Wednesday, May 6, 2009

2 Random Thoughts on the Financial Crisis

Before the swine flu or AH1N1 virus flooded the headlines these past few weeks, news about the financial crisis dominated the primetime newscasts in every country. But the gloom and doom news had been replaced by signs of hope that the world economy is starting to recover little by little. Still, things are uncertain if they would go back the way it used to be. But I guess, we should not be hoping for things to 'get normal' because these things will happen again.

Instead, we should be hoping that things would change so that it would not happen again.

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We have seen banks collapse and companies close down. Then most governments would infuse lots of taxpayers' money in these institutions to revive them. Isn't that a little bit ironic? We are helping out the people who had been the culprit behind this mess. That would be really a stupid move to bail out banks that had been very greedy and irresponsible in handling their finances.

I had been furious to find out that despite knowing that their financial institutions are on the brink of collapse, they still gave out hundreds of millions in bonuses to their top executives and employees. Despite knowing that the economy is going to be in bad shape if they did this and that, they still ignored it and wallowed in their money.

Now, because of their stupidity, greed and irresponsibility, we are all suffering.

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I think governments should instead be helping out the victims of these heartless people. Governments should create jobs for them or help promising industries that would not be doing the same mistakes that these perpetrators had done. Governments should enforce stricter rules in the 'free market' so that these greedy people cannot do any more damage to the people.

The money that they got from the people should go back to the same persons who have contributed their share in the nation's coffers.

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One thing that I have noticed about the news these past few days is that governments are scrambling to help out ailing car and tire manufacturers gravely affected by the financial crisis. Haven't they thought about this: we can't eat these cars or tires.

Isn't it time to address much important issues like food security? After all, we don't live by driving cars, we live by eating food.

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I think we should not be too emotional in seeing companies that have a 'long history and tradition' of manufacturing good cars or managing investments to permanently close down. We don't need them. We can live without them. In fact, they exists because of us. There could always be new players that would take in the 'role' that had been left behind by these 'great' companies.

New players that would be fair and just in their trade.

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We have also seen that mankind is producing too much than it could consume. Isn't it also time for us to scale down everything else that we do?

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The helpless victims here are the poverty-stricken people. We should never again let these greedy rich brats to ruin our lives.

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A nice quote to help us all get through this 'crisis'

"The Chinese use two brush strokes to write the word 'crisis'. One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger-but recognize the opportunity." - John F. Kennedy

Photo taken from here.

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2 comments:

  1. tama ka dennio,,,sabi nga ni dr.villarta (professor ko),,,crisis is an opportunity for growth...pero depende yun sa paraan ng pagtingin mo sa crisis na iyan...

    ReplyDelete
  2. you are so right :)
    pero yeah. sometimes i do get tired of these. pero i think naman na it's normal lang. so yeah.

    ReplyDelete

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