When everything seemed to be going so well, suddenly we found ourselves in an economic quagmire. Small business has to be run with commonsense – it looks like the same isn’t true for Big Business and Wall Street. In fact, it appears that commonsense was completely abandoned, along with time-tested business principles, in favour of a house of cards.
Recently WIRED ran an interesting article on the roots of the economic mess. It makes interesting reading for every small businessperson trying to understand why we’re in the soup: “Recipe for Disaster: The Formula That Killed Wall Street”
The bottom line? No manner of “Economic Stimulus” can save the economy from foolishness. Basic business principles and commonsense must prevail.