10
Mar

There is hope…

Posted by: AmberRoberts in: Financial Services -

It’s tough to be optimistic about the economy today.  The market remains volatile on a daily basis, the unemployment rate is the highest it has been in 25+ years, G.E. is in trouble (read the NY Times article from this past Sunday), I could go on and on.

However, Justin Fox from TIME magazine had some thoughts this morning about why he is optimistic right now.  While he’s not particularly convincing, and even a little wishy washy on some of his points, if you’re looking for some hope consider his 3 reasons why you should be optimistic about the economy:

1. Stock market not overpriced (Fox says don’t just look at one year of earnings.)
2. Government involvement in fixing the economy (While many would say yikes to this, Fox claims we should be thankful that the government is being proactive, realistic and moving us forward.)
3. Consumer savings rate up (This is good in the long term and even in the short term because it helps us get to the bottom quicker so we can move into recovery.)

Here’s the full CNBC segment with Justin Fox: http://www.cnbc.com/id/15840232?video=1057945685&play=1

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