Should the US Federal Reserve start raising interest rates soon, or continue to wait? What would be the consequences for your business or industry either way?
The Fed has made a mistake. Soon the economic downturn will show more seriously. When it threatens to become a major problem the Fed will start to create money again. While I criticise the Bank of England’s Chief Economist, Andy Haldane, for the daft idea of punishing savers, I do understand his concern that unless people are forced to spend the world’s economy will shrink. It is high time the top financial authorities faced the reality of the impending crisis, took the necessary steps to plan for a world that does not and cannot perform the same way economically that it did and started preparing us for the uncomfortable truth. The world’s economy is desperately overspent. As a business, mentoring, coaching and training benefit from a dose or reality and prudent living. The people we serve do not benefit from delusion.