Americans have spent the past two and a half decades on the biggest shopping spree in world history. Ranging from new houses, to new cars and everything in between, Americans now have undisputed claim on the title of the most prolific shoppers in the world. Unfortunately, as with any shopping spree, there comes a time to pay the bills. Yes, it’s true that what goes up must come down.
For several weeks now one of the most popular debates has been about the definition of a recession and if we are currently in one. The question is irrelevant. What matters is that we as Americans realize that we have some self destructive practices and that we take this time as an opportunity to fix them.
Here are a few random thoughts from the soap box that may identify some of our pitfalls and how to avoid them in the future.
Anything that does not provide value will not survive.
From the tech boom and bust in the late 90’s to the housing crunch that we’re in now, things that live on self generated hype don’t last. It’s a simple equation, if supply exceeds demand watch out. Continue reading »