Col. Frank Ryan, CPA
…In the experiences that I have had assisting companies and organizations avoid bankruptcy, there is a very predictable pattern that organizations face when they are dealing with serious financial problems.
The pattern involves economic growth and prosperity followed by overspending. From overspending and excess comes a period of denial that anything must change to solve the problem. From denial comes failure. If the failure is accepted and dealt with growth is restored and the cycle begins again. If failure is not accepted, the organization will cease to exist.
The sheer disappointment and almost melancholy reactions to the Obama reelection made me realize that the American people are no different in their reactions than the employees and managers of the companies that I am attempting to save.
In any plan to resurrect an economy, as Mitt Romney proposed in his five point plan, a majority of people must first come to grips with the reality of the difficulties that they face. While the difficulties may have been obvious to those of us who describe ourselves as fiscal conservatives, the election results convinced me that the American people have not yet reached that same conclusion.
Typically in most bankruptcies, there is a catastrophic event which convinces the vast majority of people that they are really in trouble financially. We apparently are not at that stage yet in the United States…
The complete article is at American Thinker.
…Soros, who made $1 billion shorting the British pound in 1992, said that while the causes of the euro crisis haven’t been solved, the acute phase of the turmoil is over.
Germany will always do “the minimum” to preserve the currency, Soros said Thursday at the World Economic Forum in Davos, Switzerland. He forecast a “tense” two years for the euro region…
“It’s time for Obama to publicly lead the charge on cutting costs while preserving government benefits where they’re needed.”
An editorial from…The Los Angeles Times?
“… if we had a Clinton presidency, if we had Erskine Bowles chief-of-staff at the White House, or President of the United States, I think we would have fixed this fiscal mess by now. That’s not the kind of presidency we’re dealing with right now. “
Update: MITT ROMNEY AS NOSTRADAMUS?…
Reader Brent Sims writes: “Sorry, it is less like Nostradamus and more like Cassandra. Why do I think it’s just the beginning?” Yes, Cassandra was always right, but it was her curse that no one would listen.