In this volatile economy, is there such a thing as a good investment?
Every morning, I read the Wall Street Journal for a glimmer of hope for the US economy. On some days, today being one of them, the paper is filled with good news followed by a positive forecast and a upbeat market. Just when I think we have what it takes to get out of this economic stagnation, my hopes are dashed with one bad news after another. For myself and others following finance, this has been the common theme for the entire past year. We all face the same question: When will there be any certainty in forecasts?
In a decade with two gigantic recessions, many executives were faced with difficult decisions. Some saw their companies through the tough times and into a prosperous future, while others… failed. They fell flat into the ground, face first.
From those failures, a few stood out as disasters. Leading healthy corporations, they disappointed investors, shareholders, and the economy. Thousands of large businesses have failed, thousands taken over by more powerful and better managed competitors.
In an attempt to differentiate the bad from the worse, Smarter Spend has dug into the past and brought you the Worst CEOs of the 2000s Decade.
Almost one year ago, we predicted, correctly, the inevitable bankruptcy of some large corporations in 2009 (Old Article). As the highly volatile market of 2009 is slowly fading into the “Reconstruction” era model of 2010, consumer spending has slowly been realigned from the “wants” to “needs.” Although confidence has gone up slightly from last year’s holiday season, more and more Americans are finding out that the green linings in their wallet have disappeared.
The ongoing financial crisis of 2008 and 2009 will forever change the face of the United States economic ideals. Out of the ashes of double digit unemployment, trillion dollar deficits, and billion dollar corporate bankruptcies will emerge a new America. This America will be different in many ways from the capitalist country that rose to economic powerhouse status in the post-World War II era, testing the ideals of laissez-faire capitalism and limiting the power and influence of the banking system and the corporations they cater to.
During the early days of the recession, as stock markets were vacillating between gains and losses, investors had hopes that 2009 would bring about a slow economic recovery as the housing market stabilized. However, two quarters later, with stocks at their lowest levels since the mid 90s and no turnaround in sight, Americans are bracing for what could be a devastating depression. The pain has been felt around the world with 8 members of the European Union pleading for help, loss of jobs all around the world, and a drop in commerce levels.
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