Coping with public and private transport since 2001
While financial institutions are important, consumers are, in the end, the most determining factor of economic performance. Their confidence is then also the most important KPI. Messages of hope isn’t such a weird strategy in the light of that. In addition, we’re really nÃ³t that dependant of the US economy. It’s mostly a mental matter.
So while I think we should be careful (I for one wouldn’t want to be buying a house now), I’d also avoid taking Wellink’s position that we’re in a grave situation. I for one think they’re not giving false hope.
I put it like that to make a firm point, I was aiming for it to raise attention.
I think their optimism is slightly overreacting, and it should be a little tempered. Yes, encouraging ‘us’ to keep faith in our economy is a good thing, yet I think it should not be treated as lightly as it is being done right now.
I agree wit Tim, yes there are problems (the US is loaning their living standard together) and because of that a shift in world curencies (to Euro, Yuan) will take place. How quick that will hapen is in the hands of the Chinese that is funding the USA at this moment.
But a by far greater risk for the economy is pessimism, consumers should not get the idea that they need to postpone their expences/investments because that will be the real pain for the economy. And be frank, look around you and you can see that economically it is not going that bad in the Netherlands and Europe as a whole.
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