Words: 276. Reading time: 1 minute 4 seconds.
If you think businesses are struggling, take a look at Tesco: Group sales grew by 11.7% in the 13 weeks to 22nd November.
If you think Tesco’s is alone take a look at Primark: total sales grew by 21% in the year to Sept 13 and profits grew by 17%.
Not bad for an economy that is supposedly suffering badly and a sector that is said to be suffering more than most.
The argument that they have prospered because they are both at the ‘economy’ end of the spectrum is belied by the demise of Woolworth’s. Clearly, piling it high and selling it cheap is no guarantee of survival.
In a similar vein the media, even Governments, would have you believe that banks all over the world are in dire straits and that none of it is due to a gross neglect of duty by the regulators.
Take a look at the Lebanese banks. They are stronger than ever. That’s partly due to the way they conduct business, partly due to strict regulation. Well now, if they can do it, where were the UK Treasury and the US Securities Commission?
And that’s the second lesson: particularise rather than generalise. Generalising is marked by sweeping expressions that allow for no exceptions, such as:
· Everyone & No one
· Everywhere & Nowhere
· Everything & Nothing
· Always & Never
· Best & Worst
Who thinks they have heard reports recently that the FTSE 100 had its worst day ever? And who is aware that the FTSE 100 only started in 1984? Less than 25 years of comparatives doesn’t tell you very much, does it?
Even the FT30 index, which is the oldest continuous index in the UK and one of the oldest in the world, only began on July 1 1935.
Life survived and flourished even though a cataclysmic event wiped out the dinosaurs. The same is true today. Events that are wholly positive or wholly negative are rare events indeed.
If you think businesses are struggling, take a look at Tesco: Group sales grew by 11.7% in the 13 weeks to 22nd November.
If you think Tesco’s is alone take a look at Primark: total sales grew by 21% in the year to Sept 13 and profits grew by 17%.
Not bad for an economy that is supposedly suffering badly and a sector that is said to be suffering more than most.
The argument that they have prospered because they are both at the ‘economy’ end of the spectrum is belied by the demise of Woolworth’s. Clearly, piling it high and selling it cheap is no guarantee of survival.
In a similar vein the media, even Governments, would have you believe that banks all over the world are in dire straits and that none of it is due to a gross neglect of duty by the regulators.
Take a look at the Lebanese banks. They are stronger than ever. That’s partly due to the way they conduct business, partly due to strict regulation. Well now, if they can do it, where were the UK Treasury and the US Securities Commission?
And that’s the second lesson: particularise rather than generalise. Generalising is marked by sweeping expressions that allow for no exceptions, such as:
· Everyone & No one
· Everywhere & Nowhere
· Everything & Nothing
· Always & Never
· Best & Worst
Who thinks they have heard reports recently that the FTSE 100 had its worst day ever? And who is aware that the FTSE 100 only started in 1984? Less than 25 years of comparatives doesn’t tell you very much, does it?
Even the FT30 index, which is the oldest continuous index in the UK and one of the oldest in the world, only began on July 1 1935.
Life survived and flourished even though a cataclysmic event wiped out the dinosaurs. The same is true today. Events that are wholly positive or wholly negative are rare events indeed.
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