Economy 9 17 2009

A Difficult Economy What Should We Do? Asa J. Beck, CPA President, Cogent Strategies, LLC Member of Policy Committee, Coalition for a Prosperous America Cogent Strategies

What is Happening? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Banking System ,[object Object],[object Object]

Deteriorating Condition of Creditors ,[object Object],[object Object]

Economic Factors ,[object Object],[object Object],[object Object],Source : The Conference Board http://www.conference-board.org/economics/ConsumerConfidence.cfm Unemployment is a lagging indicator it should go higher before it is through

Economic Factors – U6 Unemployment ,[object Object],Source : Bureau of Labor Statistics http://data.bls.gov/PDQ/servlet/SurveyOutputServlet This measure includes those who have not looked for work in last four weeks and those that have part time jobs for economic reasons

Economic Factors – Manuf. Employment ,[object Object],Source : Bureau of Labor Statistics http://data.bls.gov/PDQ/servlet/SurveyOutputServlet Manufacturing employment has fallen precipitously over 5M jobs in 10 years

Economic Factors ,[object Object],[object Object]

What Can We Do  Make Adjustments ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

So What Can We Do ,[object Object],[object Object],[object Object],[object Object],[object Object]

So What Can We Do ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What Can We Do  Make Adjustments ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Denver Business Advisors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Trade and Industrial Base are Key ,[object Object],[object Object]

Our Borrowing is Out of Control ,[object Object],Source : White House Office of Management and Budget http://www.whitehouse.gov/omb/budget/Historicals/ US Census Bureau, Foreign Trade Division http://www.census.gov/foreign-trade/statistics/historical/gands.txt Estimates for 2009 are based on the Trade Deficit for the first seven months of 2009 as an estimate of the full year. The Federal deficit is for the fiscal year ending 9/30/2009 supplied by the Office of Management and Budget.

US Dollar Will Continue to Weaken ,[object Object],Source : US Federal Reserve http://www.federalreserve.gov/releases/h10/Summary/ The value of the US Dollar will continue to fall in relation to other currencies due to are large deficits making imports more expensive and domestic products more competitive over time.

Government Policies Impacting Economy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

We Must Make More of What We Use ,[object Object],From international Monetary fund 1980 to 2008 http://en.wikipedia.org/wiki/File:Cumulative_Current_Account_Balance.png

Trade Balance by Country ,[object Object],From United States International Trade Commission http://dataweb.usitc.gov/scripts/cy_m3_run.asp Country Imports Exports Balance Millions of Dollars 2008 China $337,504.2 $67,165.9 ($270,338.4) Canada $334,839.6 $222,424.4 ($112,415.2) Mexico $216,328.4 $131,507.4 ($84,821.0) Japan $139,112.3 $61,435.2 ($77,677.1) Germany $95,827.9 $50,150.5 ($45,677.4) Saudi Arabia $54,282.8 $11,845.8 ($42,437.0) Venezuela $50,281.2 $11,829.3 ($38,451.9) Nigeria $38,236.2 $3,990.6 ($34,245.6) Ireland $31,298.1 $8,080.1 ($23,218.0) 4759.--Italy $36,015.2 $13,896.4 ($22,118.7) Country Imports Exports Balance Millions of Dollars 2008 Netherlands $21,102.5 $37,076.2 $15,973.7 United Arab Em $1,267.5 $14,620.0 $13,352.5 Australia $10,534.8 $20,948.2 $10,413.4 Singapore $15,718.5 $25,655.5 $9,937.0 Hong Kong $6,496.3 $15,880.9 $9,384.6 Belgium $17,378.5 $25,768.7 $8,390.2 Turkey $4,641.1 $10,277.1 $5,636.0 Panama $373.7 $4,614.6 $4,241.0 Egypt $2,343.6 $5,969.8 $3,626.3 Chile $8,182.3 $11,366.5 $3,184.3

So What Can We Do ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Summary ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Economy 9 17 2009

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Economy 9 17 2009