Archive for the ‘Money’ Category

Recessions are often said to be caused by natural variations in the business climate referred to as the “business cycle” or the “economic cycles.” These are said to occur either for no known reason, or as a result of relatively rapid growth or stagnation due to technology, invention, emotional or perceptive climate, and other factories.

More concretely, though, recessions are often caused by rapid growth, followed by a rapid decline of that growth – such as in the housing market in 2008 (huge growth, irrational growth in many ways – a side effect of rapidity – for the preceeding decade, followed by a stop of the growth), the dot-com bubble growing unexpectedly fast prior to 2001, etc. Rapid changes in economic climates of any sort often creates irrational behaviour in the market, both in the sense of people expecting growth that isn’t coming, and in the sense of people making decisions simply based on previous trends.

Joseph Schumpter, a famous economist, theorized about business cycles, suggesting that in fact, there may be as many as 7 different business cycles which effect our economy – the shortest of which, is the simple inventory cycle, rotating every 3 years or so, over the simple amount of inventory businesses can stock and produce, combined with the inelastic effects of such rotating demand.

Keynesian economics might disagree with this view – suggesting that cuts in wages be too inelastic to accurately keep up with changes, and therefore, recessions are in fact caused by falls in prices that cannot be met with equal falls in wages, over time.

Each business cycle leads to different ups-and-downs in the economy; which helps create both booms and recessions.

Recessions clearly have many drawbacks – increased intervention to try to fix people’s difficult lives, to the actual difficulty of people’s lives, it seems everything to do with recessions, even the word itself, is negative.

A recession may help those who practiced diligent saving significantly during the boom – prices fall (short-term), deals become available, and everything seems to be “on sale.”

But alas, there’s another side to everything. Recessions force companies, and even households to be more frugal, to learn and be more reasonable about their personal and corporate finances, and how they spend their money. They force proper management and better decision making.

Of course, the interventionism helps consumers too – the IRS, during the 2008 recession, mailed out a large tax rebate payment to consumers designed to “stimulate” the economy. Of course, it’s unlikely such stimulus works, but to any individual, they reap the rewards of seemingly free money.

With central banks dropping interest rates dramatically in effort to stimulate spending, the ability to borrow money for those who already intended to do so becomes much easier. Or, at least, cheaper; borrowing money in recessions is often difficult, as banks and lending institutions tighten up their policies and credit availability for the same reason everyone else does – they don’t have as much available capital.

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Homeowners and design savvy builders have come to appreciate the artistic value bestowed by the abundance of lighting fixture styles that can be incorporated to create uniform design schemes throughout homes and businesses. Recessed lighting has been around since the 1950s, but has recently been gaining popularity as an alternative to traditional light fixtures due its versatility. Recessed lighting is a significant component of the lighting design in many residential and commercial buildings, offering a visually pleasing while functional source of light that can be used in a variety of applications.

What is recessed lighting? Recessed light fixtures illuminate from just above the ceiling surface, rather than protruding down in full view. This flexible style of home lighting gives designers the opportunity to incorporate specific levels of lighting to achieve the desired ambiance while directing focus to the intended highlights of a room. Recessed lighting can be implemented as the sole light source for rooms and hallways, or can produce a broad spectrum ambience throughout an area that serves as a “backdrop” to other, more targeted sources of light.

Many decorative lighting arrangements, such as wall sconces and chandeliers, are artistically striking but often do not produce practical, functional lighting to meet the needs of a household or business. Recessed lighting can be used in combination with such lighting fixtures to provide a sheath of light throughout the room while highlighting intricate details of a decorative chandelier or sconce. Recessed lighting can also be used to illuminate an eye-catching design element of a room, such as wall art, an accent wall, a china cabinet or other piece of furniture.

Using the appropriate bulbs in a recessed lighting fixture is as important as the fixture itself. The size and voltage of a bulb will affect the amount and intensity of light that it produces. Recessed fixtures in a fairly small bathroom would not need to be the same diameter as fixtures designed to illuminate a larger room. On the other hand, a bathroom would likely necessitate a brighter (higher voltage) bulb to produce the desired level of visibility than a hallway whose primary purpose is to provide ambient, dim lighting to impart a softer effect.

Whether recessed lighting will be used in a bedroom for reading or in a kitchen to supply optimal illumination for cooking, the intended purpose of a room is a significant consideration in determining the type of lighting that should be implemented.

In early 2008, recession is definitely the buzzword of the day. Before we talk about how to stay afloat during a recession, let’s define what a recession is. The simple definition is this: An extended decline in general business activity. However, when you hear about a recession in the news, they are typically referring to the broader definition with reference to the country’s economy.

The National Bureau of Economic Research formally defines a recession as three consecutive quarters of falling real gross domestic product.

Surviving during a recession (whether it be broad-based, just in your state, city, or even company) is no easy task. Money is tight, and for most Americans, this means that before you were making it from paycheck to paycheck, but now you aren’t. That squeeze can have many effects, many of them not just financial. Stress leads to depression, which leads to decreased productivity, and the cycle continues.

The first key to surviving a recession is to realize that it will be over soon. Most recessions typically last for 6 to 18 months. This can seem like a long time during the recession, but it’s really not that long in the larger sense of things.

Here’s 5 things to do to manage during a recession:

1. Refinance your mortgage. Almost every time we are heading into a recession, or already there, the federal reserve will lower interest rates to stimulate the economy. If you’re in a high-rate mortgage, refinance now. Not only will it lower your payment, you’ll save thousands of dollars in interest over the long term.

2. If your finances are tight, resist the urge to splurge. If you don’t need it now, wait until the recession is over. You’ll thank yourself later.

3. Keep your job, or get a job! Employers feel the squeeze during these times, too, so make sure you are not a dispensable employee. Shape up if you have to, and make sure now more than ever you are doing what’s best for the company.

4. If you happen to have a little extra spending cash, now is a time for good deals. Companies need to stimulate sales, so they will be offering their best deals. Just like mortgages, if you’ve had your eye on something special (and you have the funds) now’s the time to buy.

5. Don’t stress out. If you’re struggling financially, so is almost everyone else. Just track your money closely, don’t spend more than you earn, and take extra time appreciating the things that matter most in your life.

China’s premier Wen Jiabao says the world could still fall into a double-dip recession and is warning against complacency. At his annual press conference, China’s number two leader has warned that the world has not yet escaped the clutches of the global financial crisis. Mr Wen said some of the major problems which caused the crisis have not been fully resolved. He said there is still a possibility of a double-dip global recession and many Chinese companies are being kept afloat by emergency stimulus measures. Given the possible danger ahead, Mr Wen indicated China was not ready to allow its currency to appreciate. He told the two-hour news conference that calls from the world’s big economies for China to lift the value of its currency were unhelpful and protectionist. “The road ahead is not smooth and may be full of twists and turns,” he said….. www.abc.net.au CHINA’S Premier, Wen Jiabao, has warned that the world risks sliding back into recession and says his country faces a difficult year trying to maintain economic growth and spur development. Mr Wen said yesterday China would not give in to foreign pressure to raise the value of its currency or withdraw stimulus measures put in place in late 2008 to pull the country out of the crisis. In a rare two-hour news conference at the end of China’s annual session of parliament, Mr Wen called for more reforms to the world’s financial system as China ponders policy choices aimed at fighting rising inflation while increasing …

The Wall Street Journal has reported that the Fed is preparing for a double dip scenario. They have many reasons to be concerned and we can be sure that if a double dip happens, the Fed will respond with more money printing. Gold, Silver, double dip, recession, Bullion, Investing, Inflation, Hyperinflation, Peter Schiff, Marc Faber, Jim Cramer, Gerald Celente, Jim Rogers, Nouriel Roubini, Glen Beck, Barack Obama, Bernanke, stock market, stocks, Robert Kiyosaki, Jim Sinclair, gold intelligence, gold-intelligence.com

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This article is about two things: recessions and a solution to them.

Don’t worry this is not an economic treatise about the definitions and causes of economic downturns sometimes called recessions. Rather, it is an explanation of how we can think about these events differently and, when these circumstances surround us, how we can improve our results regardless of what the media tells us.

While regional, national or global level economic indicators can show that an economy is slowing down, that people are losing their jobs and the like, I believe that for individuals, a recession is little more than a change in circumstances that we can choose to participate in . . . or not. I would argue that recessions don’t even exist for us as individuals, unless we allow them to.

Recessions and Our Response

First, if you are reading this and have lost your job or are facing significant changes in your situation due to the events being labeled “recession”, please don’t get angry with my comments, but continue reading with an open mind. Use these ideas to be proactive in dealing with the opportunity you are now facing.

The media and/or politicians may say we are in a recession. And yet, businesses are still buying products and services (though perhaps a bit less than ‘normal’) and businesses are still hiring employees and moving forward.

The key for you and your business is to be the one who gets a larger percentage of the orders or the interviews or job offers that are available. In this proactive way you can choose to recognize that recessions are macro not micro events. You have a choice about how you will view the event the media calls “recession.”

What I’m saying is that times might be a little tougher and that it might not be as easy as it used to be (or will be again), but so what? You can succeed through a better plan and a bit of persistence. When things are a little tougher, it simply separates out those who are prepared to work harder and more creatively.

Our Best Response

After you have readjusted your views on what a recession is, and how you can most proactively view those circumstances, your next actions should be focused on the source of your income and profits: Your Customers.

You may call them something else: Clients, Patients, Students, Participants, Users, or Participants. Or you may be thinking, “Kevin I work inside the organization, I don’t deal with our paying Customers.” That’s fine, you still have Customers. Other departments, the people who you give your work to, the people who give you work, all of these people are your internal Customers. (If you “only” have internal Customers, read on, apply the points and wait for a special message for you before I close.)

Whatever you call them and whoever they are, your Customers are your personal recession buster – but only if you focus on them more completely, deeply and consistently than ever. Think about it this way – your Customers are the source of all revenue for your organization; your Customers write your paycheck. It makes sense to build and deepen your relationships with them always, but that is never more true than in times where they are buying less and probably distracted by the economy themselves.

Your Customers are looking for new solutions. Your Customers want help. Your Customers need you.

Five Ideas

Here are five ways you can focus on deepening your relationships with your Customers, starting right now.

Get in touch. Stop by, make a call, send a handwritten note, send an email (in that order of priority – the further up this list the more valuable the contact will be). Let them know you care, take the effort to be connected.

Stay in touch. Don’t make this contact a one-time event but part of an ongoing process of staying in touch, connected and at the top of the mind for your Customer.

Ask how you can help them. No strings and no qualifiers. Do you appreciate it when someone offers to help you with something? So will your Customers, even if they don’t take you up on the offer.

Educate them. Send an article, share an idea. After you know how you can help or what their challenges are, it will be easier to determine the best things to share based on their interests and needs.

Focus on serving not selling. People buy from those they like, trust and respect. Sales will come. Focus on the person, building the relationship and serving them.

These are just five ideas – you probably can come up with fifty-five more. Your challenge is to find ways to be relevant, helpful and available to your Customers.

A Final Thought

Before I close, I promised those with internal Customers a final thought. If you will do the things above, you will help your internal Customer better serve the paying Customer. When you sparkle in these efforts, they may even get ideas from your actions to apply with their Customers.

Regardless of where you sit in the organization you can have a direct impact on business success by your actions. Focus those actions on improving relationships with your Customers, whoever they are.

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Potential Pointer: Recessions can be damaging events to you and your business, or they can be a perfect reminder and stimulus to improve your results by deepening and broadening your relationships with your Customers. When you make the right choices and take the right actions in building Customer relationships you will thrive in any economic situation.

A supporter made animation video about how taxes don’t help an already struggling economy.

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