The beginning of a 'New' Economy?

I don't think we will have a financial Armageddon by the end of Nov 2009 -- but we may be seeing the beginning of a change to a new kind of economy and world view. We have globalised greed -- part of our current economic problem -- our economy depends on spending (67% of US economy depends on consumer spending) -- this is unsustainable and besides the spending didn't make us happiness.

What will the new economy look like? Daniel Pink provided a glimpse of the possibilities -- more emphasis on the intrinsic drivers than on the extrinsic ones (Money). Here is his list: (i) Autonomy -- the urge to direct our own lives; (ii) Mastery -- the desire to get better at something that matters; (iii) Purpose - the yearning to do what we do in the service of something larger than ourselves.



View his video -- it could change your life:
http://www.ted.com/talks/view/id/618

Economic Doomsday by November?

The word is out that Wave 3 of P3 will occur by the last week of Nov 2009. This means the economic collapse of global portions -- a worldwide depression worse that the 1930's.

"No one knows for certain what fundamentally will trigger a collapse in confidence, but one thing is for sure; there is no shortage of highly levered problems waiting to explode. P3 will begin with some fundamental event that causes investors to doubt or lose confidence about an imminent recovery. Wave 3 of P3 is when markets finally realize we are deeply entrenched in a bear market. When Wave 3 of P3 begins, no amount of intervention by regulators will make up for missed expectations, lost hope and shattered dreams." -- from Nicko the Spicko

For more along these lines see:
http://tradingwithtoastmaster.blogspot.com/2009/08/fundamental-state-of-our-economy.html

What do you think?