We’ve talked about the economy many times, but with recent events such as what’s happening in Europe, the lowering of the American credit rating and the wild swings in the stock market, it’s getting tough to not react in some way to the news of the day.
We’ve seen cases where the market had gone down by 200 points, then rebound, but I can’t remember seeing it go up and down by 400 or 500 points so often.
People just don’t seem to have a clue about where it’s going to go. About the only thing that remains a safe haven’t is gold. I think the stock market is like the housing market in that you have to dedicate yourself to being in it for the long haul because it’s pretty tough to time the market.
As far as the golf industry goes, we’ll still have people looking for a membership or playing every weekend. I think they’re still going to play, but maybe the purchase of a set of irons or golf vacation is put off for another year.
There have been a lot of temporary setbacks over the past five years or so and I like to think that they’re temporary. What goes down, must come up and what goes up, must come down.
The important thing is that, like the housing market or the stock market, we’re in the golf industry for the long haul and these temporary setbacks have a way of evening themselves out.
