YUPRE gathering

Mistakes upon mistakes and sometimes that is the only thing that makes sense. Why? Because it is always hard to admit that you are wrong, even with the power of hind sight. Maybe that can explain why even with all the evidences laid out in front, some can still live in denial that the world is not in recession and Canada have immunity. At least a handful of young professionals I met in a meeting last night at the YUPRE gathering expressed optimism in the Canadian market much to my bewilderment.

Perhaps they are attempting to spread the optimism to avoid the self-fulfilling prophecy of impending recession. In any case, it felt like a complete waste of my time listening to them preach that this financial crisis will pass in time and people will soon forget.

Then in another group, they were debating what really caused the collapse of Capitalism -the real estate crisis or credit crisis. They obviously haven’t read the Prince Sultan University article on “Credit Crisis – The Worst Is Yet To Come”, which discusses that abstract value instead of hard value has created a vortex of speculation distorting the whole value system and greed takes over. In any case, this debate does nothing to elevate the situation unless one of them actually can isolate the problems and tackle them individually.

Sometimes I do pity those who lack rationality in their thinking. Seriously, I do.