Warren Buffet is only partially right about being in a recession

Warren Buffet is right that our country is in a financial recession.

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Warren Buffet is only partially right about being in a recession #1
Jobs are down, home prices are down, food gas and oil prices are up.

Inflation will be on the rise.

Withal, the real recession is one of mindset.

The key to succeeding as a country is to embrace our failures and learn from them.

The following are failures that we can learn from and turn into assets and successes:
1. Infrastructure – sound governments and sound companies need to keep rebuilding and renewing their infrastructure. Without a good infrastructure we lose the foundation upon which to transact and to connect in the most efficient and affective way.
2. We may win the battle but lose the war. Wars without a planned end game. Our troops have fought admirably and with great dedication. Going into other countries needs better planning as to how to get out.
3. Oil dependency – it is has been clear for some time that we lack any definitive strategy as to how to reduce our dependency on foreign oil. We will increasingly be competing with China and other countries for oil. The lives of Americans will keep being effected by both supply and demand fundamentals as well as by speculators.
4. Political promises –again we are listening to promises by politicians that will can and never will be fulfilled. Politicians are constantly promising that the government will continue to write checks as band aids to cover up the real problems that we are facing as a nation.
5. Lowering of standards – we are too often lowering the standards of what it means to be an American. We are allowing financial institutions to promote us with fine print, unrealistic mortgages, and the allurement of credit that we cannot afford. We are currently suffering from predatory lending practices.
6. Education – we are also lowering the standards of education. We are too interested in paying huge sums of money to celebrities and athletes rather than creating a merit system that awards and rewards great teachers and excellent teaching assistants.
7. Jobs – we are constantly exporting jobs to other countries especially our manufacturing. Countries that export the manufacturing capability within time will decline.
8. Job training – instead of giving money to others in a broad dole to stimulate consumption we should be teaching those out of jobs how to learn new skills that can be applied to building our infrastructure and our manufacturing capability.

We have reached a point where we should not run after politicians making promises that have no economic reality.

We should embrace our failures and like successful entrepreneurs and executives turn our failures into lessons for success.

Most importantly, we need to go back to the mindset of our founding fathers. The founding fathers risked their lives to earn freedom and to earn a living by working hard. The country grew without taxation and representation. The country grew because there were practical standards of living. There was a promise of equal opportunity not a guarantee of equal outcome. Surely, the exception was slavery. However, the overall mindset was not to accept failure but to embrace it and turn it into success against the British and all foes until our recent history.

I believe totally in the ability of Americans to face some of the unfortunate occurrences in our time.

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