Funda-mentalsSeptember 4, 2019 -
Categorized in: IAG News
The Green Bay Packers begin their 2019 season against the Chicago Bears at Soldier Field tomorrow evening.
The remaining players have survived numerous mini-camps and a long training camp which prepared them for the regular season. All of those preseason camps are designed to reinforce the basic fundamentals of the game.
Teaching players to instinctively use optimal strategies for ball handling, body positioning, and foot work should free them from thinking about those fundamentals during the regular season.
Yet we know football players are human, and sometimes mental mistakes create fundamental problems.
The U.S. economy is facing a similar funda-mental challenge right now.
Fundamentally, our economy is functioning fairly well. We have 1 million more job openings than we have unemployed people according to the Bureau of Labor Statistics. Our economic output grew at a 2% annual rate in the second quarter which is normal relative to the last few years. Despite widespread expectations for a fall in corporate earnings, U.S. companies grew their earnings by 5% year-over-year in the second quarter.
There are certainly challenges with trade and tariffs, but relative to most developed countries around the world the U.S. economy is fundamentally solid.
Mentally, our economy is struggling. There is a significant underlying fear in Americans that the future could be worse than the recent past. Many believe it has been such a long time since the last recession there must be one just around the corner. These flames have been fanned by the media’s obsession over negative economic news.
When Americans believe the future is grimmer than the past, they prudently scale back their spending on major purchases. As more Americans scale back, companies become less optimistic about the future and scale back on hiring or investing in equipment or buildings. Scaling back reinforces Americans belief that the future could be worse and a negative self-reinforcing cycle begins.
Americans are only human, and sometimes their mental mistakes can create fundamental problems for our economy.
Hopefully focusing on the fundamental (instead of just the mental) can create a positive outcome for the Packers and our economy in the coming year.
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