Recession, Depression & Boom

Whilst there are banks collapsing, businesses collapsing, high streets emptying, particularly in Jersey as anywhere, and people tightening their belts business does go on.

Since September the speed of the collapse in economic confidence has been furious. And it is speed that is the essence. In the boom times speed was also of the essence because of the speed of communications. mobile phones, the internet, bulletin boards etc, everything had to happen immediately.

Now people are harking back to the thirties, seventies and early nineties. At all of these times things weren't as fast as they do today. So what is to say, and why isn't it said by the media, that the worst of everything hasn't already happened in the past 6 months since August. In the scale of communications of old all that has happened over the past six months would have taken anything up to four years. Of course there will be fingers burnt and spending habits will change.

But perhaps when the turn comes it will be all the more quicker and sooner than people think because of the speed of modern communication.

Obviously I don't know but it seems a logical thought and with interest rates low a moderate return to activity could be in the air in spring. Of course statistics and the media are always at least two quarters behind the event so reporting of it will not happen until the autumn or Christmas time.