The week has not started out well for the financial state of the United States as the Dow Jones plummeted 634 points, on the first day of open trade after the announcement of the nations credit rating has been down graded over the weekend. What does this mean for small business's like us? We don't know, no one does.
Oh, yes the so called experts are making predictions and saying what it will mean and how it will effect us. The financial experts are saying save your money, pay off your bills. While I agree with the pay off your bills advice, history proves that our economy will not rebound until people start purchasing again. The job market will not recover without a return of citizens being able to afford goods and services.
If we want the Unites States economy to recover, there are three major things that need to happen:
1.) Companies need to bring jobs back to the United States! The influx of jobs from this move alone will have the highest impact on our economic recovery.
2.) Consumers making the choice to spend their money by choosing to buy products made in the U.S.A., will assist in creating more jobs here at home. This one is hard as everyone is trying to make ends meet these days. Yet, we have forgotten the old adage that we have to take care of ourselves before we can help others. Yes, I am applying that adage nationally as it is going to take everyone doing their part for us to recover from this economic crisis. While it may pinch already strapped pocket books, if we want our economy to recover this is one way to assist.
3.) Capital needs to be pumped into our economic system, however not in the form of bail outs or tax breaks for business's. Pump Capital into the system like history has shown to be successful in the past. Where real jobs were created by the government not just on paper. By putting the money back in the hands of the people, in the form of jobs, our economy will then recover and only then. We have never been nor should we aspire to be a socialist country.
Well I have indulged a bit and spouted off this morning. But in reality, we can only do what we can and the rest will work itself out one way or another as it always does.
As far as Entwined Vines Jewelry is concerned, no worries, we are committed to continuing in the creation of quality, mostly affordable one of a kind creations. We don't and won't skimp on materials or design just because the money mongers of wall street are in a panic.
What are you're thoughts on the current economic climate of the United States and the rest of the world?