Friday, August 31, 2007

"The sub-prime meltdown and the amazing three headed woman"

I just read this from Ken McCarthy.....

One way or another, we're all going to
feel the fallout from the sub-prime blues.
If you don't feel it personally, you
can be sure that some of your
customers will or already are.
Some banks that bought these crazy loans are companies are laying off thousands...things have gotten to the point that Bush is talking about bailing out borrowers.
That being said, the chief purpose of
being an entrepreneur - in my opinion -
is to develop the insight and smarts to avoid becoming a victim of the inevitable ups and downs of the economy.
Believe me, money can be made just
as easily on the way down as on the
way up.
It's a matter of mental flexibility
and knowing what you're doing.
As is true for many problems, the cause
of the sub-prime debacle also hold a
suggestion for the cure.
Now is the time for entrepreneurs
to start thinking about how they're
going to adapt to and even profit from
new market conditions.
(I say this as someone who survived
and thrived during...the slim pickings
early days of the Internet...the dotcom
boom...the dotcom crash...and the web 2.0
--- Think of it as musical chairs for adults
In the game "musical chairs," every
time the music stops, there's one less
chair to sit down on.
That's exactly what a contracting market is like.
It looks like scarcity. And it is.
But it's also opportunity.
Here's what I mean:
If you're one of the ones who ends up
without a seat, it's pain.
On the other hand, if you succeed
nailing down one of the ever-diminishing available'll have secured an asset that's even more valuable than when things were "booming" and seats were plentiful and
easy to get.
Here's a piece I wrote about where
we're at right now.
It's called:
"The sub-prime meltdown and the amazing three headed woman"
It's here:

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