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How Did We Get Into This Mess And How Do We Get Out
I just complete my post on the 200 top Automotive Executives and I have to say the following:
We Americans have been resting on our laurels. We have to pick ourselves up and start making quality merchandise that can compete in world markets. If we can't be competitive then we have to find other products that we can compete with. We are a great country with great natural and human resources and there is no reason why we shouldn't be a world leader, or at least able to hold our own in world markets.
And if we are already talking, this whole financial crisis is the result of irresponsibility, greed, and corruption. According George Soros, one of the best and most powerful stock market wizards, the mortgage crisis has been building for 60 years. Instead of letting the housing market correct itself every ten years or so with a small market fall, the American Government bailed out the market by giving more and more credit. During the entire 60 years, the mortgage companies and real estate investors were raking in a bundle. Finally, last year the credit market burst, taking down the whole world with it and we got stuck holding the bag. This is what is called in Biblical language: the sons get punished for the sins of the fathers down to the third and forth generations. Therefore, if we want to recover economically, we need to return to hard work, integrety, and general morality.
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