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Economy will be just fine

Our Voice
The Times-Journal

Published January 23, 2008

It happened again Tuesday. Overseas financial markets struggled. The Dow ran a roller-coaster. The Federal Reserve took another swipe at interest rates. Experts and analysts spent the day ranting and raving about our economy.

We really have to calm down just a little.

We certainly understand economic issues can have a drastic impact on individual citizens. And, we understand Wall Street trickles down to Main Street – or in our case, Gault Avenue. What we also understand is the market sometimes can be driven by words and it has proven over the course of history to be cyclical.

We have full confidence the trend will hold true and things will rebound and be bolder and better than ever.

For proof, we only have to look at a report issued Monday by economists and experts concerning Alabama’s economy. In a nutshell, that report said we are doing better than many states. It also said we should expect modest economic growth this year, just a tick lower than last year but still above the rest of the nation.

Growing at a slightly slower rate than last year is nothing to be overly concerned about in Alabama, despite what we might read or hear on television. The sky is not falling. Actually, the sky looks just fine and we need to trust it.

President George Bush established an economic stimulus package that we believe will help the pocketbooks and wallets of normal, everyday Americans right here in DeKalb County.

We urge our Congressional delegation to quickly move forward with that plan to help ease any of the restlessness that might exist.

We also urge consumers to continue to go about their business. It’s easy, in a time when the so-called experts are screaming panic, to follow their words instead of understanding and believing in our economic model. However, if we continue to manage our own fiscal concerns they way we have for the past few years, we believe everything will right itself in the coming months.

What we have to remember is we control our economy, not those who continue to try to talk us into a panic.

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The Fort Payne Times-Journal | Publisher: J.D. Davidson

811 Greenhill Blvd.NW, Fort Payne, Alabama 35967 | Tel: 256-845-2550 | Email