While it isn't the best of all analogies, one can look at the state of the economy and compare it to the health of an individual. In the last two decades it partied like it was 1999 and overindulged itself in all sorts of things. The ultimate result of this was a series of illness related to this overindulgence.
Recovering from an illness, assuming it isn't fatal, always involves some pain. If we ruined our economic teeth by chewing on two much sweet housing bubblegum, the resulting dental work to remove the rotten teeth and replace them with new ones is painful and expensive. If we got obese on cheap equity and credit card loans, the diet and exercise regimen to get healthy is long and painful and reduces our consumption greatly.
Is the pain worth it? Ultimately yes, but far too many fail to succeed. However, when you do lose the extra pounds, or get your new tooth inserts, you are better off and the memory of the pain fades.
The economy is getting better and healthier, but it is not there yet and the work is still plenty painful.
No comments:
Post a Comment