Well, it looks like the media and a few well intentioned politicians are blowing the trumpet of economic recovery. Interest rates are going up soon we’re told, so I suppose it must be true that things are all well again. Companies have just been through the capital raisings stage and are now about to enter into a frenzy of M&A activity, or so we’re told.
Looking back on the last 12 months of financial trouble and strife, it remains a mystery to ordinary folk like me how these things happen. This was recently summed up most wonderfully by one of the Australian Financial Review’s better writers Peter Ruehl.
‘Those of us with minor to moderate intelligence are still trying to figure out how we lost so much money while we were just sitting around having a few beers. Not only will we never get it all back; we’ll have to pay the government for the money it borrowed to cash up the people who lost it for us in the first place...
Then you realise it means using money nobody’s actually earned yet in an attempt to reverse a situation caused by people using money that was also never earned – and didn’t really exist to begin with’.
Magic.
Tony Heywood is a Sydney-based brand guidance counsellor, founder of Heywood Innovation in Australia, United Kingdom and India, and joint founder of BrandSynergy in Singapore.
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