By: Alan

Alan — Fri, 10 Oct 2008 15:53:16 +0000

It would appear that financial ecosystems, like natural ecosystems, need a stress induced collapse every once in awhile to return to a more sustainable state. The ferocious over-consumption that is euphemistically called the “American Lifestyle” began to be financed with mountains of debt decades ago, and, finally, the debt bubble has collapsed under its own weight. Perhaps now we can have the serious town meeting, long overdue, where We The People can discuss what kind of society we REALLY want to live in and face up to the sacrifices that positive change will require of us to get there. But first, we will have to learn to ignore the smoke & mirrors distractions that are the stock & trade of so many of our special interest groups, who value money over planet, country, community, family and even self. “Greed is NOT good.” Globalism has NOT raised all boats. And now we face a very serious crisis: our global partners have learned NOT to trust us. The “Leader of the Free World” is run by liars, crooks and their spinmeisters: Enron, Arthur Anderson, Tyco, Ken Lay, Bush, Cheney, Wall Street bankers, MBA’s and their bootlicking “economic advisors”. From the world’s most prosperous & productive economy to a nation of bankrupt debtors in nine easy lessons. Advice to next generation: better take a good hard look at your elders… we did this to you!

By: Geoff

Geoff — Thu, 09 Oct 2008 20:56:45 +0000

While I agree the downturn does reveal opportunity in investing as well as other business ventures, it is not something to celebrate. The market is now fundamentally different now and will never be the same. The next generations are going to have a hard time figuring out how to adapt to the ‘new’ investing style. And to your point on the corp ladder, loyalty and climbing that ladder are no longer ways to make a living in our high cost economy.

Comments on: Who Wins from the Credit Crunch?

By: Alan

By: Geoff