Don’t talk yourself into tragedy

At yesterday’s Annual Dinner of CEDA, Glenn Stevens, the Reserve Bank (RBA) Governor shared these wise words in his conclusion:

“…given the underlying strengths of the economy, about the biggest mistake we could make would be to talk ourselves into unnecessary economic weakness. Yes, the situation is serious. But the long-run prospects for the Australian economy have not deteriorated to the extent that might be suggested by the extent of some of the gloomy talk that is around.

…We ought to go forward with some quiet confidence in our own abilities and in the opportunities that are on offer. I wish you all well in that endeavour.” Read his full speech on the RBA website.

As I said in my recent article “How To Survive The Recession“, 20% unemployment sounds bad but that means 80% of people have jobs. Keep perspective, focus on the realities of your situation and take advantage of opportunities to strengthen your financial and lifestyle security.

Like Glenn Stevens, I wish you all well in that endeavour.