Today is the first anniversary of the collapse of Lehman which as we now all know was the catalyst for the world wide recession we have all had to endure. Vast sums of money have been pumped in to support and bail out financial institutions and other big businesses which has supposedly made the effects of the financial collapse less than they could have been but at what real cost?
Last night I watched a report from the BBC’s Robert Peston where he said that level of UK support has cost each of us in the UK £43k (we’ll be paying that for years to come) and in his interview with Prime Minister Gordon Brown yesterday, the world-wide figure equates to $2000 for every person on the planet. Given that huge numbers of the worlds population struggle on less than a dollar a day and we have global issues with water and climate I personally still struggle to come to terms with having had to support banks and businesses that should have known and done better.
I know in the grand shape of things I’m a no-one but I can’t help but wonder if our world leaders have missed a big opportunity to really straighten things out more effectively.
Banks have been ripping us all of for years with unreasonable charges and less than adequate services while hiding behind their terms and conditions. And still the dinosaurs at the helm of these once respected institutions deem it appropriate to pay themselves vast bonuses. One thing that they all seem to forget is that these days having money does not equate to having power. The real power these days is having power or energy. Ask yourself where these practicing dodos would be if they didn’t have electricity 🙂
I also feel that our leaders have also missed the boat by supporting car manufacturers and other ‘dirty’ industries in the way they have. I understand that we need these companies for transport and jobs but surely …. our climate should have taken a much higher priority.
From my viewpoint rather than pander to ‘dirty’ motor manufacturers we would have all been far better off if our ‘leaders’ realised that the majority of the ‘voters’ knew how bad things were and had the balls to make the big changes needed. Rather than heading for ‘as close to old business as usual’ why didn’t they think outside of the box. Why didn’t they opt for something radical like saying “OK. There’s a big problem so lets make a massive changes no we have the opportunity”?
There may be green shoots of recovery on the horizon for some but the damage for many has been done. I sure that as time moves on and linked data technologies improve that person on the street will have the last laugh. The internet is a wonderful thing, it’s amazing what you can find out if you look hard enough.
We are not out of the woods yet but as long as we all live within our means and plan ahead smartly things will improve.
What are your thoughts?