.
November is coming up and both primary political parties are preparing to square off in a robust game of who did it and who can fix it. Neither side seems to have the fortitude to talk about what is right or at least improving. Waking up daily to a dose of bad news is concerning; but it is not my biggest issue.
We have been a nation of people with different attitudes, beliefs and even objectives but we have collectively followed the basic principles of law. We have known what to expect when things go wrong. That foundation has given us hope in our future and a certain level of boldness in making business decisions like investing in equipment or hiring people.
Today many of us question that certainty. We have seen courts violate long standing creditor protection, use the tax code as a political pulpit with no concrete answers, and a willingness to liberate the nation’s capital today with limited regard toward our future and our children’s future.
Economic growth will be met with limited success until this type of uncertainly has been removed from the mix. Employers, entrepreneurs and capitalist of all kinds are used to taking risks in the name of progress but the current climate is not just about making calculated wages.
Uncertainty abounds and rules have been changed after the fact. Confusion abounds in the world of economics as pundits plead for jobs but more jobs require more answers and more certainty. We ask corporations to come off their piles of cash and invest in people and yet we give them no certainty about the rules going forward.
The best thing we can do in a world of economic chaos is provide clarity. No political party can fix the challenges created by demographics. We as a country will have to deal with the consequences from the Fall of 2008, from both the actions and the inactions, for the rest of our lives. We need sponsors for good news but more importantly we need sponsors for clarity. Capital left to its own devices will always go to where it is best served. Today it is fleeing towards the only certainty it understands – the proverbial mattress. Answers, please!
Joseph “Big Joe” Clark is a certified financial planner. He can be reached at bigjoe@yourlifeafterwork.com, or 640-1524.
