The Recession in Perspective

Not to minimize the pain that the current economic situation is causing - after all Circuit City's closing is perhaps just a first shoe dropping in the retail business, but perspective is a good thing.  The Minneapolis Federal Reserve has published some interesting data on their Website trying to put The Recession in Perspective.

The data seem to indicate is that the current recession is not looking as bad as recessions we have already weathered.  That is likely cold solace to those who have or soon will lose their jobs or businesses struggling.  The lesson we should take from this is that we will weather this and there will be a point where confidence returns and the economy rebounds.

Now is the time to put your practice on solid business principles.  Now is the time to market.  Now is the time to do a great job for your clients.  Now is the time to invest in taking your knowledge and skill to the next level.  If you do, you will survive this downturn and be set to take full advantage and profit greatly when the economy rebounds.

- Peter H. Berge

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