Earlier I wrote how people are begging God to save the economy. I guess everyone has a theory on what created the Wall street crisis, but morons that run Wall Street Journal have no clue what they are writing.
A clown by the name of Daniel Henninger says that the crisis is due to secularization of America. Hmmm…That means all the other secular countries of the world should be in perpetual financial crisis. “It has been my view that the steady secularizing and insistent effort at dereligioning America has been dangerous. That danger flashed red in the fall into subprime personal behavior by borrowers and bankers, who after all are just people. Northerners and atheists who vilify Southern evangelicals are throwing out nurturers of useful virtue with the bathwater of obnoxious political opinions,” he writes.
I hope anyone responsible for fixing the current mess is not listening to him; otherwise, we will be in this mess forever. It is so amusing that shenanigans of crooks in corporate America are being blamed on the religious beliefs of Americans.
I know it is tough out there for the economy and particularly hard for advertising/publishing business. Nick Denton has a doom and gloom scenario for the nanopublishing business. He writes, “From conglomerates to internet ventures, executives should be planning now on a decline of up to 40% in advertising spending during this cycle. Instead they’re sleepwalking into economic extinction…”
Nick, I understand how you want to turn your business around and have the data to support your decisions about Consumerist and Valleywab.
Unfortunately, you are stretching numbers for your business to the universe of other online advertising supported businesses. Please understand that despite some commonalities, there are so many other features that differentiate one business from others. And that is why while some businesses are doomed, there are others that are either holding steady or even thriving. Ours is one of them. The lesson is that if you build an empire on one vertical, say auto, finance, politics, or travel, you have a rough patch ahead, but if you build something that is more focused on lifestyle issues no matter how the economy does, you can ride out any recession without going out of business.