Are Obama Fans Too Optimistic?
by Tim Fausch
January 21, 2009
Regardless of where you fall in the political spectrum, you
are likely looking forward to a change in Washington. If you are a business
owner or manager, you are especially excited by the prospects of a new cadre of
leaders generating optimism among consumers.
I am right there with you. Consumer confidence is the
lynchpin to fixing our broken economy.
Here’s an example of how this works. Today I got a call from
XM Radio, touting its new offerings from its merger with Sirius Satellite
Radio. This is at least the third call from XM since I let my free trial expire
a couple months ago.
They offered me a sweet deal. They were discounting their
service even further than the “half off the first year” deal they originally
offered. Now, they wanted to restore my old service, plus give me 40 additional
channels, for just $3.99/month.
I actually thought their service was pretty cool. Catching a
few laughs on the Blue Collar Comedy channel is a nice perk when so much
negative news is at hand. But I turned them down.
Hence, I am part of the problem. People representing
companies with good products are hearing the word “no” to even the very best
offers. Like dominos falling, each “no” leads to more pessimism.
My colleague Dan Murfey, publisher of Site Prep
magazine, just returned from the Association of Equipment Distributors-Condex
show in San Diego. Although attendance was down, cautious optimism was up. Why?
Dan explained that President Obama’s stimulus program
promising a massive public works program has given construction equipment
manufacturers hope. Many are projecting that the second half of 2009 will
produce an increase in orders for backhoes, skid steers, excavators and more.
This kind of optimism will go a long way to regaining economic momentum. The
more people say yes to buying products and services, the more our economy will
rebound.
Unfortunately, there are footnotes to this theory, as noted
by the pundits who populate our airwaves. One observer commented that public
works projects for infrastructure like roads, bridges and water systems are
notoriously slow to develop. These projects often take years—not months—to
complete. We might not see any measureable stimuli to our economy until 2010 or
2011.
Another pundit took shots at the “green jobs” President
Obama hopes to create. The pundit claimed that goals for green job creation
dwarf the ability of industries like solar and alternative energy to absorb new
workers at a viable pace.
Skeptics might have a point. Can well-intentioned federal
job-creation programs really meet the lofty expectations? I’ll bet my new Obama
commemorative plate that many of these programs will be busts. But some may
work beyond our dreams.
What about you? With our new leadership in Washington promising
change and hope, are you ready to buy products and services that you’ve
postponed purchasing in recent months?
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By: Bill Rogers
Posted: January 21, 2009 2:53 PM
What we have now is someone willing to chart a new course. The hightened expectations are in part a fantasy of the media and a weapon of partisan politians who can't wait to lay some liability at the feet of our new President.
The recovery will be long and hard, but every journey begins with one step. We just need to keep putting one foot in front of the other...
By: Tim Fausch
Posted: January 23, 2009 10:33 AM
Thanks for sharing. Your Titanic comment is dead on. Unfortunately, we're seeing many companies unable to avoid the icebergs and sink.
We've reached a point where discipline judgement, sacrifice and accountability are needed in business, government and our personal spending.
Americans will adjust, but as you say, it will be slow and painful.
Tim
By: JOn H
Posted: January 25, 2009 9:36 PM
It's puzzling, sad and unAmerican, in my view, to read the vitriolic lies about a man who to me appears competent, straightforward and with intentions to "fix" things.
I wonder why some (not all and getting fewer by the day) hate America, themselves and one of another race so intensely that that is all they see.
I hope Obama is successful, if not we are in for more trouble than we have now - and that's for sure.
By: Ryan Hemphill
Posted: January 28, 2009 1:18 PM
Ryanh@wmfmeyer.com
http://www.aquaesulisshowroom.com/blog
By: Ryan Hemphill
Posted: January 28, 2009 1:18 PM
Ryanh@wmfmeyer.com
http://www.aquaesulisshowroom.com/blog
By: miles
Posted: March 19, 2009 4:32 PM