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October 27, 2015

Ignore the Headlines

Bad Weather AheadLately the media is painting a particularly inaccurate portrait of the economy.

If one were to rely only on newspaper headlines and TV news, one could be forgiven for thinking the economy is on the verge of calamity. They report that China is collapsing, consumers aren’t spending money, and the outstanding employment numbers aren’t all that they seem. Viewed through the distorting prism of the media, we live in a glass half-empty world.

Fortunately, we can rely on our own eyes and ears to form opinions about what’s happening, and what I’m seeing doesn’t conform to any of the gloomy scenarios in the media. Consider the following anecdotes:

  • A client recently told me, “Our business has taken off — I’m very optimistic. I don’t see any evidence of the negative stuff I’m reading about in the press.”
  • At the gym, the CEO of an advertising company told me, “Business is excellent. Everyone I know is really busy right now.”
  • My wife, the CEO of a wealth management company, told me the other day, “It’s crazy — all of a sudden it seems like all of my clients are buying property. They are keeping us so busy!”
  • Finally, the traffic here in my home city of Boston is terrible, the worst of my lifetime. It’s more evidence that we’re in up terrific economy where lots of people are working and trade is brisk.

We are fortunate to be in an outstanding economic environment. If you haven’t already awoken to this fact, it’s time to start paying attention.

Above all, appreciate these good times and do everything you can to take advantage of them. Anyone over the age of 25 knows it’s not always this way.

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