BBC: Pessimism is the most serious cause for the global economic tsunami.
There is an ocean of people who are now feeling so depressed that not only have they become resigned to the fact that they are in deep trouble, but they have told everybody else that they are also in deep trouble.
Pessimism has an uncanny knack of being self-fulfilling.
No wonder almost every single quoted share in the world has gone down significantly, mostly by half, if not much more.
Even the most solid companies, such as HSBC, which has no real exposure; or BP, which has significant oil reserves; or a company like Dell, which has an enormous amount of cash - the shares of these companies have traded down considerably.
That is the barometer of our general pessimism. >>> By Sir David Tang, Entrepreneur | Wednesday, December 31, 2009
*Sir David Tang is the Hong Kong-born, English-educated entrepreneur who founded the clothing chain Shanghai Tang
The Dawning of a New Dark Age (Paperback & Hardback) – Free delivery >>>
