CAN WE SURVIVE THE PRESENT DOWNTURN?
YES!!! .. AND NEW THOUGHT IS THE ANSWER!!!
By ROCK FURTADO
Around the world there is a lot of talk about the major shift that we as
mankind, along with planet earth are experiencing. At the present time
following is the main concern, occupying much space in every ones thought:
1. Near collapse of the stock market throughout the world.
2. Heavy toll on the financial institutions throughout the world
3. Insurance sector under tremendous pressure
4. Realty moving extreme south with buyer confidence at its lowest.
5. Pressure on families to keep up the relationships and make ends meet.
Humanity has stood at the crossroads often times during its evolution.
Sometimes it appears to be extreme. Whilst the financial downfall is bring
in its own challenges; any geophysical changes like the increase in the
number of earthquakes, volcanic eruptions, tsunamis, hurricanes and other
natural phenomena can shatter the confidence.
Why is this happening?
It is difficult to know all the answers but following perhaps explains
partly the reason for the situation:
1. The fundamentals of the stock market growth do not bear out the actual
valuation. Stock price increases throughout the world are a mere
speculation leading to a very large number of people involved in an activity
of making or losing money without the associated hard work and value
addition.
2. Financial institutions in effect do not add value and are merely earning
from the income generated by all other sectors. Perhaps greed for fast
growth in income has come to bother this sector, with very little chance to
make amends on the short term.
3. Insurance is selling a pie in the sky. It works on the principle that
claims will never be made on the premiums collected or a miniscule
percentage will ever make a claim. But one major natural disaster can
shatter and wipe out the business.
4. The movement of prices in the realty sector, either in New York or New
Delhi has no bearing on the actual costs of acquiring and developing the
property. The inherent "premium" has perhaps led to its woes today.
5. Earth warming and its associated challenges can lead to natural disasters
of a kind that we have never encountered in our lifetime.
What will survive in the future?
The fast moving information age has lead to every little bit of information
being available
"at the click of the mouse" to billions of internet users throughout the
world. Today, an average person has access to the actual cost of the make
of the car, or the house, which he intends to buy. In the same way, buyer is
now tuned in to know the actual price of most of the items which he intends
to buy. The need of the middleman is fast disappearing.
The industries that will perhaps weather the current storm and survive the
future may have to rethink and realign to function effectively.
Important criteria for survival may be that the business has to be for
common-good and not only good-for-self.
The price and service offered should align with the common perception of the
end customer that they are getting value for money.
Which industries may no longer exist in the Future?
According to Dr Sunny Satin PhD, the author of INCREDIBLY BELIEVABLE!,
following is a partial list of some of the industries or professions that
may no longer exist in the future:
1. Retail banking as we know it now
2. Insurance industry
3. Newspapers and paper magazines
4. Stock markets and stock brokers
5. Tax collectors
6. Public relations firms
7. Gas stations or petrol pumps
8. Mortgage brokers
9. Coal mining and coal-fired power plants
10. Chemical fertilizers and manufacture
11. Cable for TV or electric distribution
12. Landline telephones
According to Albert Einstein: "The problems that exist in the world today
cannot be solved by the level of thinking that created them". To move into
the future with confidence - absolutely new thought will be the challenge of
the time. Humanity has always proved itself and this time too, it is
unlikely to fail. There are enough thinkers on earth who will guide the
destiny with great aplomb and guts. Greed and Fear may never be in our
vocabulary in the future!!!
(ENDS)
Rock Furtado
New Delhi
9810095486
Email: [EMAIL PROTECTED]
25th October 2008
