Perhaps the only consensus that we can reach is that 2016 has been a very challenging year on every front from global and presidential politics to an ongoing death march by beloved celebrities.
To a large extent, elections and celebrity deaths have been set in stone by demographics, a little luck, personal choices and maybe God. Often there’s little we can do to reverse these outcomes but pray.
So, I have decided to focus on what I and others can achieve, which is to think of things that we may be able to agree upon that will bring us milliseconds (or longer periods) of happiness (which by definition is temporary).
Thusly, I have compiled a short list of silver linings that are things to be happy about from this controversial year.
Warning: the list follows the random logic of a disturbed mind:
- At a time when middle- and back-office managers and staffs are being squeezed to the max by every cost-cutting idea emanating from C-level officers, there are promising technologies that just might deliver promising results and improve your lives. Of course, I’m referring to blockchain/distributed ledger technologies (DLT) and the great promise there for clearing, settlement and more; the very real application of artificial intelligence (AI) technologies to several areas, starting with robo-advisors; and cloud computing, which is really beginning to deliver for many firms in multiple areas, despite intense skepticism when the cloud first arrived. All of these technologies could mean jobs lost or they could mean that Ops and IT staffs have to adopt new skills to optimize these inevitable advances. In addition, all the cost-cutting that has bombarded the middle- and back-office worlds could be rewarded next year with more allocations for new systems, new talent and raises for seasoned managers who have been weathering several storms.
- On the macroeconomics front, I think it’s okay to be happy about the Trump bump in the U.S. and other financial markets. Some prognosticators said his election would create a crazy global downturn spurred on by the uncertainty of his presidency. Thankfully, that prediction has not happened. In addition, no one wants another wrenching horrible recession. One Great Recession is enough for any lifetime.
- Along those lines, the growing uncertainty in other regions and financial markets outside of the U.S. is making the American markets look stable and secure in comparison. It also helps that the U.S. economy is continuing to show signs of continued growth even if it’s at a rate slower than what others would prefer; at least it’s heading in the right direction. Investors are increasingly voting for stability as Europe rides out a few populistic waves and ultimately decides the future of the European Union. It will be a while before things settle down in London and the Continent, which may mean a fairly long windfall for U.S. and potentially Asia-Pacific markets.
If the above list doesn’t work for you, feel free to create your own and find reasons for hope.
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