Glimmers of hope

on April 14, 2009 with 0 comments » |

Looks like we may skip the Car1.5 generation (hybrid) and go from Car1.0 (gasoline) to Car2.0 (EV)

1) Really? Its over?

More Quickly Than It Began, The Banking Crisis Is Over

Investors find it disconcerting to see the stocks in the huge financial institutions that are at the foundation of the global capital system trading up and down 25% a day, and, in some cases trading in the pennies. Banks became the visible and ugly wound that reminded Wall St. each day that it had torn down what it spent decades building, which was a money-making machine driven by leverage and the cleverest synthetic financial instruments the world has ever seen.

But, the great banking crisis of 2008 is over.
How so? Read the article.. long story short, message is ..
The banking crisis may be over, but what is left is a reclamation job that will probably take years to complete, will still have a taxpayer price tag of over $1 trillion, and will leave America's largest financial firms as institutions of modest power and a regulated scope which will prevent them from looking anything like what they did two years ago.
i.e. banks will get back on their feet, the taxpayer will suffer the consequences for years to come!

2) Speech by Obama this morning talks of "glimmers of hope"...
Obama tempers optimism with reality on economy
Aiming to assert control over the nation's economic debate, President Barack Obama on Tuesday warned Americans eager for good news that "by no means are we out of the woods" and argued his broad domestic agenda is the path to recovery.

In a speech at Georgetown University, Obama aimed to juggle his recent glass-half-full takes on the economy with a determination to not be stamped as naive in the face lingering problems. He summarized actions his administration has taken to steady the limping economy and coupled that with a fresh overview of his domestic goals.

The speech, which key aides had signaled in advance would not contain any major announcements, came as Obama nears his symbolic 100-day mark in office, important because that has become a traditional marker by which to judge new administrations.

"There is no doubt that times are still tough," Obama said. "But from where we stand, for the very first time, we are beginning to see glimmers of hope. And beyond that, way off in the distance, we can see a vision of an America's future that is far different than our troubled economic past."

Obama's message came on a day of conflicting economic indicators and Federal Reserve Chairman Ben Bernanke's suggestion that the recession may at last be bottoming out.
3) Spring is in the air ...so, time to get a little cheerful?
Four reasons to be cheerful

Spring is a season for hope and renewal. All that stands between us and an end to gloom and doom are...the facts. But perhaps it is time to give optimism a try. Perhaps all the negativity is being overdone. Clearly, it can be self-fulfilling. Leaders should not be moping about, feeling sorry for themselves and spreading misery.

According to Peter Shaw, a partner at the coaching consultancy Praesta, when one chief executive asked his chairman what was the most important thing he should be doing at a time like this, his answer was: “Smile”.

Wishful thinking is no use. It is irresponsible. But there may be grounds for more positive thinking. Here are four reasons for managers to be cheerful.

Things will stop getting worse, probably

[snip]

Opportunities as others retreat

[snip]

Time to innovate

[snip]

Good things happen to positive people

[snip]

Optimists rule. That earlier advice about smiling may not be so stupid.

It is not easy to abandon a lifetime’s scepticism and embrace positive thinking. But perhaps too many decision makers in business have got used to expecting the worst. We need to snap out of it. Anything is possible. Why, even as media groups in the US shed thousands of jobs, applications to study journalism at Columbia, Stanford, New York University and other schools are all significantly up, Forbes magazine reports. Hope springs eternal in a young journalist’s breast. And in one or two older ones, too.
Anything is possible. Amen to that! :) Now I need to go fill the glass back to half at least...it's empty!

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