Ellen McIlhenny - “The Smart and Savvy Exit – Season 5 Look Back
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It is hard to believe that Season 5 is coming to a close this week! It has been wonderful being with you on the Smart and Savvy Exit again this season.
Please reach out to me at ellen@cfoplusservices with any questions or suggestions.
You cannot listen to a business program these days without hearing the arguments about inflation and whether it will get worse, better or stay the same. All I know is that the price increases in gasoline and food (the two things that I buy on a regular basis) are quite noticeable. I heard just yesterday that the first few months of 2021 had the highest increase in rates since the financial crisis of 2008. We could be looking at an annual rate for 2021 of 5% or more. Now we did have a global pandemic, and yes that was not ordinary. The government started printing money at unprecedented levels (I never thought we would again see what we saw after the 2008 crisis).
I am surprised that people are surprised about what is happening. I have been talking for months about how eventually this level of spending would come back to haunt us. I am not saying some of it was not necessary, but I am saying that now is probably a good time to slow or stop while the economy has time to recover. We are now seeing, a pent-up demand for products and a supply chain that needs to catch up. I heard an analyst today say that once that happens prices will once again stabilize, and prices will normalize. The problem is that the growing debt will one day have to be dealt with, and if the guys and gals in Washington do not stop with the trillion-dollar spending packages, we could see a situation we have not seen since the late seventies and early eighties. Unfortunately, frugality is not a word known by many on either side of the aisle.
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Show Objectives - The Why
Today is the last show of season 5, and I will be doing a look-back of the shows for the past twelve weeks.
Written by Ellen McIlhenny
Owner of CFO Plus Services, a Fractional CFO services firm which also offers Back Office Bookkeeping Services. Author of the business novel The Big Turnaround; How Bad Management Nearly Destroyed an Exceptional Company. Check it out at https://thebigturnaround.com
You can connect with Ellen on any of her #cfoplusservices platforms or firstname.lastname@example.org
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