There may be a problem with the money
I am usually resistant to the notion that times are permanently changed. There seems to be a real trend towards making things sound as bad or as good as possible, and to feel that each new event is totally unprecedented. It’s in the interest of a large swathe of people to believe that. The media, both in terms of the traditional broadcasters and the internet echo chamber need to generate hype as hard as they can, and are interested in presenting things in that fashion.
At the same time, I have to admit that a 2,500+ drop in the Dow over the last month makes me a little worried. I know that stock prices have little direct economic impact on a non-investor such as me, but at the same time I also feel that it does have some barometric value.
(found on VentureBeat)
I particularly find the notes about advertising and mobile interesting. They are often claimed to be immune or shelters, but I think that if there is a real drop in consumer spending, that will have an impact. Even oil is down, there’s a 12% drop year-on-year for Brent Crude for September. It seems like there is a retrenching throughout the global economy, and the Valley is far from immune
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This entry was written by , posted on 10/10/2008 at 09:32, filed under Uncategorized and tagged crash, economics, oil, technology. Bookmark the permalink. Follow any comments here with the RSS feed for this post.