For the first weeks of office President Obama continued to drill into the heads of Americas that our economy was in really bad shape and that things could be bad for a very long time if we did not take the appropriate steps to correct the problems. While a lot of the things said by President Obama were true, some of it we felt was an attempt to scare Congress into passing some of the much needed stimulus bills, without long drawn out debts that have become the norm on capital hill. This approach may have been what was needed to help Congress along, it had a much different impact on the rest of America…people began to believe the sky was really falling across our economy.
Yesterday, the approach of President Obama began to change, while speaking to a large group of CEO’s, President Obama took steps to help boost the confidence of Americans by trying to show us that the economy is not as bad as we think. President Obama even commented on one of the issues we have noticed with the market:
“A smidgen of good news and suddenly everything is doing great. A little bit of bad news and ‘Ooohh, we’re down on the dumps,'” he said. “I don’t think things are ever as good as they say, or ever as bad as they say,” he added.
The second line of comments from President Obama is something we try to remind ourselves everyday around the office, if one lets their emotions get too high or too low it becomes much harder to make rational decisions.
Hopefully the optimistic talk from Washington will continue, as long as they continue to remind us with that talk that unfortunately things will not be fixed overnight. DC