Posts Tagged greed
Blame it on the crisis
By Fernando Mexia - Economy , Maria Benito , featured - 08/05/2009
Maria Benito, journalist
¿We will miss the crisis?
We are in crisis, no doubt. And the data is terrible. Everyone knows that, no need to read the newspapers, which have been occurring for months of negative news into a source of discouragement. But some works to see the positive side, though the arguments are not always convinced. For some, the crisis is an opportunity, individually, perhaps, if you have money to buy a house now, as collectively we can accomplish a change in our growth model.
A few weeks ago, David Marsh published in a financial website Market Watch article that was enough said and began recalling the words of Richard Nixon in 1962 when he told a group of journalists who would miss him when you leave the presidency: "You will not Have Nixon to kick around any more "(Since you can not continue abusing / blaming Nixon).
The idea Marsh's article is that, deep down, the crisis has provided a buffer of guilt: if something goes wrong, is by the crisis and unless you look at the blunders of Bush. And besides, the crisis may serve to change and improve society in some respects: abandoning greed and thinking more "green." This idea is shared by another article, Kurt Andersen, who appeared in late March in Time magazine that was titled " The End of Excess: is the crisis, good for America? "(The end of the excesses: is the crisis good for America?), which shows how the crisis can be a historic turning point to end the period of expansion experienced in recent years. Because Andersen believes that the spirit of the 1980s did not end and lasted for ninety years until 2008, believes that Americans were coming to what has happened, but looked the other way and maybe the crisis will serve to Americans abandoned the spirit of cricket and resume the character of the ant. Expected to reduce greed and more investment in the social.
Meanwhile, Marsh said the crisis has helped the bank tellers better serve us, but believes that if we overcome the crisis, the smiles disappear. Beneficial effects of the crisis, Marsh highlights the falling prices, it's time to buy certain things. And indeed, now housing is more affordable and there are discounts in supermarkets and clothing stores as well as appliance stores. Of course, buying a home required that the individual has some savings, a secure job and pass the examination of the bank for a mortgage. Many of those affected by the crisis can not think of buying a home or are unable to afford the mortgage they already had ... Furthermore, I argue that although prices were artificially inflated and should be adjusted, a general fall in prices would not help us continuing to medium to long term to none.
One of the most criticized Marsh's article is in setting out the health benefits that the crisis is having: people walk more to save on transport and eat less, so the crisis helps to combat obesity. What worries me is that the argument does not notice that people have spent less on food, true, but sales have increased fast food and high caloric intake ... and save on fuel is good for almost everyone except oil and for countries whose economies are dependent on black gold, which leads me to believe that eventually may also adversely affect us all, because if anything has become clear with the crisis is that the butterfly effect theory is more valid than and that never happens to a company in Hong Kong can influence that Mr. Lopez has to close his business in Zamora ...
Marsh believes that the abandonment of the greed that many expect as a result of the crisis will be temporary. But Andersen is probably right in his article ("you pressed the button 'reset'") and is a good time to rethink the model of growth and effect change. Andersen does not recommend abstinence but moderation. And he believes that some habits can endure.
The problem of the crisis is that for many families has been hit very hard and will cost quite recover, especially those with fewer resources or to those with all their members out of work (in Spain there are 1,068,400 households in this situation). The other day I was in the vicinity and two ladies who were sitting in front of me were discussing the misfortunes of a third. The conversation turned to focus on the crisis (because, as I said, now everything is on the crisis and is spoken of not only the media but also in the bar or on the market). And one of them declared: "If there ever crisis ... the crisis of the poor."
Translator
By N2H