Self-fulfilling Prophecies:
Clearly with businesses like MFI and Woolworths going to the wall, we should learn to dig deeper to understand why this is happening. On the one hand it is because the banks / credit insurers cancelled agreements, but that on the other hand suppliers wouldn’t trust these major businesses to pay them after the run up to Christmas. So greed and fear won the day, and yes, the suppliers haven’t been paid – they have now lost a lot of business! Well I have no sympathy for the banks and suppliers who have forced these closures, a true Self Fulfilling Prophecy! Might it be their turn next?
Actually written 4th December, 2008