- Last post
- 62 Responses
I'd like to share the SkyPoo optimism but I'm way too much the realist for that. Having experienced the R word before I'd say that things don't go quite as SP thinks. No additional spending, no aggressive marketing, instead everyone just shuts down and makes do. Without money/funds/budgets no one spends on anything they don't feel they need. Also, if you have money you don't spend because you have the "just in case" mentality, where you don't want to risk your money just in case you need it later. That's because the end is rarely "in sight" and until it is, you don't play risk.
"I for one will spend the next few months learning as much about the financial system as possible. The investment opportunity of a lifetime is just around the corner.... Glory times!
Always see the positive, and save my money, and buy a bomb-shelter. Preperation is exasperation. Revolution in innovation... to the station.
The problem with these pessimistic outlooks is that they're very absolutist. It will absolutly be bad, and absolutely unprecedented, and we'll absolutely all be in the right old shitter.
But the world isn't absolute. Its a human tendency to see the world as less dynamic and multi-faceted than it actually is. Some things will change, some will remain the same, we will experience some difficulties and we will discover some new opportunites. Life doesn't stand still.
I started working in 1985. I'm not sure how many official recessions I've worked through but I know that each has been a rewarding experience in some way. I came out of college in 93 but had worked for the three years I was in college with no problems anyway. I was freelancing and over-booked in the late 90's downturn and employed in the 2001-2002 slump. I set up on my own during that one and made more money in 2003 than I've ever seen before or since.
Stop fearing change. Let go of the idea that money gets shuttled off into space never to be seen again. Its all there, its just staying put for a while. Then before you know it Khurram will invest in the opportunity of a lifetime and we'll all be saved from a pauper's grave.
- Beofre anyone says "hang on".. I worked from 85-90, did college 91-93, then back to full time work.SkyPoo
- Here here! :)
you speak a lot of sense Mr Poo...inspiring stuff when all around us is doom and gloom!nigo
- Its 'hear hear"...i hate it when people do that...thebottlerocket
- whatever...I'm a Jock so we don't follow your parliamentary goings on to the letter anyway!! ;)nigo
Hey, guess what happens if we all, en masse, take out income protection policies and then we all try to claim on them. Go on, have a guess.
- lol. i was only being mildly serious. A little foresight, tho, u ain't arguing against THAT are you?Khurram
- Not at all, but discretion is always good!SkyPoo
- depends who you take them out with spooky, if we all went for the same company there may be problems but many companies offer this.chossy
yeah, I know what you're saying SkyPoo and I began my working life in 1982 so I weathered a few recessions too and to be honest I didn't really notice them. But I am slightly worried that this one might bite me on the arse . . . and in this discussion I really do hope you are right and I am wrong. Certainly there is logic in your argument. It's just possible though that the world is neither absolute as you say but nor is it logical either.
There will be no return to boom and bust that's for sure.
"There will be no return to boom and bust that's for sure."
That's what they said last time...
You know what i find galling is the way every two-bit economist on tele is trotting out "it's the return of Keynesianism" "Keynesian economics predicted this" it's all about the "Keynes.."
when they spent the last 30 years destroying the foundations of Keynesian economics.
You know, IMO, the fault of this "recession" is OUR fault. It's the people who elected these political leaders demanding of them to provide ever more unrealistic economic prosperity. Boom and bust is the only system that gives you these dizzying highs.
- sorry, missed your note on the last line above!
- Aye, true.SkyPoo
- yeah, and our quick fix culture will demand boom and bust for eternity. They'll be philsophical about it.... "it's just a hangover!"Khurram
- hangover!" This is reflected in the binge drinking hedonism we have witnessed all around us the last decade. Which i thoroughly disapprove ofKhurram
- throgoughly disapprove ofKhurram
- sorry, missed your note on the last line above!
I was around in the recession of 1991 and some very good design companies went under then. Recession and advertising do not mix very well, never has done, and it's one industry that gets hit hard, But saying all this in 1991 the internet was not about, so it will be interesting to see how the Internet reacts to recession, and how that reflect back on advertising. It mite be a life saver for us all, and I might have to go back to web design.
"how the Internet reacts to recession"
Good point - I'd not thought of that but actually it will be interesting to see whether it is robust enough an industry to deal with recessionary pressure. I think the key is that with the internet the delivery route is free - so you can sit at home, advertise, update, rebrand whatever and it may not have cost you a bean. Obviously the degree to which you can do this "professionally" will vary greatly.
I think that some businesses that should have failed earlier will now fail, since there is less fat in the system to support dead weight businesses. I will be interested to see how other sectors deal with it, for example tourism or events etc.
the "R" word?
..like in "R"epublican.
Porn will always flourish
On October 21st Yahoo! said it would cut its staff of around 15,000 by at least a tenth. Given the internet firm’s woes—its third-quarter profit fell by 64%, to $54m, as online advertising withered—the cuts were perhaps inevitable. Equally striking has been a wave of lay-offs at much smaller start-up companies, which are bracing themselves for a coming recession.
At least the larger companies (even General Motors) don't cut back their product design activities in a recession... they are designing products for 5 years out, so have to be ready when things pick up..
"No one knows if we have reached the bottom of the cycle yet," said Dominic Proctor, the chief executive WPP-owned media operation Mindshare Worldwide. "Marketing dollars haven't dried up yet but they have slowed down in most markets and that will strangle weaker media."
I think you're mis-defining the word 'media' in this context. It actually refers to the publishers themselves who are dependant upon advertising revenue to stay afloat.
- waaaay late. that was aimed at the discussion about 20 posts back...paraselene
- who u talking to? what you referring to?Khurram
- i'm talking to you. basically, none of us here work in 'media' in that context. they're refering to the publishers.paraselene
- who are? where is that quote from?Khurram
- oic. I was referring to 1 aspect of design industry. The media is that which brings producers and consumers togetherKhurram
- all market is done via "media" of some form. Even tho that article referrs to a specific sector of the media (publishing/tv)Khurram
- (publishing/tv), i think its prescient as to the way advertising/marketin... responds in a recessionKhurram
- this is from an article that you quoted alongside your claim that people who work in 'media' are fucked.paraselene
- i'm just saying, i think you misunderstood the way they're using the term 'media'.paraselene
- i think you may have misunderstood me. But nevermind. Apologies if i seem argumentative.Khurram
- no! nevermind. i'm just typing randomly.paraselene
Shares - stock Market are down..ok....but, it is up to the Governments to speak and to organise a rescue. Politicians are here for the power but it seems that any of them can sort it out. In France, car manufacturers have to stop working for 2 weeks as some spare parts cant be supplied...it is a chain reaction.
Also, oil producters want to drop production as the price of the barrel is falling. We will face a situation of more demand and therefore another raise of the Petrol....a real mayhem...it is all about the power and the big powers dont care about it.....
Who needs money anyway?
I think if you bought a home you cant afford you should lose it. If you signed up for adjustable rate mortgages to keep payments low and only pay interest then you should lose your home. The government should not bail people out. For the last 8 years I have seen an insane amount of people out during the work day, shopping, eating, drinking, getting wasted and for all this time I have thought. Don't these people have jobs. Well they may not have jobs but all that purchasing is going on credit. Just buy what you can afford and save for what you want. Or freelance for what you want.
I VOTE FOR SPOOKY IN 09!!! EARLY WRITE-IN SENT!!!!
What have I done