Jan 01 2009
New Year Brings New Attitudes?
New Year Brings New Attitudes?
Oh, I wish, but I doubt. I see and hear so much of the arrogance and elitism that brought down the economy during the past year.
We see it on Wall Street; we see it in the banking and insurance industries; we see it in the auto industry.
The only humility I see right now is in the retail sector. Yes, they were hurting at year’s end, and many hundreds of retailers will NOT recover. They will go under. More unemployment, more pain for lower and middle class Americans.
The politicians around the country are gearing up for new legislative sessions. They face tighter budgets and fiscal disasters in their investment and pension funds. State and local governments are hurting–probably as much as the retail industry.
The financial industry and investment bankers remind me of alcoholics or drug addicts. They have to really hit bottom, face death and family ruin, before they finally can begin recovery. I don’t see much humility among the “big money” people in America. Although they may be keeping a pretty low profile at the moment, I believe, for the most part, they still have their homes and cars, and villas, still take winter cruises and vacations in Aspen and Vail.
I hear the “Hollywood” types are not wearing so much bling–not wanting to appear ostentatious. Big deal. It’s attitude that is the problem.
The attitude problem is huge. So, while I would like to “hope” for the best in the new year, “hope” will not get us out of this mess. I just think the “wake-up call” hasn’t yet been heard by the big money people. Billions and billions may bail them out, but the rest of us will still suffer.
