The Eco 8

好消息:经济正在恢复,恢复是可持续的。

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There may be nothing exciting about the rate of rise, but any kind of rise is better than what we have gone through in the last year-and-a-half.

有时,将经济视为火车,而经济的不同,代表了构成火车的不同汽车。发动机通常位于前面,传统上凸出了后方。经济也是如此,因为财务指标的前进,而非住宅建筑通常充当守卫。图表截至3月,这列火车图片。您会注意到,大多数经济在A期(恢复)中都在上升。特别令人兴奋地注意到,财务基准现在正在阶段。

Phase A Management Objectives should be in place for companies that tend to move in synch with the general economy. A key objective to consider is placing capital equipment orders. Buying the equipment in Phase A will be far cheaper than it will be during 2011-2012. A great deal of both new and used equipment is currently available at attractive prices. Lead times also tend to be short at this phase of the business cycle. Think about equipment needs in terms of supporting extensions into new markets and/or reducing the labor content of your product.

Big-three topics

There are three big topics for all readers to prepare for as we move through 2010 and later in 2011. Each will require planning, as they will impact our budgets, planning and cash generation through at least the next few years.

Inflation is coming and we must start to prepare for that eventuality. Let’s review why we expect inflation: 1) the rapid expansion in the money supply; 2) past and projected increased demand for metals and other commodities, especially as the global recovery takes root; and 3) rising energy prices also due to global expansion, the green movement and a shift in the demand curve.

预计通货膨胀压力将在今年晚些时候和2011年影响您的业务。这将使您在库存购买,购买和人工成本方面付出更多费用。弄清楚您何时将价格提高并考虑到您的业务计划。通货膨胀压力也意味着我们都应该尽可能长时间地锁定尽可能多的成本。

由于这些通货膨胀压力,预计利率可以提高。迫在眉睫的利率上升意味着,如果可以的话,我们都应该尽快锁定利率,并准备在今年晚些时候和2011年无法锁定利率的情况下面临增加的现金流失。这是一个正常的周期性举动,但这是大多数人已经20年没有想到的。现在是时候开始计划增加业务成本的时候了。

税收构成了我们列表中的第三项。美国正面临债务山,这已经不是什么秘密了,预计未来10年的预算短缺将增加这一债务的10万亿美元。这些方案相当有限,因为国会可以希望通货膨胀能够解决这个问题(不太可能),从根本上削减了支出和/或增加税收。最后一个选项似乎是最有可能的。增加的税收负担将固有地限制您可用的现金,以重新投资您的公司或作为股息分配。

Alan Beaulieualan@ecotrends.org,研究所的主席e for Trend Research (www.ecotrends.org), in Boscawen, N.H.

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