Recession Rubbernecking

Posted on October 22, 2010 by Aidan

When I worked in London and drove around that horrid M25 Ring Motorway with about 100 Million other cars there used to be a term you would hear on the radio – “Rubbernecking”.

An accident on the motorway in say the clockwise direction would cause those going anti-clockwise to slow down to see what was going on on the other side. This would cause a ripple effect back through the traffic and cause it to slow and stop leading to incredible delays for up to 50 miles.

A friend of mine – a very intelligent fella called Alan Brown in Brown and Root Vickers, an Engineering Consultant, used to explain it in terms of flow mechanics and to be honest I never quite understood him fully. It was something to do with too much water (traffic) in too small a space and the ripple effect backwards.

I decided to invent the term the other day – “Recession Rubbernecking” – here we are with the help of some of the media rubbernecking at Anglo-Irish Bank, at Nama, at Bond Rates and such and so forth. There are people sitting around turf fires in villages in Ireland happily prepared to discuss Bond Interest Rates and Developer “Hair Cuts” and such. We are all staring at the accident – looking for Carnage.

Well don’t !

The Accident is fascinating. But looking at it and dwelling on it is causing a backlog, a compression which is slowing everyone down and stopping the momentum needed for recovery. Businesses are not selling, banks are not lending, jobs are slow to come back. Because we all have our eye off the road in front of us.  “Lets see how the Anglo numbers affect us first”, now “lets wait for the budget”, now “lets wait to see how the interest rates…..” meanwhile six months have gone by and we are holding our breath and standing still. We need movement folks. We need energy, industry and to get where we need to go.

Turn off the radio, switch the news channel, turn over to the life and sports sections. Look past the headlines. If you do look at one of these articles – do get the facts and draw your own conclusions. Don’t look at the emotive headlines and get caught up.  Then focus on the things you CAN do to make a difference to the things that are important to you, write them down and do them.  Life is about the six inches in front of your face. Getting through this is about being here and now. In the moment if you will.  Right here Right now you have the power to affect the things you can.

Aidan Higgins