I have not attempted this thing in years, but sometimes you must just express some of your own sentiments; all without dragging Anyone else down with you. I simply want to identify what I think is wrong with the World. The first thing is to consider the last two Booms, and then find a way to express what need be said. The last two Booms were always about Expectations, never about reality. Everyone invested upon potentials, never on recorded Profits or realized Advantages. Investors always sought the golden opportunity, never accepting the dismal Present with its miniscule performance. Everyone condemned any form of a Safety net, exactly at the time for which such Nets were designed; when Everyone was hazarding Risks that they could ill-afford to lose. Risk-takers insisted on less and less moderation along with scrapping old-time regulation, simply because they restricted Movement--exactly like Seat belts.
The entire philosophy infected all of the economy of the Times. Labor practices are a Case in Point. Managers hired, not based upon current needs for labor, but for a concept of future potential needs. Consultants were hired, even thought most Consulting work required only a minimal study of the Internet. Investors threw loads of Cash at Managers, who had to justify the funds, and hired and spent based on the need to show activity; all awaiting the predicted potentials ahead. The trouble came as the potentials for slow to arrive, and came mainly only after the development of a Sales and Distribution network to generate the necessary Sales of Products; a eventuality never arrived at because the potentials stayed at home.
Everyone today wants the Good Times and high Wages of the previous Booms, yet those pesky potentials have still not arrived, and Investors are looking for Profits and finding few. Managers are worried about keeping their own Paycheck, so the Hiring has declined; with the reversal not presenting any greater safety for the Managers' Paychecks. Investors are looking to get the Money out which they put in, and are turning very restive with the notification that Properties still have not reached their potentials. Part of the real problem was that the Investments were made with Profits made under the potentials Boom, and were as vaporous in actual value as are the current Profits based upon Downscaling. It is a Wonderful Life. lgl