More recession talk!


Have I mentioned before that I'm sick of people moaning about our economy and wailing that we're on the verge of a recession? I have? Oh that's right. I have. Well here I go again. Last night Alan Greenspan, the former Federal Reserve Chairman, spent his evening complaining about our economy too. He says we're on the "edge" of a recession. I have an idea... instead of lamenting about the economy, how about being productive.

I know that the media is having a field day trumpeting the horrible state of our economy. It makes for nice emotional stories that draw in readers and viewers. The problem is that it doesn't help anyone, really. Those who were always conservative with their money will continue to be so. Those who have been big spenders and bad savers aren't likely to change their modus operandi even with the news reports on recession. So why are we belaboring the point.

Ben Bernanke, the current Federal Reserve Chairman is saying that there will likely be slow growth our economy for 2008. Slow growth is better than no growth or a recession, so let's run with that. Let's talk about how we're going to support American businesses and buy American-made goods, and overall help keep our economy humming, okay?

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.