Friday, December 19, 2008

We Are Not Participating

Sam Walton, the founder of Wal-Mart and Sam's Club said in 1991 that he was not going to participate in the then recession.

The United States is getting deep into it and we in Canada will not shake it. They U.S. sneezes and we catch a cold. Business has been so good for a number of years but come the new year many will declare bankruptcy on both sides of the border. How can that happen? Elementary my dear Watson. When business is good most live for the day and don't think of putting away a little for the rainy day.

Some businesses will have no choice to pull their horns in. Credit is going to get tighter and the consumer is going to delay purchases of non essential goods. Thanks to the media and their daily grim news, you would think we might as well board things up for awhile.

So as we wait this recession out, take a minute and 40 seconds and have a listen to this Charles Osgood file from CBS Radio on, How the grinch stole the economy.

Tony Mariani

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