Something Wicked

Depression isn’t a word used lightly. Something wicked comes our way.

Take this bit of a picture from Calculated Risk’s US Trade Exports and Imports Decline:

and how about this imagery from Time for a Reality Check:


According to the New York Times, the International Labor Organization said that by the end of 2009, 50 Million people could be jobless. And in the same post, the International Monetary Fund’s deputy director for research, Charles Collyns was quoted to be “expecting the global economic growth will reach its lowest point since the Depression.”

The ominous feeling is felt across every strata. Even as Twitter gets US$35 Million in venture funds, and Opportunity Knocks, even as some cry, “Web 2.0 Dies – Enjoy Hell,” the common battle cry: how do we monetize all this, and fast?

The news saying Philippine Star was bought by MediaQuest was a yawner and Cacho-Olivares’ quoted comment on it made me laugh and made me sad at the truth of it:

For Cacho-Olivares, such a multimedia push does not necessarily threaten existing papers. “It’s always a matter of content, credibility and independence that make a newspaper.  No matter how tech-savvy a newspaper is, in the Philippines, there are very few computers and while mobiles can now connect to the web, it still costs too much for the average Filipino.”

Did I just hear a sigh over at that back room?

This post from Howard Lindzon made me nod in agreement:

In the meantime, I must say, what a bunch of ‘Panzies’ old media has become. As for Telecom, they make me puke. We will be bailing both our soon with TARP at the rate they run their businesses.

What waste you know? The Philippines should really make a conscious effort to improve broadband and the mobile internet. It would sure be great to come out of this typhoon, better, smarter, faster, you know?

Then again, when elephants go to war, things like Mamanwa hold strong seem to slip off the cracks.

Read off Abs-CBN that there was a Leadership Elocution Competition and high school seniors delivered speeches on Leadership. I found it ominous and poignant:

For Chinese-looking (but purely Filipino) John Xavier Valdez from Ateneo de Manila High School, “Leadership is not about power or charisma. It is not social class or distinction. It is not about job experience or education.” 

In his grand prize-winning piece, Valdez said that leadership is “something that transcends age, class, social distinction, gender, even the shape of one’s eyes. Leadership is about influence, nothing more, nothing less.” He added that, “Under this definition, every man, woman, child, in this nation of 90 million is a leader in his own right.”

Great men and by extension— leaders, are willing to sacrifice to save the world. And their common denominator has always been to wallow in the past and obsess about the future. There is a reason why Command is a lonely pace to be. Great Men and Leaders, they decide and they do.

Of course, this too is just business:

World Bank explained in its statement that it conducted the investigation and banned the involved construction firms “To help the Bank safeguard the funds entrusted to us…This is why the Bank conducts its own investigations under its own administrative rules and procedures.”

Who would trust the World Bank if it goes on to destabilize however inadvertently, governments and nations?

The Washington Post had this a few days ago:

Geithner did not directly press other nations to adopt the same approach as the U.S., officials said. But in describing the U.S. response, he delivered a clear message to the other nations: Develop rescue initiatives sooner rather than later. And make them big enough to meet the challenges ahead.

“You’ve seen the new administration in the U.S. move with unprecedented speed, not just to work with the Congress to authorize new resources to help strengthen the financial system, but to move very, very quickly to put in place this very powerful economic recovery plan,” he told reporters after the meeting. “What’s important now is you hear around the world a much greater sense of urgency and commitment… We all recognize that the power of what we do individuadlly will be much more effective if we move together.”

Geithner’s message was well received at the international talks, known as the G-7, which gather the U.S., Japan and five major nations from Europe. Russia and world financial organizations also attended.

For Globalization to die, just as it did after the last Great Depression would be a serious mistake. The world is a better place because we each trade freely, where there are no fewer boundaries. Wouldn’t it be a nice step forward that as we celebrate our differences and diversity, we challenge each other in new and positive ways. And perhaps after this depression, the world can figure out a new kind of Economics and Politics that celebrate hard work and sacrifice and punishes greed and self-interest. A pipe dream, maybe. If King, sixty years ago did not dream then a son of a Kenyan wouldn’t be sitting on the White House facing unprecedented challenges.

Depression isn’t a word used lightly. There is something in the air that just says, “it won’t quit”. Don’t you think we should have a sense of urgency and commitment to face these challenges with open eyes?

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