Maxys Max Media and Entertainment

New Years Resolution

I had to laugh, on New Years Day my brother's resolution was to help break everyone elses.  Wiser then at first account, the knowledge that recent research shows that it takes two years of constant application to develop a new instinctive habit.  I suppose that's a lot better then being set in your ways from early childhood but it certainly dispels the myth of effective sudden change.  More successful, for example, is slowly dropping from three beers or coffees down to one. 

Anyway, don't you think it's funny how we make New Year's resolutions - as if, just this date is enough to signify a changing tide.  I suppose the New Year gives you the opportunity to reflect on the last year - how much has changed?  In reflection what did we have?  

The Year That Was

Without doubt when we look back in years ahead it will be the financial market meltdown that will be etched forever in the time line of mankind.  From what I understand what started out as a good meaning US social/ political plan ten years or so ago to provide subsidised housing loans to the poor (who could never repay) escalated into an ever widening chasm of poor financial accountability and management. 

As usual somewhere in the process good old fashioned greed and the prospect of easy money crept in and spread like an airborne virus in a wind storm, undetectable in it's clever disguise through the productization of financial derivatives and products - at its root "credit" - no rocket science here! 

What is surprising is the reaction to the level of drop (around 40-50%) - as the sideline analysts now say the market was ALWAYS going to correct, a bull run for 15 or so years is unsustainable.  Yep, it's all just basic economics  - don't borrow more then you can afford to pay.  Problem is much of the ability to borrow was based upon highly overvalued leveraged assets all wrapped around retirees superannuation funds - what a cascading mess!

But life moves on and we accept the hard facts - quite casually in many cases

Maybe the Internet and communications technology of today has helped spread the softening cushion.  People are more versed and educated.  You lose some money, "so what" they say or maybe this is a little myopic and the tide is still moving out - the full impact yet to be felt?

You then look at the reverberating effects, like a brick dropped in a small shallow pond  - what markets will be most impacted - where will the jobs be lost; the pain, suffering and hardship, on the other side what are the emerging opportunities caused by this sudden Tsunami of Change?

Waves of defense

We've seen a wave of bail out packages but will they work?  On the street consumers have already pulled in their spending.  Who could imagine borrowing 90% for a new house or buying an expensive new car or boat at the moment or that expensive overseas holiday right now?

Whatever industry will will inevitably see market consolidation as those that have borrowed too heavily either collapse or are sold at a discount.

Many luxury items and those downstream will be effected - think drop in property prices impacting real estate, building industry production and at the bottom of the chain bricklayers. In the same breath, an aging population creating demand for nursing homes; health services and low cost housing.

Think cars and downstream to tyre manufacturers as people hold off changing tyres.

Purses will be tightened, money will go from luxuries to essentials.  Escapism will take other forms. 

From a media perspective - changes in behavior - the movement away from conventional advertising spending towards accountable online advertising.

For me personally, it has been cherishing the lessons passed on my beloved dad, the final closing the doors on the BANGitUP chapter (and some strong lessons), a renewed love and focus on my photography development  and the launch of the very cool and innovative CLIVE video project.

To my friends and readers, all interesting times ahead and all the best for 2009.