The present crisis is not the first to hit the US, and only fools will believe that it is the last after reading about the last 10 meltdowns. Innovation in the US is regularly getting the better of regulation. The results are for all to see. The need of the hour is to 1. Regulate the financial system so that the exotic breed of animals sometimes called investment bankers can be reigned in & controlled for all time. 2. Conserve energy. The entire world can live without SUV's & Hummers. Why is it necessary for Americans to go to office in trucks ( 80% of the word thinks that a Honda civic is a LARGE car, the Americans believe it is a fuel efficient small car) ? The world shuts of lights when they walk out of rooms, why cant Americans learn ? 3. Stop wastage. Eat / Order as much as you need. Why is it necessary to order 7 scoop ice cream sundaes & waste half of it when there is starvation in Africa ? The solution lies in offering 3 scoop sundaes at half the price. 4. Pay for what you use, if you cant pay / afford it – don’t buy it. Don’t expect the world to finance your lifestyle for ever & then come up with innovations to roll over obligations to the next generation of Americans. Many would consider my views outrageous. Well go ahead, live your life of non regulated wastage. Following it will bring down the number of unemployed Americans, gas prices, hungry people in Africa, lower global warming & a more stable economic system. But, hey who cares about that hungry kid in Africa, let him starve, and you will find that very soon China & the Saudis will not buy American Asset Backed Securities & then the bill for the crisis which started in New York will have to be paid in New York.
The need of the hour is to
1. Regulate the financial system so that the exotic breed of animals sometimes called investment bankers can be reigned in & controlled for all time.
2. Conserve energy. The entire world can live without SUV's & Hummers. Why is it necessary for Americans to go to office in trucks ( 80% of the word thinks that a Honda civic is a LARGE car, the Americans believe it is a fuel efficient small car) ? The world shuts of lights when they walk out of rooms, why cant Americans learn ?
3. Stop wastage. Eat / Order as much as you need. Why is it necessary to order 7 scoop ice cream sundaes & waste half of it when there is starvation in Africa ? The solution lies in offering 3 scoop sundaes at half the price.
4. Pay for what you use, if you cant pay / afford it – don’t buy it. Don’t expect the world to finance your lifestyle for ever & then come up with innovations to roll over obligations to the next generation of Americans.
Many would consider my views outrageous. Well go ahead, live your life of non regulated wastage. Following it will bring down the number of unemployed Americans, gas prices, hungry people in Africa, lower global warming & a more stable economic system.
But, hey who cares about that hungry kid in Africa, let him starve, and you will find that very soon China & the Saudis will not buy American Asset Backed Securities & then the bill for the crisis which started in New York will have to be paid in New York.