Don’t Miss the Boat

I recently took boating classes.  (I digress.  I am not generally in favor of more regulations, but it boggles my mind that any yahoo can drive a boat with no training.)  I was talking to a good friend and experienced boater.  He told me the first rule of docking: “Never try to dock a boat at a speed faster than you’re willing to have your boat hit the dock.”  This time-tested advice is true in boating and is a good analogy where we are in the economic recovery.

I sense that fear is building in the economy.  Questions are being asked.  Is a second wave of coronavirus coming?  Will more lockdowns occur?  When will we have a vaccine?  Are there going to be more riots?  Are the elections going to be a disaster?  (If you’re not scared after the debate, you’re lying.)

Layoffs are increasing.  Banks are reluctant to lend to new clients.  All this adds up to an economy stuck in neutral that might even start to go backwards.  If your business made it through the first wave of coronavirus, you are being careful not to crash it in the second wave.  Everyone is proceeding cautiously.  Caution is good when you are docking a boat.  Caution is sometimes necessary when running a business.  But when every business is cautious, the economy slows down.  My gut tells me we are entering a period of being inundated with bad news and talk of a recession.  Persevere.  The economy might be heading towards the dock but it will eventually start to grow.  Don’t miss the boat.  We will have growth soon. 

Comments are closed.