Facing the Music - Learning to Dance
Thursday, October 9th, 2008For two decades, Americans have romanced the idea of money.
First, it was the dot-com boom with twenty-somethings turning into millionaires overnight. Then came the housing bubble with charming neighborhood homes being torn down to build McMansions. Later, morning talk programs were eclipsed by financial news shows with live stock market feeds. Late night television followed with Mad Money’s Kramer becoming a national celebrity. Year by year, credit cards replaced savings accounts as individual safety nets. Leverage became the new business plan. More and more college students were graduating with enormous school loans. America piously preached democracy and capitalism to other countries, then proved the limits of that system with our own avarice. Washington was no different. To repay campaign donations, politicians owed lobbyists their livelihoods. Even the U.S. government became mired in debt, and, internationally, we earned the label of the biggest debtor nation.
Is it any wonder that the stock market and the American economy are crashing down around us?
But, despite the gloom and doom from Wall Street, despite our own personal crises, despite the political rhetoric, all is not lost. (more…)


