Its another fitting occasion today after the meltdown of global financial institutions that we are once again reminded that the way to get us out of the mess caused by the sub-prime loan fiasco is to increase our individual spending.. Is it me or everyone who has their fingers on the monetary policy of this nation(an other global financial partners) are out of sync with reality. It was greed and the desire for consumers to want more “stuff” that got them into trouble in the first place. How quickly we forget the true reasons behind the sub-prime meltdown..it wasn’t people with bad credit but people who had eyes bigger than their stomach… Somehow we are told that the way to fix the current problem is with a solution that caused the problem in the first place… What are we going to hear next from the Fed : “we must relax lending policies so that we can bring back more sub-prime loans?” We are ripe for a change in how we consume, how we measure health of our societies, how we take care of everyone so that artificial financial situations don’t devastate us? Remember the time in human history where the only societal crisis was a natural disaster like a volcanic eruption or a flood? I think we all know how we got ourselves into this current mess…

This entry was posted on Tuesday, January 22nd, 2008 at 2:50 pm and is filed under business, economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
 Print This Post  Email This Post