I preceded the crash of 2007 as most of the entertainment and tourism industry got bashed with 9-11. the events of 2007 crash were simply greed and pushing paper values up via speculation and the relaxing of regulations and rules, yet, the irony is with the exception of a few bankers in iceland going to prison - many at the top were given more money to get out of the problem they had created.
I lament the idea of capitalism and everything I was taught about it, got a mulligan or a pass in 2008 as someone invented the idea of “too big to fail.” right now I am looking at the federal government and the various tariff and trade war possibilities that loom on the horizon that will simply uncover the house of cards the country built with the idea of “too big to fail' or "too great to fail."
the good news is humans are fairly resilient, and as a society, a lot of America has a layer of fat upon it that has been accumulating over the past 25 years. would a crash force people to move a bit? I never thought of the idea of "depression fitness," but we might be heading that way.
why would I think such a thing? because in the insanely complicated world of global finance and trade, and while I understand the president's frustration with what has been done to this country in the past 25 years…I think how he is going about it, is a recipe for disaster, of which the united states set up the house of cards and one gust of wind will blow it all down. this is what happens when one lives in a bubble or sorts. what do the president and his life experiences really have in common with the average American he was elected to serve? (again Mr president, not a knock, just an observation/perspective)
if we didn’t do the soft landing idea in 2008, we would not be talking about repeating history in 2018,. while I agree debt is a tool, who and what politician in us government has stood up and said, “wait, the path we are on is unsustainable!” versus gleefully just doing the status quo on debt and pass more uses of it. A part of this disbelief was how companies in 2001 were treated after paying into the systems and being naive to think the words which were spoken by the system actually meant something.
taking a cap off the asset/debt ratios for private equity deal-making seems odd when – consider how fudged the cheap money in the past 10 years has been, and how marginal interest rate increases will obliterate a bunch of firms who probably have hired gun executives thinking, "just let me cash out "big" before the next crash."
aside from the few truly super wealthy (who got a lot wealthier in the past 10 years), the “American dream” has many selling a part of their souls to the debt monster that with a few interest rate point hikes will simply have the house of cards falling. who will be picking up the pieces? the smaller USA folks that think voted the politician in power while the special interest groups who bought and sold the politicians will simply figure out another way to have a “too big to fail” moment and get bailed out - again.
it capitalism a system that works? sure. is it sustainable to human beings? not really. when you throw in some ideal of consumerism with it - it becomes a perpetual cycle of eating fast food while ignoring the size of wheel chairs in all hospitals. they aren't making them that big for no reason.
I was never really someone that followed politics in my life and was taught to be self-sufficient and depend on no one. when you get past following the ideology/legalism of religion, you find that money is a tool, but your most priceless assets are your heart and soul, of which, you need very little to actually grow that asset. in some respects, you have to let go of the money and the stuff of the world to actually get a clue about it. (some old dudes did this in 300 ad, and kept going deeper into the desert the more people came to find out why they had inner peace)
a big part of the problem in our countries leadership not only today but for the past several presidents, be they democratic or republican. the idea of serving the people has shifted more to serving oneself and worrying about a legacy when one dies. as imperfect humans, we try to present makeup and cover up some flaws for the sake of image versus tolerating, "yeah, I screwed up, made a mistake, and will try to learn from it and avoid it in the future."
instead you have a society of critics ready to unforgive, crucify and/or torture. ever hear, "the apology didn't sound sincere enough?" (i have to thank an old girlfreind for that lesson)
what is different with our current president is that he makes me wonder if he really isn’t thinking past his last twitter feed, of which he is wasting time and energy with ego driven issues than coming up with good solutions, with meat, and facts and a plan that goes beyond 140 characters. what is sadder is on the same hill he resides there are a lot of professional politicians just sitting there following the party line or simply blasting anything opposite of their party line.
if someone doesn’t do something. the façade will come out that you can’t make a country great again if all you have left is a collapsed house of cards.
while I understand and have lived through the changes of the past 25 years, the idea of social democracy with capitalism as a cornerstone can work, but it will require more balance inside and outside the country and kicking out the greed and corruption that has been running at an accelerated rate for quite some time.
one can plan and strategize all one wishes on a sheet of paper, but the reality of how it works and affects human beings is not usually thought through all that much. when I hear the relaxing of the Private equity lid on investment, and the steel/aluminum issues, and remember how even the unions abused their power…it simply does not have a happy ending if allowed to go unchecked in the next year.
oddly, as an optimist I do think a healthy and good balance can be found to make a space that I describe a balance between the stability, reliability, safety, and beauty of Switzerland – with enough freedoms for a person to grasp at any opportunity and dream they wish- to try. maybe bring back a digital craftsman apprentice program. granted, it will probably take three generations of people growing and sacrificing to make this happen, but I am reminded how many of our great and grandparents came over to this country with not much of anything and made something great happen.
I think that was a foundation of Franklin d Roosevelts work program to get out of the great depression. he paid people to do what they were skilled to do. I hear many floating the idea of a basic universal income and I wonders, “what good will that really do when you look at what has happened inside the united states with the abuses to the same programs that Roosevelt put in place?”
no one can say we don’t live in interesting times.