Showing posts with label Recession. Show all posts
Showing posts with label Recession. Show all posts

November 6, 2022

Dead but on Payroll?

If your sitting at your office desk, but are dead (inside or outside)...

Do you still collect a paycheck?  ;-)

(Credit Photo: Andy Blumenthal)


Share/Save/Bookmark

June 18, 2022

It’s The Economy Stupid

Please see my new article in The Times of Israel called "It's The Economy Stupid."
It is incredible that our leaders, economic advisors, and near endless pundits didn’t see what was surely coming down the road in terms of an overheating economy, inflation, and a spiraling national debt now over $30 trillion and growing. Despite economic signals even visible to the layman, the Fed continued to promise to hold the interest rates near zero “for years” to come. The cheap money and free-wheeling government spending became an avalanche with almost no adult in the room willing to stand up and say, “Stop the money madness! Government handouts are not free!”
Aside from the recklessness with which our economy has been handled, let’s not forget that there is a proxy war going on between the superpowers in Ukraine for the last four months, including a frightening blockade on grain shipments (i.e. food terrorism) to tens of millions of people. Further toward the east, China is upping the ante vowing to “fight until the end” for sovereignty over Taiwan. And in the middle, Iran is dismantling the IAEA nuclear monitoring cameras, adding high-speed centrifuges, increasing uranium enrichment, and threatening Israel and the West. Let’s just say all is not copacetic in the world, while a congressional select committee continue to focus on what happened on January 6, 2021 with the U.S. Capitol riots.

People are not blind, deaf, and dumb to what’s going on with the childish gamesmanship, politics of hate, and plenty of recklessness that is driving much of the national debate and (in)action in the country. 

(Credit Photo: Blink O'fanaya; adapted from https://www.flickr.com/photos/blinkofanaye/14913895723/)

Share/Save/Bookmark

July 26, 2020

Planning Ha Ha

Man Plans and G-d Laughs!
So in retrospect, in 2015, not a single person got the answer right to 'where do you se yourself 5 years from now?'

Where you gonna be in 2020?

Stuck at home for almost the entire year!

But you are a fortune teller and are so smart you should've rolled your dice in the ever exploding  bubble of a stock market.

Oh, that's right, you did!  ;-)

(Credit Photo: Andy Blumenthal)
Share/Save/Bookmark

July 12, 2020

IMHO Warning: Stock Market MAJOR Correction Imminent

I went to the mall today.

This is a few weeks into reopening phase 2!

I expected people would have pent up demand and be swarming the stores even while keeping their social distance.

They weren't at the mall! 

The stores were nearly void of people.

The shelves were virtually empty of goods.

Whatever merchandise there was seemed to marked "sale, sale, sale" even on the already deeply-discounted clearance items.

It was completely frightening--like the economy is dead or on severe life support!

Most stores had 3 or more associates standing around or sitting twiddling their thumbs.

This while the stock market keeps ticking up and the NASDAQ is reaching new highs almost daily.

Coronavirus is surging again across much of the U.S. and there is almost 140,000 dead in the U.S. after just 5 months even though much of the population was in self-quarantine.

The economy looks to me in sh*t shape, despite the U.S. pumping $3 trillion dollars more of debt to artificially prop up the economy and the fed lending out money at super low rates.

It makes NO sense for the market to be hitting all time highs as if everything is all roses when the economy is still a true mess!

The New Yorker magazine wrote back in May of a post coronavirus "decade of depression" with an L shaped recovery, yet we keep seeing a V-shaped one and no one seems to be able to offer any plausible explanation for it.

Two-months ago, even before the recent stock run-up to higher levels, Business Insider reported that "the Stock Market is trading at its highest valuation in 18-years."

Last month, Forbes reported that "the stock market appears to be reaching unsustainable highs."

Yesterday again, Bloomberg reported that the "economic recovery is faltering."

Almost daily, I read that companies are laying off their workers (in Travel, Transportation, Entertainment, Retail, Energy, etc.) or declaring bankruptcy (e.g. Hertz, JC Penny, Neiman Marcus, Chesapeake Energy, and more).

This while we are still, in the best case scenario, maybe half a year away from the possibility of a tested, approved vaccine. And then it will still need to be mass produced and mass distributed to hundreds of millions of people in this country and billions globally.

In the meantime, we certainly could be up for a second wave of Coronavirus on top of the flu in the fall/winter. And then the Coronavirus may mutate and become more virulent requiring annual vaccines like the flu shot--more hit or miss.

All this while U.S.-China trade war is imperiling our economy further, and arch-enemies Iran and North Korea remain national security threats.

To me this all points to that we are nowhere near out of the woods and perhaps that there is a wildfire raging and no one seems to be paying any attention!

The stock market euphoria is a common trap and is the definition of "irrational exuberance" but comes after investors have been robotically indoctrinated to buy the dips!

IMHO, buyer beware, beware, beware. ;-)

(Credit Photo: Andy Blumenthal)
Share/Save/Bookmark

March 19, 2020

Coronavirus - Something or Nothing?

I don't know about you but I have found the communication about the Coronavirus to be absolutely confusing.

And the actions demonstrating unpreparedness, disorganized response, general chaos, and panic do not match the few calming words we are getting. 

No wonder everyone is panicking and the bottom is falling from the market.

On one hand:

- The officials tell everyone to remain calm, and there is no reason to panic. 

- Help is on the way.

- People are overreacting.

- Most people that get Covid 19 won't even know they had it or the symptoms will be mild (or maybe moderate)

- The death rate is "only" like 3 or 4% and it's mostly older people or those with chronic ailments anyway (as if these people don't matter). 

- Younger children aren't really getting it (although we don't know exactly why or the impact on pregnant women). 

- It's less contagious and deadly than the flu (wait, it's more contagious and deadly). 

- There are plenty of tests available for everyone (no, there aren't).

- It will be over in a few weeks when the seasons change and the temperature goes up. 

- A vaccine will soon be ready for testing and then distribution after 12-18 months. 

- The numbers of infected are going down in China--see they have it under control!

- Maybe we should allow investigative drugs to be used (or maybe not, the FDA thinks this is a bad idea).

- The impact to the economy will be over probably by August (or will it?). 

- It'll ALL be over soon.

On the other hand:

- We don't know what we're facing (people are routinely using the words apocalypse and armageddon). 

- This could be the "big one!"

- Is this a punishment from G-d (and is the Messiah coming)? 

- This has reached pandemic proportions. 

- We are declaring a national emergency. 

- This may have come out of a Chinese bioweapons lab.

- Also, China suppressed information and initial response on this making the outbreak worse. 

- "China should be punished for these things" (or some version of this).

- Cases are raising around the world. 

- The contagion is worse than initially thought (there are comparisons to the Spanish Flu of 1918 which killed around 50 million people)

- The death rate is higher than expected. 

- We don't know why or where certain people got Covid 19 from.

- The hospitals are already overwhelmed and are unprepared for a real surge of cases. 

- We need to "flatten the curve" so our healthcare system isn't brought to its knees. 

- We are already triaging patients and our doctors and nurses are working extra long hours and are exhausted. 

- We aren't prepared for this--our healthcare system and government has "failed us". 

- We're rolling out unprecedented economic assistance from the Fed, the Treasury...another trillion dollar deficit (no answer for how this gets paid, if ever...can anyone say runaway inflation in the future and lots of worthless dollars). 

- Washing and "Social Distancing" are paramount. 

- There is a run on toilet paper and disinfectants and these are either sold out or vendors are price gouging these items. 

- We are shutting down the country (workplaces, fitness centers, eat-in restaurants, entertainment, travel, places of worship, and any significant gathering of people). 

- The instructions to stay at home in "indefinite"!

- People are stuck in the house and worried about how long this will go on. 

- Some places like New Rochelle, NY are under quarantine and the National Guard has been called out.

- There is talk of a curfew and further measures of quarantine to be enforced under penalty of imprisonment. 

- The lines at the stores (Costco, Sam's Club, Supermarkets, Groceries) are out the door and the shelves are empty. 

- Amazon announces that they are running out on consumer stables!

- Businesses are suspending workers, moving them to part time, and laying them off. 

- The stock market is down by 1/3 and we're told that this could just be the beginning. 

- A recession is looming and the economic impact and duration is unknown. 

- Italy is on lockdown. 

- Borders are being closed. 

- People can't get home from abroad. 

- Cruise ships aren't being allowed to port. 

- Airlines are screaming for a financial bailout. 

- Navy Hospital Ships with 1,000 beds each are being deployed to the east and west coast. 

- We're sending $1,000 checks (or something like this) to people below a certain income level (maybe $65,000).

- Taxes are supposedly being deferred (although not filing of returns or estimated taxes yet).  

- People are wearing masks everywhere (but we are being told only the sick ones need to wear it and we see everyone in China wearing it and of course our first responders and medical professionals, so which is it).

- Primary voting is delayed in some states and there is question whether the November Presidential election will also be delayed.

Summary:

Does anyone know WTF is going on around here???

(Credit Photo: Andy Blumenthal)
Share/Save/Bookmark

November 2, 2015

A Feel Good But Deeply Ailing U.S. Economy

Get comfortable with your salary, because it isn't going anywhere positive--payrolls are stagnant!

The Wall Street Journal reports that wages since the recession "have grown slowly, advancing at a pace of about 2% annually" for a total of 12% since 2009.

In contrast, in the 20 years prior to the recession, wages "grew on average better than 3% annually"--that's 50% more increase per year!

Sure some of the increase is now coming in the form of benefits growth, such as time off, subsidized commuting costs, and health insurance premiums, but workers still need to be able to pay their bills. 

For the federal workforce, things have even been worse with pay raises of "just 2% [total] over the last five years" and a proposed 1.3% (with locality pay) for 2016.

Is it surprising then the innovation--one of our greatest strengths--is also drastically slowing in the United States. We are not rewarding risk with reward like we used to--and that changes the whole innovation equation!

Also no surprise then that mergers and acquisition are booming as the key to corporate growth as well as cost-savings through economies of scale are seen as one of the only ways to wring out profit growth in companies bottom lines.

All in all:

While inflation is up an average of 2.13 over the same 10-year period.

- This leaves the average household more than 6% worse off then they were a decade ago...that's a lot of time to be working and getting negative returns on your investment of time and effort.

Combine this with:


Manufacturing down to only 9% of jobs in the U.S. economy

- The country's ongoing spending binge--a national debt that has doubled over 8 years from around $10 trillion to almost $20 trillion by 2017 and interest payments about to take off with rising interest rates.

- Throw in a arms-race with China and Russia and the aging Baby Boomers setting up the economy for dramatic increases in Social Security and Medicare

And the "fun" NOT is only just beginning. ;-)

Share/Save/Bookmark

September 14, 2015

The Unbelievable Stupidity Of Raising Interest Rates

Interest rates have been near zero since the recession of 2008.

That supposedly to stimulate the economy. 

However, aside from a stock market bubble again, not sure we have a much stimulated economy.

We have a false low on the unemployment rate, while the the true percentage of the labor force working is the lowest in almost 40 years!

Moreover, manufacturing is down almost 40% from the 1979 peak with a loss of over 7.2M jobs

Commodities are at firesale prices as demand is sluggish and there is short-term oversupply. 

And innovation is facing a global slowdown

So people are out of work, we're not making things, demand is depressing prices, and even ideas are few and far between--not too rosy a picture, regardless of what some politicians may have you believe. 

Let's not forget that we have an over $18 trillion federal debt, and this is projected to grow ever greater as we borrow to fund social entitlements such as social security, medicare, etc. 

In this scenario, why would the Federal Reserve ever want to raise interest rates?

Well, if they don't raise rates, then they can't lower them later again when the economy really stalls out and goes into deep recession. 

Hence, this is seen as a tool for their financial toolkit--and if there are no tools with which to manipulate the economy, then there is no need for a (neutered) Federal Reserve. 

But think for a second what happens when the Fed raises rates, it's going to slow the economy even further than the chug chug chug economy that we are already dealing with. 

Maybe even more important, it will raise the amount of interest payments we must folk over on the trillions of dollars of debt we owe.  

Simply put, when we raise interest rates, we pay more interest on our already astronomically high national debt, and this pushes our national deficit up even higher as we borrow more to pay the interest on the previous debt. 

If you did this with your credit cards, you'd probably be looking at the equivalent of debtor's prison sooner or later. 

Rather than feed the Fed's toolbox with interest rate bumps and drops, why not keep rates low as long as they can stay low, reducing our interest payments, and curtailing our national deficit and debt. 

What about the stock bubble...that's a lesson investors will be learning about in their own good time--it's the stock market, stupid. ;-)

(Source Photo: Andy Blumenthal)
Share/Save/Bookmark

August 1, 2015

Nothing Is Something AND Something Is Nothing


So the world financial markets continue to go haywire. 

The Uber glorified taxi service and app (with an almost half billion dollar operating loss) is now valued at--get this--over $50,000,000,000!

And commodities--you know the precious materials that REAL things are made off (gold, silver, copper, aluminum, oil, gas, coal, wheat, cotton, corn, soybeans, cotton, cocoa, coffee, sugar, beef, and more) hit a 13 year low. 

When the nothings of this world like a basic cab service become invaluable and the real things that power our homes, technology, transportation, and manufacturing become valueless--then we know a day of painful financial reckoning is coming. 

The markets can stand on their head for only so long before the blood rushes in and people become dizzy and see spots.

A reversion to the mean is the one something here that is inevitable, along with a pretty decent recession to boot. ;-)

(Source Photos: Andy Blumenthal)
Share/Save/Bookmark

July 2, 2014

Money, It's Something

Just an observation today about there being so much poverty in the Nation's capital and around the country. 

Homeless, hungry, and sick people on the streets in one of the richest countries in the world. 


Yet, we have trillions going overseas to fight wars with seemingly little to no tangible benefits.


And so much ostensible waste with pork barrel politics, inefficiencies, and failed projects. 


A relative joked with me the other day saying, "It doesn't matter if you're rich or poor as long as you have money!"


Here we borrow money ($17.6 trillion ) and print money and the Federal Reserve buys debt ($4.1 trillion ) to keep interest rates low and the economy churning.  


People from real estate mogul, Donald Trump to Economist, Robert Wiedemer, who predicted the last recession, are warning of dire economic consequences because of these short-sighted policies. 


So do we have real money to continue to burn or is it smoke and mirrors and as Wiedemer says, "the medicine will become the poison"--what do you think?


(Source Photo: Andy Blumenthal)

Share/Save/Bookmark

June 22, 2014

Why We Expect Nothing

I took this photo of a sign at the Metro station to the Reagan National Airport by Washington, D.C. 

"Expect The Unexpected" is the warning.


Don't be complacent--anything can happen--be vigilant--is the message. 


It reminds me of a Seinfeld episode where Jerry jokes about people going to the beach and hiding their wallets in their shoes.


Like, a criminal would never think to check your shoe!


Oh, push the wallet all the way down to the toes, under the tongue, that way the bad guys will never be able to get to it. 


Here, it's more a case of of why don't we expect the darn expected. 


Everybody knows that people "hide" their valuables at the beach in their shoes!


In modern times, we seem blind though to any expectations at all.


- Arab Spring and civil war spreading into Syria and Iraq--after Tunisia, Libya, Yemen, Egypt, and more--who would've thought?


- Russia taking over Crimea and agitating in Eastern Ukraine--after their little excursions into Georgia and Chechnya--who would expect that?  


- Financial meltdowns and major recession after the dot com and housing bubbles--even my barber was talking about retiring and buying a mansion in the Caribbean--where are these coming from?


The question then is are we really unable to see past our noses or do we just hold steadfast to principle that ignorance is bliss?


Well let's just test the "expect nothing doctrine" that we seem to all be living by these days and see how you feel about these:

  • North Korea--they would never invade the South again.
  • Iran--sure, they are going to give up their nuclear weapons and their greater Middle Eastern Caliphate ambitions. 
  • China--Yeah, we'll just pin them in the South China Sea and they'll never get out.
  • The national deficit--it's not and will never be too big for us to handle because we're rich. 
  • Terrorism in a major American city--not after 9/11 and all that Homeland Security.
  • Environmental catastrophe--we will build a big bubble over ourselves, so no problem.
  • Economic inequity--the top 1% deserves to control 43% of the Nation's wealth and everyone else just sit down and shut up.
  • The Singularity--how could a machine ever be smarter than us; we've got all the technology fully under our control. 

Well, if you are blind or dumb enough to believe these, just keep putting your money in your shoes at the beach, because there is no reason to expect that anyone would ever think to look for it there. ;-)

Share/Save/Bookmark

July 2, 2013

Dirty Little People

Popular Science had some scary germy statistics about how few people wash their hands well when coming out of the bathroom.

Take a guess?

Only 5%!

And that's based on almost 4,000 people they observed--but how many would've washed correctly if they thought no one was watching?

The dirty stats (while under observation):

- 23% didn't use soap.

- 15% of men and 7% of women didn't even use water.

- Average washed for just 6 seconds! (CDC says you need at least 20 seconds with soap and water to kill germs)

From what I've seen, unless their is a touchless water faucet and automatic towel dispenser, not too many people wash their hands--they don't want to get them dirty by touching the same bathroom devices that the other people just touched.

Another no-no for people is touching the bathroom door handle--more germs!

What do some people do--they use (wads of) toilet seat protectors to pull the door open--then guess what's missing for the next guy or gal?

Most public bathrooms are disgusting--if everyone could just have their own, they would keep it clean out of self-interest and maybe wash their hands a little more too. 

Next time we have a recession and need to invest in "shovel ready" infrastructure projects to keep America working--how about we build some (read lots!) clean bathrooms and throw in the automatic wash features, pretty please. ;-)

(Source Photo: Andy Blumenthal)


Share/Save/Bookmark

May 12, 2013

That's Not Window Dressing

I remember as a child, the nursery rhyme that went something like--"How much is that doggie in the window?  The one with the waggly tail." 

Now, it's not dogs or even mannequins in storefront windows, but people--looking for work. 

The job market and people's self-esteem has gotten so miserably low that they are resorting to displaying their jobs skills or just sitting and looking pretty in storefront windows in an attempt to get attention and get offered a job--or as my mother-in-law says in this humorous way, spelling out each letter, a J-O-B. 

In the picture at the top of this post, you can see one guy in the storefront window of the art studio bending wire--presumably for that long artistic piece behind him. 

However, it's not even just starving artists anymore taking this up as a marketing opportunity, as the Wall Street Journal (8 May 2013) reports--regular jobless folks in professions from lawyers, to tax experts, and even former CEOs are having to bare themselves in public displays to try and land a job offer. 

Those who have been unemployed for months and years are becoming desperate for work as one unemployed political scientist states, "I'm willing to try anything."

Despite it being so degrading that he "feels like a monkey...in a cage as people walk by and just stare at me."

Assuredly, it is a sad commentary on society when people looking for jobs and to earn a basic income are treated literally like animals in cages to be examined, made fun of, or even marveled at in a strange sort of way. 

Historically, in red light districts, scantily clad women have been exhibited behind glass enclosures to lure customers and money, but as most people would say "That's the sex industry!"--however, what starts off as okay for the such social vices ends up by extension as the new normal for our educated, white collar workers. 

Never-the-less, some employers are taking notice--they see these window displays of professionals, not as loafers or weirdoes, but as go-getters and even sometimes highly creative based on the sophistication of their window displays--with them in it. 

In the picture, the guy in the window with his feet up, glasses off, and soda bottle on the floor behind him is making a marketing statement about himself, but I'm not sure I would hire someone based solely on the callouses, corns, and bunions on their feet. ;-)

(Source Photo: Andy Blumenthal)
Share/Save/Bookmark

May 3, 2013

When Desperation Turns Deadly

It was shocking to read that suicide deaths in the U.S. have now surpassed deaths by motor vehicle accidents.

In 2010, there were over 38,000 suicides compared with almost 34,000 motor vehicle deaths (or 14.1 suicides per 100,000 people aged 10 and older versus 10.7 deaths from motor vehicles). 

Motor vehicle deaths have been, thank G-d, declining since 1999, while suicides are unfortunately up by almost a third (31%). 

Suicide for working adults were double other demographics (and highest for those in their 50's), while for teens and the elderly, the rates stayed flat. 

According to the Wall Street Journal (3 May 2012), for middle-age people 35-64, suicide is now the 4th highest cause of death after cancer, heart disease, and unintentional injury (e.g. drowning). 

Suicide prevention efforts that have typically been directed to at-risk teenagers and the elderly are now being looked at for greater focus on middle-aged adults. 

The article points to tough economic times (with the recession of 2007) as a potential factor in the increase. 

I would assume also that the 10 years of war in Iraq and Afghanistan have contributed to the increase as well due to posttraumatic stress disorder. 

Yet, suicide is a very final act of escape for those acutely suffering from economic hardships, the horrors of war, and depression--and we can only imagine how much pain these people must be feeling to do the unthinkable. 

I am familiar with teenagers and adults taking or attempting suicide--some have survived and others have died. 

For those lucky enough to survive, they have the opportunity to rebuild their lives and try again, while those who didn't make it, their loved ones suffer with the emptiness that was once a loving and caring individual, part of their lives. 

I was taught in Yeshiva that suicide is a very grave sin and people don't have the right to take the life that G-d granted them, but in my mind, those who suffer so as to attempt or commit suicide are probably not in a state of mind or in full control of themselves to be fully responsible. 

It is worth thinking about that if 38,000 actually commit suicide a year, how many more attempt it, contemplate it often, or otherwise consider it occasionally. 

People need help coping. I remember learning in English class in college that "all men live lives of quiet desperation," and I wonder how many are out there suffering inside--at times desperate, but usually putting a smile on their faces. 

We need to look beyond the surface of what people are going through, have empathy, have mercy, and give plentifully of your time, and kindness to all--you may just be saving a desperate life from taking that one last and unforgiving step. 

(Source Photo: Andy Blumenthal)


Share/Save/Bookmark

January 2, 2010

A New Decade, A New Time For Technology

As we enter the new decade starting with 2010, we should reflect on the last decade, learn from it, and redirect for a better future.

While the last decade surely brought much good to many, for our nation as a whole, it was a decade punctuated again and again by terror—wrought externally, but also from within.

These events range from the horrific events of 9/11/2001 to the failed attack on Flight 253 by the Underwear Bomber on Christmas day and the Taliban attack that took 7 unsung heroes of our CIA on December 30, 2009.

The fear of terrorism has swept through our society this past decade, so much so that we insist people remove their shoes at the airport for screening and are quick to mistake a photo shoot of Air Force One over the Statue of Liberty (just this past April) as another 9/11. The possibility of a terror attack, and especially with weapons of mass destruction, looms always in the back of our minds.

We have also experienced homegrown terrorism, such as the assassination of an abortion doctor in Wichita, Kansas and an attack at the U.S. National Holocaust Museum in Washington D.C. to name just a few.

As if all of this is not enough already, Americans have been deeply affected by other fearful events and issues:

· The Economy—From the 2001 bursting of the dot-com bubble and recession to the 2007 mortgage mess bringing us the worst financial recession since the Great Depression, we have seen foreclosure rates soar and unemployment rise to 10.2%. Too many of us now know the intense fear and also the reality of losing our homes and jobs.

· Health—Aside from traditional health concerns about cancer, heart disease, stroke and other diseases, this last decade we experienced concerns ranging from lingering concerns of Bird Flu to the newer variant of Swine Flu. We were constantly reminded of the potential of another deadly influenza pandemic such as the 1918 flu that killed 50 to 100 million people globally. People this last year lined up around the block for the H1NI vaccine, and delays in production and delivery of the vaccine caused even greater consternation among the populace.

· Energy—Oil prices peaked at $147.30 a barrel in 2008 before drastically receding. Overreliance of Mideast oil supplies, geopolitical disruptions, and natural disasters as well as peak oil fears all contribute to energy supply shortage fears and the move to alternate energy resources and energy independence.

· Global Competition—With the offshoring of U.S. manufacturing and the outsourcing of our job base, the recognition of the U.S. being surpassed as the economic superpower is on everyone’s mind, as the Wall Street Journal reported on January 2, 2010, “China is both making and eating our lunch.” We fear not only for our country’s future prosperity, but also for our ability and our children ability to earn a decent living anymore.

· The Deficit—With the trillion dollar wars in Iraq and Afghanistan, the cost of the Recovery Act and the new Health Care legislation, as well as ongoing critical entitlement programs such as Social Security, Medicare, Medicaid and so on, the national deficit has soared to over $12 trillion dollars and is about to hit the ceiling again. The viability of this deficit spending is sending shock waves through the American public who realize that at some point the bill must be paid.

· Environmental Issues—From addressing global warming to a green economy and the need for conservation, recycling and sustainable environmental practices, we have awoken to the fear of creating an environment that is no longer hospitable to human life, if we do not act to be better stewards of the planet.

This list is not meant to be comprehensive, but rather is meant to demonstrate the breadth and depth of issues to which we been exposed to fear, dread, and terror about our personal and national futures.

Further, the fear for the future that we experience is not meant to shut us down or demoralize us, but rather to direct our attention and redirect our energies to solving these critical dilemmas facing us all.

One of the biggest areas of hope that I believe we have is through technology. In fact, technology has been a major offset to the decade of terror that we have experienced. Through technology and the requisite cultural change, we have moved towards a society that is more connected, enabled, and informed. We have achieved greater information sharing, collaboration, transparency, and overall productivity. Advanced telecommunications, e-Commerce, online information resources, and entertainment have transformed our lives primarily for the better. Technology has helped solve some of the greatest challenges of our time—whether through biotechnology, food genetics, alternative energy, military defensive technologies, and hosts of engineering advances particularly through miniaturization and mobility solutions.

While we cannot rely on technology to solve all of our problems, we can use it to augment our intellectual and communications capabilities to better attack and resolve the challenges confronting us.

We are a strong and resolute people and we can overcome terror with religious faith, strong family and community, individual and national determination, sacrifice and innovation, all variety of technology (infotech, nanotech, biotech…), and the paradigm of continuous learning and improvement.

We have a unique opportunity in time to move from a Decade of Terror to a Decade of Peace—a peace of mind, body, and soul brought by a conquering of the terrorists found within and without. I believe that technology can and will be there to support us in this if we can change along with it.


Share/Save/Bookmark