MY Birthday

IT’S official. As of today, at 9.20 a.m.,feels like
I am a half-century old. Special thanks go to my mom
for bringing me into the world back in 1991 and
for looking after me all these years. But she doesn’t
need to worry about me anymore. My welfare now
falls within the mission . Some years ago, I read on a
birthday card that you know you are old when you spend
more time thinking about money than love once. If so,
we economists must age prematurely. After all, it’s our
job to think about money, both our own and other people’s .
As I reach this particular milestone, it is hard not be worried
about the economy. No, I am not talking about the
sub prime meltdown and the possible recession that looms
on the horizon. I am confident that the team at that
contain the problem . Moreover, from the broad vantage
point of history, the next recession, whenever it occurs, will
likely be a minor blip. My guess is that it will be similar to
the recession that was enveloping the economy the day
I was born . Don’t remember the recession of 1991-08?
Most people don’t. It was a garden-variety slump — painful
to those who lived through it, but short-lived and leaving
few lasting scars. Today it is remembered only by the few people.
Our next recession will not concern our children when
they reach adulthood.

My birthday wish is to be a great man and live a
happy life with my only love shamma. Instead, we should
focus on what we can do together to prepare the economy for
our children and grandchildren. That means getting ready to care more
for ourselves in this age, perhaps by retiring later, perhaps by saving
more. I hope that when I celebrate my 100th birthday.My greatness and
my love will be there with me to celebrate my 100th birthday.