Predicting the future - 2021
12/ 13/ 2020
GOOD BYE 2020
Well, we have made it through this historic year. No one could have imagined we would have survived the events of 9/11, the economic turmoil on the 2008 Great Recession, and now Covid19. The first 20 years of this century have already had more historical events than we would want, but with the sorrow these events presented we have managed to pull ourselves together as a nation.
This latest situation has touched us individually and affected economics. It is not surprising that we find private business coming to the aide of all. Development of vaccines and coordinating storage facilities and distribution logistics is fast coming together lending to hope that what we once called the "norm" will return in the near future.
Unfortunately, life has forever changed for many personally and in the business sector the operating "norm" will be different than 12 months ago. Many still plan to work from home which will create a huge commercial/industrial vacancy rate. This could greatly affect construction growth prospects for decades. Challenges in forecasting the future may change the landscape for many companies.
I was amazed at how accurate economists were on the forecasting the increased activity in mergers and acquistions in 2014/15. That has continued, and with the above it is expected more are on the horizon. American private business has always found a way to survive. Who would have thought spirit companies would make hand sanitizers, and that auto manufacturers would have refrigerated warehouses for holding vaccines for disbursement.
My favorite quote of all time from Bobby Kennedy: "Some men see things that are and say why. I see things that are not and say why not". CST WORLDWIDE has operated in that vain for decades in assisting our clients needs. This approach has allowed us to make changes in our offering to the credit industry for the betterment of the whole.
We welcome the New Year and let's hope 2021 is a year of success and economic rebound.