As a group, Americans are not known for planning ahead. We have had a negative savings rate in this country for many years, until the Great Recession demanded we rethink our profligate ways. We’re borrowing against our futures as a country, in both the public and private sectors. If you ask a random sample of people what their long term plans are, they typically talk about events within a one to two year horizon. If you ask a random sample of stock analysts the same question in the morning, they will describe their observations and projections before lunch. So now that the advent of a slowing and possible downturn in our economy is upon us, the idea of planning ahead for current events seems contradictory. But that doesn’t stop someone from picking up the binoculars once the ship is on the rocks.
