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self-fulfilling prophecy. Especially when you are well-read or listened to.
There's a good chance that US and European economies will head into recession next year due to the tightening of finance but it's crazy for businesses with millions of dollars in the bank to cut infrastructure and spending now -- they'll push the economy down earlier and probably deeper than is necessary.
Don't feed the fear, folks!
I don't agree with Allen unsubbing from you either because I don't believe you can argue either side of the coin if you don't listen to both.
As for the worst ever week .. that is just baseless fear mongering talk Robert .. when people jump out of windows or put a bullet in their brainpan then you can start talking about worst ever. Let me know when you on the side of the soup kitchen or foodbank where you are being served then talk to me about the worst week ever but then you'll just be joining the millions of people who are already there long before your worst week ever.
No-one is asking you to put any lipstick of any shade on this pig Robert all I am saying that this excessive negativism isn't helping to ease anyone's uncertainity because we all know that this will pass but we have to start planning for that time now which means looking positively at what is happening now so we can learn those valuable lessons.
To suggest that I am only in this for a fight is insulting and pompous of you. Just because I am not a Scoble fanboi and link to every single one of your posts it doesn't mean that I an an ignorant idiot as you would like people to think I am. AS for not caring about people maybe I care more because I believe in our inherent ability to rise above adversity like this and come out of the other end better than before. I happen to believe that if you give people a reason for optimism they will rise to occasion and overcome adversity. If that is wrong then I am truly the idealist that no one thinks I am and you know what - I can live with that.
That is simply NOT true. So now YOU can kiss my ass. Thank you very much.
And this is in the worst week the stock market has seen EVER!!!! I think I should have actually been MORE negative, not more positive. Geesh.
I have taken nothing out of context because my context is what has been showing up on FriendFeed with your name attached. So would you like to try again Mr. Scoble.
You are not the fountain of all things of importance Robert. your work is not the seminal repository of everything of importance. It is too bad you can't get off of your high horse and realize that just because someone decides not to read everything you do doesn't make them any less of a person or even a blogger.
You got it wrong and the fact that you are continuing to attack me tells me just how interested you are in the truth.
Robert I will concede that I should have looked further into what you have written and in that way I was wrong. However much of what you have said that has shown up on the FriendFeed time line in relation to the economic down turn has been negative. I don't follow you hence my lack of interest in what you have to say.
I also still stand by what I wrote and have said in follow up to that. Plus for your information I do care about the truth.
I am a Pollyanna, as people go. If you want to see my own post from last week, see http://blog.stealthmode.com to see that I do look on the bright side. But I am also a realist.
We have to 1)try to see around the corner, and 2) not ignore the realities. If we had been more realistic,we wouldn't be where we are now. Not SV, the American economy.
Gee, why am I feeling so philosophical tonight? Hang in there, everybody ...As hardaway says, don't ignore realities but look for the good things around the corner.
First, I agree that comments that appear to only highlight one side are misguided. Most of what I find written, in popular blogs as well as in papers is immediate reactions on the events. It is 'fire fighting' using words. We should remember that these events did not spring up from vacuum. They are consequences of the way business has been done for far too long - as this post shows with specific examples. The fact that such ways of running business have not only been funded but also celebrated and praised by the same sources that cry 'foul' now shows that they are part of the problem.
This is a systemic issue. Technical business is no different in underlying basics from other businesses. So when those in finance see opportunities to make big money and fast, they go for it, irrespective of the sustainability of that business. Thus, the arena is populated with too many flashy enterprises led by big headed individuals and funded by greedy financiers. In the interim, the ideas for business that take time to get to market or have steady but average profits forecasts are overlooked. Why do I say that all this is a systemic issue? Well because this cosy set up created a feedback loop that operated as a virtuous cycle feeding on itself. Unfortunately, Virtuous Cycle is unstable structure and easily flips into a Vicious Cycle when the rules guiding feedback fall apart.
Therefore, yes life will be hard for all those who lived of fantasy proceeds for too long, whether they were crediting the 'fairy tale' enterprises or running them. For the rest, it will be tougher life but then they are resiliant and know how to deal with hard times.
And yes, the businesses that will survive are not populated with people who primarily look for higher financial compensation. Their employees, suppliers and customers are loyal and want to do business together. That will remain the case now and only bring them closer as credit crunch starts to bite all.