In the recent weeks' tragedy, following the fall of Lehman Brothers, there were fears that a second Great Depression is brewing. While analysts desperately try to allay those fears by telling people not to panic, it's hard to calm down.
We're in a deep economic problem. And literally, 'economic problem' is caused by scarcity. But like the oil crisis, it's not the scarcity of resources. In today's world, it's the scarcity of thoughts.
Just look at the current scenario. To respond to the current economic crisis,
...the public is withdrawing their deposits
They freak out and pull out their money from the banks to 'prevent potential losses'. But we're in a middle of the credit crisis- and we need more deposits to keep the economy moving.
Q: Isn't by withdrawing the money, we're making the situation worse?
A: We don't care.
...and the banks are laying off their employees
Banks are laying off their workers to secure their 'long-term presence' and 'market strength'. They're reacting lightning fast to the recent crisis, dumping valuable manpower that took stages of interviews just for them to consider hiring.
Q:How on earth by reducing your manpower in 2 weeks can you retain your market for 2 decades?
A: We don't care.
.....while people are fighting against the bailouts
because they think it's stupid to hold government (and taxpayers) responsible for corporate companies' troubles. They prefer to let the ailing corporations succumb, along with the rest of the economy.
Q: Can a broke corporation save you from economic collapse?
A: We don't care.
...and the Congress?
The congress rejected the bailout bill, only because of partisan influences. And for heaven's sake, it was fellow Mr. President's Republicans who went against the bill.
Q: Can we jeopardize the global economy just because of a speech?
A: Yes we can!
*****
We're facing a prophecy of doom: an economic meltdown.
But what's interesting is the extent of our stupidity is so great, it seems this prophecy will be self-fulfilling.
Luckily there's CEOs and consultants like me- the wise people who insists on golden handshakes and parachutes. Because this is economy. Someone must profit out, from this scarcity.
7 comments:
The golden parachutes are great thing. their production should accelerate. we need more of them. but there should one adjustment made to their design. they should come without any cord to pull :-)
Well, with the current issue surrounding it, expect to see a steady evolution of this parachute scheme- into something more lavish yet more discreet.
No cords? Maybe..
Greed makes people blind. I think people are panicking because the very institutions that they trust are failing.
Lehman, Merill etc. are supposed to be staffed with the best and the brightest. Now it appears that the Emperor wear no clothes.
With how greed played a main role today, this is the economy trying to correct itself.
But amazing how the public try to survive this ordeal by worsening the situation.
This is liberalism at their finest.
"But those hoping for an end to golden parachutes - the large pay packages that top executives get when they leave a company - may end up disappointed"
;-)
we wait & we c..
I'm sure some people are profiting from this economic crisis!
Even in this economic crisis there are people who are profitting.So it is important to stay focussed.
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