We are living in a society that subsists almost entirely on our greed and lack of self-control. Take away the greed and add some self-control and watch the economy falter.
“The search for efficiency and the urge to consume has set us all up like a row of dominoes – there is no buffer, no resiliency. As one problem rises it causes another. As one solution is tried it drives another problem. We all pull back and the consumer economy stalls. The auto industry and credit firms feeds the media (40% of conventional advertising). Papers and TV and Radio networks, many subject to LBO’s will have to fail as per the Tribune. Every sector will be laying people off. Sales of all things fall off a cliff – driving more business failures and layoffs. Cities and states that depend on sales tax and property tax and the credit markets can rely on none of these. So they too will have to lay off millions – thus making all the problems worse. National governments will be asked to save us all and of course cannot. As States and Cities get squeezed and cannot borrow, they will too lay off millions – teachers, firemen police. No one will be safe,” – Robert Patterson, surveying the year to come.
Can we learn to rebuild and restructure our society and economy to accommodate a sustainable future? Or will we wait until the fear passes, print more money and continue our old ways, leaving these pesky problems for our children and grandchildren to deal with?