Stopping to think about it, there’s no mystery why the Financial Slump is Moving From Wall St. to Main St. – many people are “fake rich” – money was made on paper – money that’s not really backed by anything besides IOY’s; as long as there was liquidity – it didn’t matter how much money there really was in the world (99% of all the money in the world doesn’t actually exist in Gold or Semi Precious metals – it’s virtual money that is (was) as good as real money as long as you could cash it in when you needed it for the real thing.
But what if you can’t? What if the well starts going dry? According to the New York Times article the effect of the Financal Slump really depends on where you are right now – what kind of wealth your holding.
“…For now, there are still pockets of prosperity across the country. Farmers are enjoying record crop prices as the adoption of ethanol makes corn a way to fill gas tanks, and as rising incomes in China, India and elsewhere spell growing demand for meat. The weak dollar is helping exporters and retailers that cater to foreign tourists.”
I know that in the Search and Web Analytics community, most of the main players are still going great guns and there’s plenty of work and demand – but one wonders how long that’s going to last given the way the Financial Contagion is spreading.
On the other hand, it’s possible to find people what lived in much harder times in the1930’s and yet, not everyone suffered – it kinda depended on where you were in the food chain.
However, one thing that no one has counted on fully is how much information now has a mind of it’s own, a life of it’s own -and that it doesn’t take that many people to be suffering for people all over the world to feel their pain – maybe that’s a good thing – because as much as we’re connected now via the Internet and World Wide Web – we’re also in our own realities much of the time – insulated from things like this: