Thursday, December 16, 2010

CEOs Speak on Meeting With Obama

Honeywell and Motorola's CEOs say they are looking for certainty of DEMAND for goods and services. The media keeps reporting that Obama wants business to go out and spend their money, which makes no sense at all. Business is not going to hire or invest until there is DEMAND for goods and services. Frankly, I don't think the demand will ever be what it was. Maybe that's wishful thinking. History tells us we'll bounce back as super consumers, more willing than ever to go into debt for material goodies that make us look good next to our neighbor.
For now, lackluster demand from Americans (we're saving, paying down debts, getting our financial houses in order) is why Obama always emphasizes exports -- selling our stuff to people in other countries.