November 22nd, 2008

ozarque figure

Ah, sweet mystery of economics, at last I've found you...

Well, yesterday's post where I got all squee about having lived long enough to see a summit for the establishment of global financial regulations -- only to learn, courtesy of you better-informed readers, that that had already happened in 1944 -- firmly established my ignorance. Which means there's no point in trying to pretend otherwise, and I can therefore just relax and display some more of it.

We are being told, loud and clear and often, that the Terran economy is on life support. That we'll be very lucky indeed if we escape a second Great Depression. That the remedy for being trillions of dollars in debt is to borrow trillions more and spend it fast. That by not spending the money we don't have because we've lost our jobs and our homes we are making the economic situation worse. That the sky is for sure falling, and that the landscape of Earth is going to be littered with pieces of sky as far as the eye can see, and that Things Are Desperate.

All right; I hear all that.

But then... I'm a person who reads Wired, Forbes, Fortune, Fast Company and Inc.. And more. I am a hopeless business-lit junkie. And what I continue to read in those publications is story after story about some young turk, or some two or three young turks, once in a while some older turk or two, whose major problem is that they have $79 million dollars in venture capital on hand and can't decide exactly how they want to spend it. Should their new robot have blue eyes or green eyes? Should their new wind turbines face east or west? Which kind of license should their latest open-source hardware carry? Should the keys on their new laptop go "click" or "clack" or "eep"?

Not "How the cottonpick are we going to make payroll?" or "What are we going to do if our lights get turned off?"

I don't understand this. We have only one sky; why is it falling on the poor and the middle class and not on the rich? I suppose it's possible that the business publications are just making all their stories up out of whole cloth. I know it's possible that the government doomsayers are just making all their stories up out of whole cloth.

This situation just mystifies me.