Shop till you Drop
We’ve been living in serious debt: not just financial but ecological too. Essentially we’ve been subsidising the American Dream lifestyle and consumption patterns that are far beyond our actual means. That’s why the Green New Deal suggesting joined-up policies to address the ‘triple crunch’ of 1)credit, 2)climate change and 3)oil prices is such an important contribution to the debates right now. Their first report is full of specific recommendations including financing new efficient energy infrastructure (which is also what Clinton was saying on the The Daily Show today), increasing tax on profits of oil and gas companies, and supporting free transfer of energy technologies to developing countries. Definitely worth reading.
Over the last few weeks, I’ve gone through a head-hurting process of stressing, listening, reading, trying make sense of what is happening, and taking responsibility for my part in it too. What always disappoints me about ’surprises’ is how easy it would have been to anticipate and prepare for it. Some have been shouting about it for years. But despite so many people now discussing and explaining the complex drivers and implications of this crisis much more clearly, and everywhere (all the time?), I still feel there is a big risk of becoming disengaged by the drama and oh so much noise! This could make us victims to quick-fixes that won’t solve the underlying problems.
So I guess it’s up to each of us to stay engaged, go beyond the loudest media headlines, scan for the wisdom in all the information and narratives, and gain those deeper insights and clarity. Then we’ll be able to know where to put our energy, what changes to support, and perhaps how to use this recession to re-organise the world. Jamie, the wonderful man behind Loco2 the low carbon travel company, has thankfully just started a blog he calls Dealing with the Global Crisis to aid us all in making this collective shift in awareness and action.
Thanks for the kind words Menka.
I completely agree that the big challenge is getting the balance between engaging and becoming overwhelmed. However, once we have agreement on a general way forward (ie the Green New Deal) some of the fear and personal responsibility can be lifted in a wave of empowerment. As well as Clinton, Al Gore succinctly outlined the economic benefits of switching to renewables - http://www.youtube.com/watch?v=idlJDcr669o. I’ll be blogging about the coming international coalition in detail soon.
“What always disappoints me about ’surprises’ is how easy it would have been to anticipate and prepare for it. Some have been shouting about it for years.”
When I read about the warnings of the US finance system in the past it was only on privately owned websites which were then put into the “conspiracy” category.
When you read about how the system works it is like a bad joke. You should read “The Creature from Jekyll Island — A Second Look at the Federal Reserve” by G. Edward Griffin. Available on Amazon.com http://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986395
The problem with the “western economic system” is that it is built on large amounts of debt and leverage with an inadequate monitoring / assessment of risk. The key thing for me is that there is also a real lack of incentive from the lender side - i.e. once the money has been lent, the lender simply wants their money back (even if its at the expense of taking a company down). If lending was done on a more collaboratve and equity / profit sharing type basis then there would be a lot better analysis of risks and development of firms. A move to a more “convertibles” type instruments would be beneficial. Short selling is a whole other issue and probably a rant on that is not suitable for Menka’s blog
Anyway, there is certainly a problem that with the economic meltdown, issues such as global warming, sustainable development etc are being pushed to the back seat. Inevitabley these issues often do get pushed back - why? Because of the present value nature of society where immediate gains and benefits are preferred to ones experienced later in life or for the benefit of others….