The global economy is being remade before our eyes. Here's what's on the horizon
1.Jobs Are the New Assets
Remember when jobs weren't worth your small talk? Think back a year or two. Picture yourself at a cocktail party or maybe picking up the kids from soccer. How did the conversation go? You talked about your house. A new deck! You talked about your portfolio. Gotta go small cap. Did you mention how much pleasure you derived from bringing home a steady paycheck? Probably not. "Land was valuable, and capital was valuable, and labor — who cared?" says David Ellison, a Boston-based money manager. "The attitude was, As long as I buy a few homes and invest in a hedge fund, I'm done. I can sit in my chair and watch football games."
We now know how that ended up. Your portfolio is down 50%, your mortgage is worth more than your house, and your savings account is barely visible. The job, meanwhile, is making a roaring comeback. Not in a statistical sense, of course. We are in a recession, after all: at 8.1%, unemployment hasn't been this high since 1983. But in terms of the American psyche — and a household's balance sheet — we're rediscovering the job as the most valuable asset a person can have.
“It’s not the drinking. It’s HOW we’re drinking.” The Alcohol Advisory Council of New Zealand has some great print and tv adverts on creating awareness about drinking. Rather than being completely anti-drinking, they are making people more aware of HOW they are drinking. It seems to be an interesting and effective approach… take a look at their television ads here. Also interesting is their campaign about how its not just kids that drink too much, and show the mirror image of “grown ups”… see the ads after the jump!
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