This weekend, Hurricane Irene made its way up the East Coast hammering certain cities and towns (Wall Street was spared) with winds, rain, power outages and floods.
As the rain has moved past New York City and Long Island and wind gusts have subsided, it seems to me that we can learn some things from the experience that relate to the government's current handling of the economy.
Here are the 5 lessons learned from Hurricane Irene.
#1 - Prepare For The Worst, Hope For The Best. The government reviewed the weather forecast and decided to order mandatory evacuations and advise the public to stay indoors. While certain areas survived unscathed, the advice was necessary and probably saved lives. Our upcoming economic forecast includes a potential double dip recession, an unsustainable entitlement system, a European banking crisis, a persistent housing depression and a highly volatile stock market. Will these economic forecasts turn out to be accurate leading to the perfect storm or inaccurate leading to sustained economic growth? We should learn from Hurricane Irene and prepare for the perfect storm.