Posted on Dec 23, 2010
John M Grau
It’s year’s end, and I’m reading a lot of financial and economic reports. They tell us how we did in 2010 and make predictions about what 2011 will be like.
The consensus is that, economically, the worst is over, and we are recovering. But it is a very slow recovery.
It all sounds to me like how we characterize being sick with a bad cold or the flu.
First, we had the warning signs in 2008. We partied a little too hard, picked up some inflated asset germs, and then — wham! — we feel it in the gut. Next thing we know, it’s 2009, we’re fevered, anxious, lying in bed, and believing death might be a viable option.
We stayed in bed into 2010. We took our medicine, we were cautious about what we ate, and things started to turn around. Now, we’re on the mend, but not completely well. We want to feel better more quickly, so overall we’re a bit cranky.
As far as economic recovery goes, we’re in the cranky phase. So watch out. The November elections are evidence of what we do when we’re cranky.
It’s going to improve. My prediction is, we’ll still be pretty cranky in the first part of 2011. Later we’ll just be annoyed, and by the end of the year we’ll definitely be feeling better. We’ll probably even be appreciative of the weight we lost while sick.
2012 might be time to start partying again. But we won’t stay out too late.