The Crisis in Confidence

                  

This week on CNBC I discussed what we at NJCB are hearing and seeing from our customers… Clearly there is a crisis of confidence… 

We have heard questions like:

  • Should I cancel the contract on the home we just made an offer on?
  • Should I be looking to cut back on my staff? Even though I just made some hires?
  •  We are in contract to acquire a competitor, should we cancel?

Our answer in each case is to step back from the noise of markets and make decisions based on your own individual circumstances. If your job is secure, you  have a bit of savings and your own personal situation hasn’t changed, then why would you let the noise around whether the US raises the debt ceiling or not, or the S&P Downgrade, or the debt crisis in Europe, challenge your decision?

We live in a challenging economic, political, regulatory, and global environment. 

However, this may be one of the best times ever in history to take advantage of the vast opportunities that lie before us… Never before have we had interest rates so low, or assets in some cases so depressed…Those who can see through the fog of the media, and the endless distractions will be the winners in this environment.

Jamie Dimon, CEO of JP Morgan Chase describes America as having the greatest economy in the world, and advises Americans to stay optimistic despite the drop in the market. You can watch the full interview here:?video=3000038447&startTime=28&endTime=106

As reflected in our Second Quarter Report, we still continue to grow our loan portfolio, open accounts, and acquire new client relationships. To learn more about NJCB, you can visit us at www.njcb.com

We at NJCB have not changed our game plan because the market is up or down on any given day… Neither should you…

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