Carleton
In a message dated 2002-07-21 12:17:27 Eastern Daylight Time, [EMAIL PROTECTED] writes:
John,
I think we're going through a "correction" right now, from the excessive
triumphalism of the 1990's. 9/11 certainly brought an end to the era of
invincibility, and corporategate may be teaching us we need to follow the
rules.
There may be difficult times ahead, but when it all shakes out I don't think
it will be bad for metric.
Nat
-----Original Message-----
From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of
kilopascal
Sent: Sunday, 2002 July 21 11:39
To: U.S. Metric Association
Subject: [USMA:21310] The future of metrication in a declining economy.
2002-07-21
I am sure by now, most of you know the economic situation in the US. The US
stock market has been falling steadily over the past 3 months and hit a 4
year low on Friday losing 7 % of its market value. In the past 3 months
alone there has been a 25 % drop in the value of most stocks. Many people
have already lost their fortunes. And the professional economists are
realising the end is not even close (from newspaper articles).
In speaking with people over the past few weeks who either own or manage
small businesses, I was amased to hear that all had no cash reserves and
none were making any profits. After payroll, taxes, utilities, insurance,
etc., there is no money left for anything. These businesses are literally
on the edge. Some bigger companies have deep caverns where they can hide
losses, but as we have seen lately, even these hiding places can be exposed
for all to see. And the big ones are no better off. Their profits are
really the result of "writing off" debts or hiding them in loop holes. Thus
the loss of profits translates into declining stock values.
On Friday, I had to visit a local customer, 220 km to the south of
Cleveland, a 2.5 h drive. Looking at the highway signs all in miles and
miles per hour and multiplying this number over the whole of the country
made me realise what an expense it would be to change all of this in one
swoop. With businesses barely making any money and the state in a deficit,
I wondered where would the money come from to make such a change? How could
we convince a nation with barely two nickels to rub together, that
metrication is in their interest and would be a profitable venture?
No one seems to care about the rest of the world, or increased exports, long
term gains, etc.. People only seem care about surviving the day.
Yesterday, one guy at the gym told me from his experience that we would be
lucky if there is a market boom 10 years from now. If things stay bad for
the next 10 years, can we ever hope to see metrication in the US or even
small increases here and there? What really can be done to mectricate a
declinging economy?
Are things any better outside of the US?
John
