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Next Year Will Be a Better Year

When the ball drops at midnight and we say goodbye to 2009, look ahead with us at what we may hope for in 2010. All together now: We resolve to…

…get everyone (who wants one) a job. Unemployment benefits will run out for millions this year, but corporate profits are improving. Let’s turn this combo into a stronger job market.

…be a little more sure of our “recession is over” pronouncements. We’re talking about folks like Ben Bernanke, who talked of “green shoots” in March, but later pulled back from that. Or people like Larry Summers, who said that “everyone agrees the recession is over,” only to be followed up by others in the White House who softened that statement.

…continue to save and spend smartly. From zero percent savings rate to 8 percent! Good job everyone. Here’s to more of that pocketbook prudence in 2010.

…get home loans on surer footing. No more blank checks, but also less paranoia by the banks around lending. Let’s find an appropriate balance so that no one’s left hamstrung.

…get small business lending back to normal. What’s normal? In this downturn, small businesses haven’t driven the disasters. If banks can get more comfortable with lending to them in larger numbers (and better terms), again, small businesses may possibly fulfill their designation as a key driver of growth.

…not go back to our old bad selves. Yes, the indulgences were a trip. But, hopefully, we became so much richer in more meaningful ways this year. Let’s hold on to that.

Happy New Year!

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Tags: 2009, 2010, banks, economy, lending, new frugal, Small Business