I see this in the stock market still, but in a lot of smaller businesses as well. What ever happened to being able to produce a good product that is successful and accept that success? Why is there a constant need not for good results, but for great results? You can't report earnings - no, you have to report RECORD earnings continually, over and over again.
What has happened to common sense? Why can't people realize that the model of CONSTANT growth at high rates is not sustanable? If you have a living organism, and there is constant record growth - it is called CANCER, and if it keeps up it overwhelms and kills the organism.
In the past month, the DOW has taken a dump - but with my untrained eye I can't help but wonder if it isn't really a correction. Like the housing and tech markets - how overinflated was and is everything. (Speaking of which, how come oil prices have dropped by 50% in the past month, but gas prices have only gone down 25%? Oh yeah - to keep the huge profits and CANCEROUS growth going on in the oil companies.) How long does anyone think this could have gone on bfore reality set in?
I don't believe you can keep focussing on short term gains at the expense of long term investment. Reasonable profits yes. Controlled growth - of course. Reckless abandon - doesn't last.
I don't want to go through another depression, or even the current recession, but I do feel that something fundamental has to change. The unmitigated greed of the past 20 years has got to end, and sanity and rational thought have to return.
Of course the people who did get rich just walked away, leaving the taxpayers to deal with it - and the rich aren't the taxpayers - it is the dumb shmoes who work for a living and have bought reasonably priced houses to LIVE IN and have been paying their mortgages that have to pay for it. When do I get some relief?
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