WHAT WE THINK ABOUT WHAT YOU THINK ABOUT.
The first time I went off the high dive at the Martins Ferry public pool, it took a few tries. Got in line. Climbed the ladder. Walked out onto the springboard. Looked down at the water (actually, I think I was looking at the bottom). Got butterflies. Turned around, made everyone get off the ladder, and went back down.
Lifeguard asked me what the problem was. I could swim. I could hold my breath. I had made dives off the low board and the side of the pool many times. So, what was the problem? I was skeert (there doesnâ€™t need to be rational support for skeert).
Finally, on about the fourth try, I jumped in, feet first. And that was that.
Well, I think the technical term for the economy right now would be, skeert. Have a client who has been wanting to pull the trigger on an initiative for a couple of weeks now. Weâ€™ve been through the objectivesâ€¦the strategiesâ€¦the tacticsâ€¦the budgetâ€¦the anticipated return. They know that doing nothing is not an optionâ€¦that doing nothing would do more harm than the worst case scenario of doing the initiative. Butâ€¦theyâ€™re skeert. So, we will wait.
This morning, I notice that the market has been beating its head against Fridayâ€™s close. It really wants to break through and continue last weeks run. But after a weekend to consider thingsâ€¦an upcoming government bond saleâ€¦a couple of corporate earningsâ€¦itâ€™s just skeert. Itâ€™s a hard time. But eventually, we will stand up, pull out our wallets, and buy something. And then, something else. And pretty soon, weâ€™ll be back in a groove.
Letâ€™s just hope we act like we have some sense this time. When it comes to running up debt, buying houses we know we canâ€™t pay for, and trillions of dollars in national deficit spendingâ€¦maybe it ainâ€™t so bad to be a little skeert.