Monday, March 16, 2009

Is the Economic Crisis Over?

There has been in the last seven days something of a renewed resurgence of "hope" in the market... 4 days of good trading and some commentators have even dared to hint that the economic crisis could be over. what? is it? for who? what is your experience of the economic downturn? I think larger and more scarier than the current financial crisis is our crisis of vision. We're simply not thinking that differently from how we got ourselves in this mess. The proposed solutions of stimulating economies, bailing out banks, and privatization, stink of the same old same tired thinking. There has to be more, doesn't there?

2 comments:

  1. I think it's definitely a temporary fix by shoveling money into the banks, etc.

    However, while it's not changing the way we operate, it might buy us some more time to figure out a more permanent solution.

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  2. I heard on the news last night that AIG who had a multi million dollar bail out by the US goverment, still is paying its senior staff millions on performance bonus.

    Seems a bit weird if you are the head of an organisation that has to be bailed out that you are rewarded for your efforts.

    Anyway Malcolm you raise a good question, there has to be more, there has to be a better solution, do you have any suggestions on practical things that people like me could do?

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