Irrational despair?
Jan. 30th, 2009 02:48 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
jim_pTrying to keep a business going in today's economy has one thinking a lot about the current state of affairs...
After reading friends' postings such as this one, I'm starting to wonder if maybe we're in a period of "irrational despair" as opposed to the "irrational exuberence" of the bubble years. Irrational exuberance says that the gravy train will never stop, this thing will last forever, we're gonna ride this to the top and beyond. Irrational despair says that not only is the gravy train not moving, it's rusted to the tracks and will never move again.
I've heard other say that they wish the media would shut up already about the bad economy because they're only making it worse. Part of me dismisses this notion... the media are just reporting on what's going on. Another part of me, though feels that focusing so heavily on doom-and-gloom does have a reinforcing effect on the cycle of despair that may or may not be warranted.
I just got back from a picture framing conference in Vegas. Many people talk about how bad it is even there... they focus on the big construction projects that have been stopped. On the other hand, my daily walk from my hotel to the conference went right by the construction site of a huge new hotel... and that job was not only still going on, it was running three shifts! Perhaps the casinos weren't packed 24/7, but they weren't ghost towns either.
Point is, there's still economic activity going on and if we stop trying to convince ourselves that it's so dead we'd better get out of the game we stand a chance of keeping it going and perhaps growing again.
Yes, the environment has shifted dramatically... lots of paper assets (and, by extension, perceived wealth) has disappeared. Okay, that hurts. It's understandable to sit there in shock for a while while it sinks in. But there comes a point where we have to pull ourselves together and take stock of what we *do* have and use it as best we can.
(like, maybe, having something framed and hanging it on the wall? It'll cheer you up and make you feel better, and you can take on the world! :) )
After reading friends' postings such as this one, I'm starting to wonder if maybe we're in a period of "irrational despair" as opposed to the "irrational exuberence" of the bubble years. Irrational exuberance says that the gravy train will never stop, this thing will last forever, we're gonna ride this to the top and beyond. Irrational despair says that not only is the gravy train not moving, it's rusted to the tracks and will never move again.
I've heard other say that they wish the media would shut up already about the bad economy because they're only making it worse. Part of me dismisses this notion... the media are just reporting on what's going on. Another part of me, though feels that focusing so heavily on doom-and-gloom does have a reinforcing effect on the cycle of despair that may or may not be warranted.
I just got back from a picture framing conference in Vegas. Many people talk about how bad it is even there... they focus on the big construction projects that have been stopped. On the other hand, my daily walk from my hotel to the conference went right by the construction site of a huge new hotel... and that job was not only still going on, it was running three shifts! Perhaps the casinos weren't packed 24/7, but they weren't ghost towns either.
Point is, there's still economic activity going on and if we stop trying to convince ourselves that it's so dead we'd better get out of the game we stand a chance of keeping it going and perhaps growing again.
Yes, the environment has shifted dramatically... lots of paper assets (and, by extension, perceived wealth) has disappeared. Okay, that hurts. It's understandable to sit there in shock for a while while it sinks in. But there comes a point where we have to pull ourselves together and take stock of what we *do* have and use it as best we can.
(like, maybe, having something framed and hanging it on the wall? It'll cheer you up and make you feel better, and you can take on the world! :) )
