Survey Says Americans are Optimistic about Economic Future
There is little surprise that the public in general is getting more optimistic about the economy.
As noted in the NY Times: Americans have grown more optimistic about the economy and the direction of the country in the 11 weeks since President Obama was inaugurated, suggesting that he is enjoying some success in his critical task of rebuilding the nations confidence, according to the latest New York Times/CBS News poll.
If you watch any newscast where they are discussing the economy and what will bring us back to a prosperous economy it all boils down to the point-of-view of the public. If we have more prominence in terms of opinions that the economy will pick up, then it will pick up. If more people say we are heading for more bad times, then guess what we will be. The economy is the most democratic thing we have, and all votes matter.
In the Commercial Lending arena there has been more action over the last 11 weeks than there has been for months prior to Obama taking office. This is a sign of confidence and a willingness of Business to get back to work.
We really need more proactive measures to get us out of the recession we are in because if we wait to react to changes the changes will come slower.
So how do we get companies and people off the fence that are considering to take the jump and start buying?
No one can argue that President Obama is not doing everything within his control to stimulate the economy and restore faith in our economy, but he can not do the fix alone. It takes all members of the economy to fix it and we all benefit from the outcome.
You can be sure that once everyone does start buying and selling again, there will be a long term effect on how we spend and buy and hopefully we will learn from our mistakes and not be so short sighted. We all need to contribute. Not talking about digging a financial hole for yourself, but do what you can. It will hurt a bit, but it will hurt a lot more if we do not.
Commercial Lending including Commercial Equipment Finance and Commercial Mortgage rates have fallen and the pricing of these assets have also fallen so now is a perfect time to make that purchase you have been putting off. You will not see cost of funds as low as they are now for a very long time.