04 October, 2008

What Happened to Cause the Financial Meltdown?

Ya'll know I'm a diesel mechanic gone digital, not an economist. Still, this thing is big. And more than just big, it's fascinating because the damage control is being done in real time by panicked leaders and companies. The opinions are thicker'n skeeters in Louisiana right now, and not just from pundits. The average Joe has an opinion, the pundits are changing their opinions, congressmen have opinions, and it just so happens we have a quartet of presidential candidates with opinions.

It's absolutely enthralling.

In a, "Wow, my kids might grow up in the stone age," kind of way.

Anyway, here's a link to Michael Kruse summarizing his opinion of the steps that got us here.

I live in a world of linked data points. The more points you can make jive together, the more likely you've got a useful opinion. Michael is the first guy I've seen link every point. He indicts Democrats, Republicans, lenders, free markets, regulation, and greedy Americans, but that's no big deal. Everyone is doing that. He does it in the right way. He points out what they did, and why they did it - actually why I might have done it myself if I were in their shoes.

I respect and can use an opinion like that.

And, for the record, you might enjoy the video at his post, too. :-)

A Prophetic YouTube Post


eclexia said...

"He points out what they did, and why they did it - actually why I might have done it myself if I were in their shoes."

Ah, yes. That last sentence is pretty key, I think. It's easy to come up with an analysis, critique and solution, proudly looking from the outside in, identifying what and why someone else has done wrong and what they should do to fix it. It's another thing altogether to really "get" why they did it and why I might have done the same thing in their shoes.

I'm reading a book on South Africa that is helping me understand some of the dynamics of that country's history from that kind of perspective. It doesn't make answers easier to come by (quite the opposite--it leaves one feeling like most of the answers that seemed to make sense of the mess only do so by over simplifying), but perhaps it facilitates the answers that come out of that type of thinking, though smaller and less dramatic, being more likely to "stick" and make a difference. I don't know; just speculating. I appreciate the thoughts you (and Michael) have added to my speculating.

Weekend Fisher said...

If it's any consolation, I don't think we should take disasters too seriously. I don't mean that any given disaster isn't of serious proportions, I mean that this world and everything in it was passing away anyway and we are only in this world on green cards with our home country Elsewhere.

So when the lights go out, we make a bonfire and strike up a song of praise for the kingdom that doesn't fall.

Take care & God bless
Anne / WF