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Who Really Knows?
By: Dwayne W. Waite Jr.
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There has been so much speculation on the future of the U.S. economy that it is hard to say what really is going to happen. As the markets continue to fluctuate, each sector and index is saying something different.

Not too long ago, the consumer confidence was up to points not seen since 2007, pre-Great Recession times. Now, consumer confidence is up to levels near '08–'09. Earlier this summer the Dow reached 15,000 points for the first time in history. Then recently when Bernanke announced the Fed's future plans to ease the easing, the markets went crazy.

Money Magazine highlighted the economist who correctly predicted the 2007 fall, and the same economist is expecting something far worse than what we have already seen. Obviously that's not the most popular opinion around, which makes us think that we should look more into it.

As for the advertising industry, it is predicted to increase, with a heavy emphasis on digital. 

With all these opinions in the air, how does one plan? 

Carefully, we suppose. 

If you're in an agency, take a look at your client roster. How "recession-proof" are they? If the market tanks again, how will they fare? Like a smart investor that diversifies their portfolio, the same should be done for agencies. Do not get stuck in a single pool. 

As for brands, if you use multiple agencies, the same applies — could they withstand another fall? If you go down, which agencies would you be willing to keep working with, and which ones would have to part ways?

All are uncomfortable conversations. But better to have them now than to be caught unaware. Not again.


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About the Author
Dwayne W. Waite Jr. is partner and principal at JDW: The Charlotte Agency, a marketing and advertising shop in Charlotte, NC. He enjoys consumer behavior, economics, and football.
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