standing the acquisition - I won't rehash any of the content so you'll just have to click and read.
Here's a line from a NYT biz blog that summarizes my hesitation - notice I've never said anything about it as a pure business decision...
"But buying a consumer credit business in the middle of a recession is very much a lottery ticket. Since bank stock prices are down, you can have a huge payoff if the one you buy has fewer losses than the market expects. But if its lending standards were lax, you could well lose everything."
Or as one reader commented, "Basically by buying Bill Me Later, eBay is embracing the consumers who can’t get a credit card, pay their bills on time, and are more or less irresponsible with their spending. Didn’t our financial system just completely go caput because of these same consumers?"…
way to sell news media.
The more scared you are, the more you have to check to see if there's still a reason to be scared.
It's very primal stuff (and very manipulative).
When you consider the fact that the folks in the News Media are all insecure (because their jobs are going away), it's reasonably easy to see the way their fears are amplified. It's a great big echo chamber.
Around here, the restaurants have waiting lines and the malls seem reasonably busy. There are a lot of vacant houses (where do those people go?). Since there's no banking or manufacturing, most jobs are reasonably secure.
I really like this chart (courtesy Brian DeGroodt) . It shows the ups and downs of the stock market (DJIA) since 1928. We aren't even close to the worst it's ever been.
So, like I've been saying, focus on the dream and make room for it to come true. This is a powerful time to get clear about exactly what you want. It's a skill that will serve you in any economic climate.
If you believe that your dreams can't be fulfilled, then they won't be. The hardest time to dream is when everyone says not to.…