Most folks will not have particularly fond memories of 2008. Even those relatively untouched by the economic downturn had to be concerned by the wide extent of the reversal and undoubtedly had someone close who was adversely affected.
The most difficult economic situation in decades left Americans worried because so many institutions from the largest banking/financial companies to seemingly highly successful retail goliaths to most of the financial markets suddenly were struggling or even disappearing.
Financial and housing market declines on the national level sent repercussions driving down into Main Street markets, producing instability and slowdowns in even high-performing areas such as Murfreesboro and Rutherford County.
The degree and breath of the problems resulted in unprecedented governmental action to shore up various sectors of the economy. While particular pieces could certainly be argued, the need for serious federal assistance was absolutely required.
Much remains to be done, and for good or bad will have to come from the federal government, the only entity with the power and reach to provide an answer.
Looking to Washington, D.C. for an answer has not been especially productive much of the time, but we have no choice and must trust in a promising new president who takes office later this month.
A new year is always a time of hope, and this year is especially so. |
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