Could news get any worse for investors and small businesses?
Today we have a report that consumer confidence is at it's lowest point in ten years. Of course, that touched off a flurry of selling on Wall Street. (Although, as of 2:00 pm EST the Dow was only down by 30 points.) Fears of war are also making the markets jittery.
Oil prices are nearing a two-year high. That's not good news going into the Spring and Summer travel seasons.
It seems a though unemployment has leveled off, but the economy isn't creating new jobs either. A lot of unemployed people have exhausted their benefits and have given up looking for work.
Many state and local governments are in the red and some economists say the president's tax plan won't do enough to get the nation's economy moving again.
I'm sure there's a silver lining here somewhere. The only thing I can think of is this:
The US economy was a roaring engine in the late 1990's. All that talent and infrastructure is still here in the US. This is just part of a cycle of boom and bust that is inherent to the economy.
Happy days and full employment may not be right around the corner, but this economic slump can't last forever. There's pent up demand and excess production capacity that will break out sooner or later.
It's just a matter of time.