ECONOMISTS MOVE SWIFTLY TO PANIC THE BUSINESS OUTLOOK
Geesh!
ONE negative credit growth number - one - and ONE weak retail sales figure and everyone wants to get out in front and predict that the great American consumer is dead in the water, all the worst fears realized.
A few key economists predict "gloom and doom" and all those with asymmetrical information about what is going on ... panic the business outlook.
Don't believe me? Here's one, long-term Venture Capitalist, showing what "not sure" translates to in the planning framework(s) for many asymmetrical decision makers:
My partner, David Aronoff, wrote a good blog outlining what CEOs should be doing to ensure survival. TechCrunch reports a similar note that angel investor Ron Conway has sent out to his portfolio companies. GigaOm reports that Sequoia Capital called an all-hands, emergency meeting with its portfolio CEOs to walk through a recommended plan of action. I have received copies of emails from a few other funds alerting their CEOs with similar messages. Take action now. Don't dither. Cut costs, cut projects, raise incremental capital, be proactive and plan for the worst.
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