In the last column here, I pointed out that a number of my Shift Age forecasts have come true. I wrote about several of them and how I get an odd sense of déjà vu when these forecasts become reality. In this and coming columns, I will revisit them – not to gloat, but to provide explanation, because people read and hear forecasts differently from explanations of the actual events they become.

In 2007, I forecast that humanity, and particularly the developed countries of the world, would enter the “reorganizational recession of 2007-2010.” Considering that this is a blog that looks into the future, it might seem contradictory to be looking back at this event, but by doing so, I can explain why it was accurate and why understanding it will help us better navigate and understand what lies just ahead.

The reason for the length, breadth and depth of the 2007-2010 recession was that it was a reorganizational recession between the Information Age and the Shift Age. Most economists look at recessions through the eyes of history, measuring whatever recession we are currently in against past recessions. Phrases such as “this looks to be another jobless recovery similar to the recessions of the 1990’s” or “the recovery will be on the back of the consumer – when the consumer starts spending, we will emerge from this recession” (both paraphrases) are common and represent economists looking at economic downturns purely through economic filters. That is why they have had to keep revising …

As a futurist, part of what I do is to present the future to audiences and readers around the world.  Presenting a vision of the future, making predictions and developing forecasts is what a futurist does.

Regular readers of this column know that since last September I have presented you with a number of economic forecasts and predictions.  There has been a constant flood of economic information and revised predictions in the media.  Economic forecasters seem to be rushing to revise their forecasts of just a few months ago to try to stay ahead of the tsunami of bad economic news.  In this environment I thought I should take a look back to see how accurate my forecasts to you have been.

I take great pride in my ability to make correct forecasts and predictions for you my readers, to the audiences I address and to the clients I advise.  In this case the correctness of my predictions are, unfortunately, extremely accurate.

Last fall, in a column titled “The Collapse of …

The Great Recession of 2008-2010/11 is going to be a very tough time economically.  As I wrote in my Forecast for 2009, this economic collapse brings four words to mind.

The first word is contraction, which is the standard way to view a recession.  Economic activity contracts and we are in a recession, economic expansion represents the end to the contraction.  The contraction was severe in the fourth quarter and will be so in the first quarter and second quarter. Output and consumption are in a deep fall right now and will remain so.

The second word is cleansing which in this context means that old ways of doing business, of looking at only the upside, of embracing debt and extreme leverage must and will be cleansed from both the economy and the way that people think. The casino capitalism of the past 20 years will soon be viewed as an unsustainable exercise in individual and corporate greed.

The third word is reorganization.  To quote from the linked column …

We have all lived through a lifetime of technology changing the media and content landscape.  Satellites allowed cable television and later satellite television to erode and then eviscerate the traditional broadcast network business model.  Then the analog to digital transition eliminated the physicality of the product in the music industry.  Then the universal, immediate and free availability of news and information on the Internet has pushed news magazines and newspapers to the edge of the abyss.

It is now cable television’s turn to face the disintermediating power of the Internet and technology.  This is a trend I have forecast for the past two years.

Cable television has long had a strangle hold on the American household as it has been the “last 30 feet” of connectivity into the home.  Owning this connection has allowed cable television MSOs and operators to control a great deal of the media access to the home and, in many cases such as customer service and pricing, act as a monopoly.  First was the connectivity to the world of cable television.  This was followed by …

The current media and advertising recession will be more severe and more transformative than any one of the last 80 years.  This will be a time when it won’t be just about how far down ad spending goes, but also about what media entities and even business sectors will survive.

Historically, advertising recessions have been 1-2 years in length and have been about a contraction in ad spending on measured media.  Everyone hunkered down, altered pricing strategies, leaned on relationships and waited until the inevitable spending upsurge occurred.  The advertising recession of 2008 – 2010 will be different. This time, entire structures on both the buy and sell side will collapse.  The institutions that were developed and rigidified in the 20^th century are clearly not mirroring the dynamic changes of the media marketplace in this new century.  The advertising agency constructed in the second half of the last century no longer reflects the media reality of today.  The same can be said of the hierarchical distribution channel specific media sales organizations.  There are agencies and media properties that exist today …