Phil's observation about language

Phil made a very reasonable point today about language and attitude, and perhaps it's simply that in this context too the odd reality that bad news sells better than good news applies. And the further into a cycle you go (up or down) the more similar the "forecasts" and worldviews become.

There is certainly plenty of bad news to go around, and it would be crass to minimize the unemployment picture, for instance...but to Phil's point today... little or nothing was said about the dramatic inflation improvements announced in England last month, nor of the incredible improvement in the price of gasoline in the US in just a few short weeks time. Why anyone thought that a financial services and housing bubble was somehow less fragile than the internet bubble escapes me...but that's a separate discussion.

In the meanwhile, there are still real companies out there delivering real products and services and creating real value. Especially in manufacturing. The overall picture might be grim at the moment but panic decision making only makes things worse...and that's more difficult to avoid when all of the focus and even the language are negative.