Paging Larry

A few days back,Google was sent to the cleaners by its printer,who inadvertently published its Q3 results in a draft state,three hours ahead of deadline. Though the printers devil wiped out 20 billion in shareholders money,it did the market a favour. It brought home the bad news fresh and wholesome,minus the packaging that could have been deployed in the last three hours. Googles net income has fallen 20 per cent,indicating a general slowdown in the global economy despite the leading Western economies ebullient claims of revival and stability.

Part of Googles slide owes to the strengthening dollar and the 12 billion acquisition of Motorola Mobility. But it also owes to falling advertising revenues volumes are rising but prices are low,suggesting a general slowdown. It isnt the first brake-light seen this year. The Baltic Dry Index,which follows the cost of shipping,has taken a hit twice,indicating a fall in the volume of raw materials and finished goods being traded. Earlier this month,Fedex announced job cuts in response to a continuing reduction in demand for its services,which it had declared in September. Low Fedex volumes signal that people are buying less and looking for cheaper ways to ship.

In short,the world economy is silently sinking. Maybe Google co-founder Larry Page had a solution,but was pre-empted by the printer. The Q3 result that was inadvertently outed had a tantalising placeholder marked Pending Larry Quote. Its become a meme but maybe it wasnt intended for Larry Page,who hasnt been speaking much this year because of a throat problem. Maybe what the market needs is Leisure Suit Larry,geekdoms fast-moving,iconic travelling salesman. A desperate man fit for desperate times.