No one will argue that the economy has gone from bad to worse, but one local financial advisor says there are opportunities behind the credit crunch and ways to pull through the tough times ahead.
With headlines describing panic, an erratic stock market and some going as far as providing tips on how to survive the next depression, people are bracing for the worst.
The credit problem is making it difficult for businesses to borrow money, the real estate market in some areas is unsteady and many investments have hit rock bottom.
Local experts say despite doom-and-gloom reports coupled with an uncertain government proposed fix, given time, things will get better.
“There is an awful lot of fear in the market,” Mark House, vice president/investments of Stifel Nicolaus in Camdenton, said. “Markets are cyclonical. One of the unique things about the last month or two, there really has been no place you can put your money that has worked but that is a sign typically that we are at or near the bottom of a bare market and the situation will get better.”
House said it’s nothing new. While it’s on a larger scale, what is happening now is similar to the late 80’s savings and loan crisis and the proposed solution then is comparable to today’s bailout plan.
In other words, the economy will bounce back, he said.
Contact this reporter at charisp@lakesunleader.com