No News is Good News
- Newsie
When i was 21 I was hired as account executive with an investment house, i sold jumbo certificates of deposits. I dealt with credit unions, banks, savings and loans portfolios. I cold called all day and either found the institution that needed money and would offer attractive rates, or investors. In order to be proficient at what i did i studied for my series 7, which enabled you to broker higher risk investments (you have to know about other investment vehicles to sell yours ). It was an exciting time in my life, and a type A position. When you decide to matriculate as an economist you learn from the past, and we studied “The Great Depression”.
Now back in the 30’s we were not the “Information Age! we relied on little boy newsies…we weren’t inundated with faxes, emails, conference calls, video conferencing, texting, pda’s, cell phones, satellite phones, world wide web, podcasts and CNN. Sensationalism is where we’re at right now…
We learned what caused the great depression.
RUMOR+FEAR+SCARCITY+PANIC = Run on banks….
You see there are the board meetings that hear all this babble, and they say hey we should cut our budgets, because some guy says so. The first things that are cut are is the discretionary dollar ie: travel seminars, bonuses, jobs, raises, and that trickles down to us…price rise, housing, goes down, banks get stringent…..So you see we are all connected.
I implore all you CFOs and CEOs to stop watching the news, and economists…to me an economist is like a weather man always speculating, and getting paid for guessing. All you Doom Sayer’s are in your position of scarcity, because you are being guided by self limiting beliefs which in turn causes self limiting results. What you believe you conceive, as simple as that. there is enough in the world.
“CHANGE YOUR PARADIGM- CHANGE YOUR LIFE!”
~Julia a. Renfro
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