Tuesday, January 27, 2009
Blind Faith and Leverage: The New Hope
What will stop the relentless downward spiral of job loss, spending reductions, and more job loss? How will the recovery start?
If a recent meeting at a Starbucks is any indication, it will begin the same way it began: through blind faith and leverage.
The “meeting” was a loud brainstorming session among three would-be Anthony Robbins-type motivational coaches, hatching a plan for some kind of personal-leadership seminar, for which they had plenty of great, great, great ideas—to use the most operative adjective of the planning session—but, as the junior member of the triumvirate timidly pointed out, no capital to implement.
“Ah, not a problem,” the ringleader said, in the same, fast, every-downside-has-an-upside way he had been loudly but unintentionally sharing his plans with everyone within ten feet of the group: “We’ll use credit cards.”
He then explained how you could borrow all the money to market the event on “one of those no-interest-for eighteen months” credit cards, and afterwards pay it all off with the proceeds of the seminar.
Blind faith and leverage: the New Hope!
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Posted by Jeff Matthews at 8:43 AM