Real World Economist, the Paranoid Optimist
Whats Really Going On
As a keyntoe speaker Don Reynolds provides a “Global Big Picture.” He believes most people are generally optimistic, but are nervous about the future. He speaks about what people want to hear—and what they need to hear. Don Reynolds has spoken to more than 1,000 audiences in 19 countries, including the Saudi Arabian Monetary Authority, European Institutional Investor Summit, Russian Academy of Sciences and Harvard Medical School.
Speaker Don Reynolds
We are in recovery the trend is clearly up. There will be no double dip recession, Corporate balance sheets have over $2 Trillion in cash and another $6 Trillion in cash is sitting in money funds and short term deposits. Corporate earnings are strong and US exports are robust. The global economy should show economic growth in excess of 5%. The economy’s biggest headwind is uncertainty. We are still plagued by more housing foreclosures, budget deficits and poisonous political partisanship in Washington DC.
In the last twenty years the global economy has produced three billion new capitalists with a voracious appetite for consumer products, while creating a new global labor market. Asia has become the second engine of global economic growth; Europe seeks to define its new global identity; Latin America witnesses the birth of a new middle class; and mineral and agricultural rich Canada is perfectly positioned. Don presents a bold assessment of the current political and economic events and forecasts major trends in the global economy.
Don believes that the velocity of change is accelerating due to Globalization, Demographics, and Technology. When these forces interact, massive changes or tectonic shifts occur, creating a visceral new reality, perceptions change quickly. We will confront new ethical Dilemmas, New Trends in Technology and Bio Research will alter our lives more in the next ten years then in the last thirty.
Whats Really Going On:
(This appeared in Time Magazine.)
“The US economy remains almost comatose. The slump already ranks as the longest period of sustained weakness since the Depression. The economy is staggering under many “structural” burdens, The represent once-in-a-lifetime dislocations that will take years to work out. Among them: the job drought; the debt hangover; the banking collapse; the real estate depression; the health care cost explosion and the runaway federal deficit.”
It pretty much sums up the situation, however we have been here before! The quote you just read is from Time Magazine, September 1992. In September 1992, the Dow Jones Industrials was below 3400, which was the beginning of an eight year run to 10,940.