Depending on your personal attitudes, this may be the worst of times; Or it may well be the best of times!

As we listen to knowledgeable economic analysts, it appears that our economy has turned the corner, but on the other hand, the jobs picture is totally different situation.

Analysts who have very carefully examined short and long term economic trends are now quite confident that our economy is faced with extended years of an unemployment condition of 10% or higher. Unemployment will actually become the new "norm".

The following links indicate examples of an upturned economy with ongoing concerns:

Home sales rebound to highest level in 2 years Sales of existing homes bounce back to their highest level since July 2007, boosted by first-time home buyers. Prices continue to fall.
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The 'Frugal Consumer' Era Brings Major Changes to the US Economy
Recently, there have been increasing data points that suggest not simply a pull-back in consumer spending, due to layoffs and the U.S. economic outlook, but a fundamental shift in consumer spending that, if it continues, has the capacity to propel enormous, perhaps unprecedented, changes in commerce in the United States.
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"Recession sparks change in consumer attitude", a new report says "The economy has prompted most consumers to rethink their spending, but this reaches further than the recession, We are seeing a cultural shift toward value and practicality."

When consumers anticipate continued economic problems, it seems human instinct leads to two actions: (1) reduce spending altogether or (2) changing buying behaviors.

Examples of this include:

1. Using coupons for planned purchases
2. Consolidating shopping/errands to get everything done in one trip
3. Sticking to a budget and controlling impulse shopping

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My thoughts: #1 - It is time for us to get our business house in order.
#2 - It is also time to be realistic about your customers evolving attitudes.
#3 - It is time to recognize the influx of new competition that you should expect.
#4 - And you should be thankful that you are one of the few who can control your economic destiny.