November 26, 2008

The Not-So Perfect Storm

The brightest minds and pontificators these days are all focused on the economy. It was scary to watch the U.S. government opening up another $800 Billion for bailouts yesterday. Where will this come from? Who will pay for it eventually? How will the U.S. ever catch up? Why aren’t they letting some companies go out of business?

I am not a financial guy. I just ask those questions like most people.

Not to suggest we try the “la la la, I can’t hear you” approach, but it is time for us to re-focus on the fact that North America was built on ideas and creativity, freedom of speech and the ability to do and share what we want. And most importantly – with each other!

My government in Canada finally announced yesterday – after weeks of denial - that we too are suffering from downturns. The fact that the U.S. is our biggest trade partner, might be the first clue. The announcement was not a newsflash.

I have worked with marketing and advertising partners my entire career. In the last few months, the conversations have been nothing short of interesting.

Conventional "wisdom" may suggest that the time to stop spending is when we face an impending storm. Spending and spending unwisely are vastly different things. The better approach is to plan wisely verses hiding and hoping.

It’s difficult to concentrate when we see companies such at Citygroup getting a $306 Billion helping hand from the U.S. government.

We do need to be more prudent. But if we want to grow, sharpen our pencils, and ask each other a lot of questions. If you would rather batten down the hatches and hope the storm doesn’t hurt you too badly, turn the lights off and go home.

km

 
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