All the media mavens seem to be trying to talk us into believing there’s going to be a recession.
From where I sit, in Arizona it doesn’t really look like it among my clientele.
Of course, they have me advising them on boosting marketing expenses and improving sales execution, but even so, business conditions don’t look that bad here. They look worse in Democratic-led states. Yeah, we’ve got a Dem governor here in Arizona, but maybe only temporarily.
All of the companies doing the layoffs are large, publicly held companies, many in the tech field. In many cases, it seems they overhired after the COVID pandemic, and growth hasn’t lived up to their expectations at the time. So, their stock price goes down, reflecting reduced growth.
Reduced growth doesn’t mean recession. It means reduced growth.
And the Biden crew hasn’t done anything to improve economic conditions since the House won’t let them spend money, and they’re a one-trick pony. But they haven’t been able to raise taxes, either, because the House is sitting on their tax increases.
And I expect McCarthy to negotiate spending reductions since he’s got all the cards in the negotiation. Joe hasn’t figured out that yet, but he’s well, slow.
So, dear readers, hang in there.
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