Leadership & Performance Blog

The Economy, Business Performance and People

Co-authored by Mark Kamin, Marcea Wolf-Carter and Kenda-Le Pernin

The stock market crashed in March 2020 and the spread of the coronavirus brought business to a halt. To say that America was gripped by anxiety is an incredible understatement.

Although we have unemployment levels that are close to the Great Depression unemployment levels, the situation is completely different. When the stock market crashed in 1929, the circumstances were exacerbated by the Hoover administration’s dramatic fiscal policy response … they cut spending which resulted in even more job losses across the country. In contrast, President Roosevelt poured money into the economy by financing the New Deal and all of the work projects that created millions of jobs. Apparently we learned the lesson from the early 1930s. Trillions and trillions of dollars have been pumped into the world economy, stimulating employment, spending, and creating confidence in the future. We are not in a Great Depression and we are not going to be in a Great Depression. The confidence in the stock market is a reflection of the markets’ understanding that we are not headed for the abyss.

Since April 1^st Mark Kamin & Associates has interacted with over 1,000 business people and leaders from every conceivable industry. Read More…

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