Waterbury Financial Strategies Inc CEO \/ Founder Rahim Thawer post this week “US Recession: Do we have a Lifeline?”<\/p>\n
Americans have always been in the front lines battling and fighting other economies’ challenges by providing loan assistant programs to foreign aid to even outsourcing of American jobs. Well, outsourcing jobs can be also looked at as adding to the American corporation bottom line, but at the end of the day, we contributed heavily in providing assistance in times of need. Are we going to see that gesture reciprocated from these countries? Obviously, I am not asking for them to contribute on the monetary aspect but rather on the trade side.<\/p>\n
I don’t expect the developing countries with limited resources to play a role in this arena but countries like China and India where the economies are not necessarily parallel with the US Economy but rather diverse in some aspects. I remember when India had so many graduates like doctors and engineers on the streets polishing shoes and running some business to barely put food on the table. Today, a number of American jobs have been outsourced to Indians from IT, Engineering to even medical field. These countries are not only taking over US jobs but also sending their professionals over to the US to create their presence here as well.<\/p>\n
It is time we re-think all the foreign trade agreements before one of these countries surpasses our economy and puts us in the backseat. This battle can very well be a one man battle but collectively we form parallel agreement and have similar mindset to tackle this issue. If we continue on the current path, I am sorry to say but it is a path to devastation. We are already seeing failures at all levels of organizations including the government. We need to adapt to new ways of thinking and also revisit our old traditions and heritage.<\/p>\n
The US Government is running out of money and if they are not careful we will be headed to another recession even before we come out of this one. There is no country out there that is going to keep lending us money at such a low rate whereas they can invest the same money in other countries and get a return of 500%, granted it is a risky investment but the returns are stunning. As citizens of this amazing nation, we need to take it upon ourselves to create lifelines in our everyday dealings and find creative ways to generate growth. If you are a small company operating from a remote location, go online and explore options to export your merchandise on the global market. If you are a consultant seeking a job in the US, think again and look for opportunities abroad. If you are an intern seeking a job, go work at a firm for free even if you have to go fetch coffee all day. Be productive, think outside of the box!<\/p>\n
My Thoughts: The only Lifeline America has is its people and freedom to practice Capitalism. If you have fear of failing then you have already failed. Do not fear and go for it. Even if you fail, so what get up and try again and again till you reach your goals. I will not wish you luck, because you don’t need it, you have the spirit of capitalism and entrepreneurship in you, so go out there and “Make it Happen.”<\/p>\n