Daily Archives: October 11, 2008

Black Friday, melt down Monday…..

If the newspaper’s and other media sources have their way we will all be taking one too many sleeping pills or sharping our knives in the coming weeks as we enter even greater financial disasters.

As with some many disasters and tragedies that have befallen the western world in this century I am personally reaching saturation. I am tired of the retrospective, repetitive reporting, the inaccurate predictions.

This does not mean that I am not aware of the potential implications of the falling shares and collapsing banks. It is serious and will have implications for many directly and indirectly. Heaven help the pensioners and fixed income retirees.

However, what I am completely and totally aware of is if this cataclysmic predictive reporting continues it will definitely lead to it becoming a reality.

Despite vast amounts of theory espousing our capacity to make rational decisions, the Market in fact is dependent upon this ability. However, human beings are not rational, particularly when uncertain and lacking in confidence. We make decisions based on emotion on the whole and the current reporting is heightening this emotion in some and deadening the desire to engage in the process at all in others.

There is a need for a calming influence. To stop the headlines – Melt down Monday, Terrible Tuesday, Woeful Wednesday, Torturous Thursday and of course the very unoriginal Black Friday.

Without leadership from the influential people in society, confidence and honesty things are going to continue to become more and more difficult for us all.