When are things going to get better? "Sometime in 2010. Maybe," says Jack Welch in an intriguing BusinessWeek summary of the economy. In the May 4th magazine, Welch writes that he believes the economy has reached some sort of bottom.
He ticks off four additional beliefs:
- Because of inventory reductions, an uptick in demand will yield a quick response from the economy.
- The banking system is stabilizing with credit starting to flow.
- Americans are "generally feeling better."
- The president's budget assumptions are too high.
A swell un-Welchlike summation: "Finally, we don't have any idea when the economy is going to turn around."
Whatever you think of Welch's beliefs, it's important for young professionals to note the areas that he watches. Welch looks at the issues from the standpoint of the manufacturing business, not as an economist. Getting that perspective can also be valuable.
In the context of this recession, if you keep tabs on unemployment and watch the above issues, you'll know as much as the next guy. Even more. You can check out the article with my link.