It is said that a barking dog does not bite; it seems an appropriate analogy for the noise generated all around to fix the economy. So much is in the air from everyone who matters, everyday, but it looks like nothing changes in the way we go about our daily lives. The excesses are still being indulged-in, the debts are accumulated, trade imbalance between the US, the biggest economy by far, and China, the world factory, remains unabated!
Living within our means is a tough act to follow! The sacrifice, the changes in lifestyle & the way we go-about our daily lives have to undergo drastic changes. No one is able to bell the cat! The sad fact is some, who matter, have vested interests for the status-quo to remain, unbridled speculative activities overriding Pure Science, Research & Development that can assure sustained growth engines for the future, than be lulled into a false sense of prosperity, fueled by making money out of thin air, mostly at others’ costs!
Most have had experiences in borrowing without much forethought. When the repayments start, not only do we have to meet the installment payments, but also the interest thereon; on top of it, is regular expenses! The same analogy applies to countries that are in debt! No wonder, the leaders find it difficult to sell the idea of cutting expenses to right the wrongs of earlier follies. Add to these; the lenders mainly China & Japan also want their factories kept humming as the reality in curtailing the same can force their own people into a different world of negative growth. So the dance & the music is kept going, the noise drowning out the plaintive cries for reason!
Not only the speculation led economy floundering, even mineral rich countries like Australia are fed by export fueled growth without clear focus to fill the gap when the demand tapers off. The demand from China is powering them, but what about the future when these run dry? Even others like Africa is welcoming such all-out plundering of their minerals, as if there is no tomorrow! The harsh reality of tapping the renewable sources for energy, though at a higher cost initially, would benefit all, but no one wants to do much other than provide lip-service!
One of the causes for tensions between countries is that vital natural resources are limited to few countries, especially those needed for energy that is a pre-requisite for all. The richer countries price-out the poorer ones by far, pushing the latter into a deeper-hole; not that the supposed richer countries are paying cash across the counters for their enormous appetites! Rather than investing time & talents in finding new ways for organic growth without upsetting the eco-systems beyond repair, the developed countries are also taking the easy way-out by raping mother earth of its resources in a frenzy!
The issues are becoming more severe by the day, but the merry go-around seems to play along unabated! The resources are exploited, those with the means bidding-up the prices! On the other hand, the investments that can bring about real changes are floundering. We seem to know what to do, but do not make a real start with an eye for sustained growth. Also, we do quick-fixes & then it is back to square-one, like the recent oil spill!
No wonder, we are facing one hurricane after another in the economic landscape, without any respite! The real issues & realities will never recede. To get the virus/bacteria out of the system, fever medicines will not do, we need to bite the bullet & take the antibiotics in the end! We are compounding our problems & worse, passing them on to our future generations; our forefathers at least fought for a better world to bequeath us and stood by their principles of hard work & sacrifice!