I was going to review the BlackBerry Curve but, as is often the case, that’s been overtaken by events.

The picture gives a clue to the wistfulness inherent in our decision. I might also have put up a shot of the new 3G iPhone that O2 is close to announcing in the UK (see below).

You get the picture. No sooner do we get the kit in than the companies announce quantum leaps in technology and new products within weeks. It’s enough to make you expectorate.

I’ll just say we are very happy with the BlackBerry Curve (version 8310) and its extraordinary powers of connectivity, plus its distinction as a pocketable writing platform, before looking ahead, not just to the 9000 — the Bold — but to the 9500 (pictured).

According to The Boy Genius, this is to be called the Thunder and is set for third quarter launch. It’s a full touch-screen device, like the Apple iPhone, with only four hard keys along the bottom rim :

… it will launch as a worldwide lifetime exclusive on Verizon and Vodafone! … If the device will indeed launch with a 4G solution, our bet is on LTE), and GSM HSPA for traveling internationally. Verizon and Vodafone will have the same unit. Currently, the model number is the BlackBerry 9500, though it’s very early and that’s likely to change.

Meanwhile the Guardian is pumping up excitement about a 3G iPhone, which has been widely expected. “The 3G version of the iPhone will be unveiled ‘in the coming weeks’, the boss of Apple’s exclusive mobile phone partner in the UK and Ireland hinted today. … [Maybe] at its Worldwide Developers’ Conference in San Francisco, which starts on June 9.”

New 3G iPhone?

Not much left to say about the 8310 Curve, except it’s a welcome addition to our office and adds enormous functionality to our operation.

Can’t help thinking we’ve been thrown a curveball though — wistfully speaking.

We’re hearing that the City of Vallejo has filed for Chapter 9 bankruptcy, apparently a first for a municipality. Half Moon Bay, home to a few internet big shots, may well be next. According to John Moorlach, Orange County board chief, “This is the tip of the iceberg: everybody is going to line up for Chapter 9 in California.”

What can it mean to people on the ground when their city goes belly up? What of their assets, houses etcetera? It will be interesting to watch this pan out.

According to Goldman Sachs and Lehman Brothers American house prices are likely to fall 25pc from peak to trough. With between 10m and 12m households in negative equity already, there’s still a way to go.

Shares across the developed world are set for big falls too. Albert Edward Société Générale’s global strategist says, “Nowhere and nothing will be immune. We are on the cusp of an equity meltdown that will slash and shred portfolios. We see a global recession unfolding. Liquidity will drain away and crush the twin emerging market and commodity bubbles. The recent hope that ‘the worst might be over’ is truly staggering. Profits are disintegrating.”

Ambrose Evans Pritchard of the Telegraph (UK) — ever the Cassandra — says pointedly, “Britain, Europe, Japan, and China will go down before America comes back up. This is turning into a synchronised bust, after all. The Global Slump of 2008-09 is under way.”

The Bank of England and the European Central Bank are still stubbornly refusing to cut rates because of inflation fears, which will be the least of our miseries in the next two years and should abate soon as global demand falls off the much-imagined cliff.

It’s probably true that Ben Bernanke’s Federal Reserve has saved the U.S. and other countries from another Great Depression. But nothing can stop a slump now because it’s already happening.

Why does Twitter ask, “What are you doing?” above the write box? Why not “What are you thinking?” Better still, “Why are you doing that?”

Blackberry 9000 on horizon. Just ordered Curve. Should I cancel and wait?

UK Gov on 23pc in new poll. Conservatives on 49pc. The next election is all over.

Moneyizor. The failing eurozone: http://www.moneyizor.com/2008/05/09/the-failing-eurozone/

I was disappointed with Yanik Silver’s book “Moonlighting on the Internet”. Sooo Web 1.0 Minus. Old hat Plus.

Considering buying “Problogger The Book”, but have I read it all on the site? Can anyone convince me it’s a good investment?

Twittergram sounds like a good service in embryo. See Dave Winer. Let’s hope it surfaces soon.

It’s nearly 1pm and I haven’t started my 3-hour working day. Wandering around book shops and buying an Aussie hat absorbed my morning.

Just bought Herman Hesse’s “Narcissus and Goldmund”. It’s the only one I haven’t read. Also John Buchan’s “Sick Heart River”.

Switched Syntagma to full feed. Resisted long and hard but the tide is irresistible.

Steve Rubel thinks that Renaissance Man is doomed because of the internet. The thing is, RM only uses the i/n sparingly. He reads many books.

New Mayor of London has appointed Bill Bratton to clean up London as he did NYC under Giuliani. Great Move. Congrats Boris.

My problem is I find it hard to work when the sun is shining. This is why I never moved to California.

And lots more, folks. Roll up at http://twitter.com/Syntagma. 140 characters of …

Please finish the sentence yourself.

All the weather vanes are swinging south and, with forecasts that the credit crunch could last for two more years, may stay that way for some time.

How can we buck this trend and not only hold our own, but actually come out ahead? We should look at professional investors, especially the big, successful ones.

The Warren Buffetts and George Soros’s of this world build large cash reserves during bull markets. Buffett has a war chest of tens of billions of dollars and is looking seriously at Britain and Europe for bargain buys during the downturn. There are plenty of them.

For those of us with more modest resources, Soros perhaps is a better example. He it was who sold sterling “short” during the currency crisis of 1992. He is reported to have earned over a billion dollars in a few weeks.

Effectively he bet against the pound’s ability to remain in the European tied currency system — then called “the snake” or ERM — in the face of massive speculation against it.

He was right and did Britain a huge favour by scuppering the crazy political experiment. We owe it to him that the UK is not in the single currency, the eurozone, right now.

So what is “short selling” and how might it benefit internet businesses?

When you “buy long” on a stock or investment, it means buying it for an expected increase in price. But when you go short, you are anticipating a fall.

Short selling is also the selling of a stock that the seller doesn’t own. When you short sell a stock, your broker will lend it to you. The stock may come from the firm’s own inventory, from one of its clients, or from another brokerage firm. The shares are then sold and the proceeds credited to your account.

Now here’s the rub. At some point you must cover the short by buying back the shares and returning them to the broker. If, as you’ve gambled, the price drops, you can purchase them at a lower price and pocket the difference, minus brokerage fees. For example, if you could have predicted the ups and downs of the Microsoft-Yahoo skirmishes recently, you would have cleaned up.

Of course, if the price rises, you lose. Essentially this is about winning in a falling market. With money currently chasing every store of value, like gold, oil and certain other commodities, funds are draining away from many assets and valuations are falling — just look at your house price.

Talking to a trusted broker about short selling may well be a way to replace lost sales in medium-sized internet businesses. With falling markets set to continue, turning logic on its head may be the only way to stay afloat if things get really bad.

Any investment takes a lot of nerve of course — and single-mindedness. A few months ago I was intent on going long on gold. However, another call on my cash intervened and I forfeited the many thousands of dollars I might have made on the spectacular rise in the gold price to around $1000 an ounce.

Going short is one way to survive in a falling market. As sailors say, “any port in a storm.”

Note: This post is not intended as investment advice or to influence your investment choices in any way.