Talking Cultural Diversity

a discussion board for cultural and diversity issues by Thomas Kochman and Jean Mavrelis

Global Accountability: Large and Small

By Thomas Kochman - 04.30.2010

It’s often said that when trees start to rot, they do so from the top down.

This saying, as a metaphor, often applies to societies in a state of decline or decay caused by a failure of those who run them. From biblical times to the present people take their cues on how to behave from those who lead them.

This is especially true today as it applies to those who run our financial institutions.

The rapaciousness of Wall Street, predatory consumer lending practices and exorbitant credit card interest rates targeting working and middle class families by banks have had their effect, not only in undermining populist morale, but populist morality.

Not only do people no longer feel indebtedness is a bad thing, they no longer feel obligated to pay back the credit card debt they have incurred as a result of excessive spending, as shown in a recent BBC news broadcast over mounting indebtedness in Britain, and in a protest first aired in September 2009 on YOU TUBE.

But what happens when people can no longer get credit?

As the NY Times notes, “Consumer spending makes up more than 70 percent of the total economy, and it usually drives growth during economic recoveries.”

Wasn’t the stimulus package basically about getting banks to lend and people to spend to help get the economy back on track?

What happens when borrowing only as much as you can afford to pay back is not enough to sustain national or global economic growth?

What happens when what is good for the individual and family is bad for society and the world –or vice-versa?

We live in confusing times especially over what constitutes a social good and who needs to take responsibility for what.

Several things have become clear in all of this.

The problems we face and our collective stake in how things turn out are global — even, as with climate change, planetary; maybe even, universal.

And like it or not, that commits us all to finding solutions.

2 Responses so far

It’s has been greatly disheartening to watch the “powers that be” lead us all into indebtedness. The risky mortgages – the sky high interest rates- the untouchable health care costs for individuals.
Where is it going to end and when are our leaders going to step up to the plate?

Should not our solutions start by creating a regrowth of manufacturing in the USA once more?
Should we not get some programs established to lure back all the companies that have deserted our shores for cheaper labor and taxes. We need to get our Legal American citizens back to work again. Producing quality American products on American soil with American Labor and American textiles.
There is no good reason for us to be having to buy mass made, poor quality, imported goods just because we can no longer afford to buy American made producs.
More and more Americans are losing jobs because of plant closings because we can no longer afford to keep up with the imported junk they are shipping in to the US daily.
True it is the American people buying the imported goods that come in but it is a hard fact of life that for the most part we have no choice but to pinch our pennies and go for the less expensive imported goods
Between taxes and paycuts and layoffs and no jobs at all it is becomming a MUST!
We need to get our Buisnesses back on American soil and get our jobs back where they belong…..Back to the American people who so badly need and want the work!! We need to join together and get our country back on the Industrial Revolutionary tract again. Our country continues to sink deeper and deeper into debt and the American people are getting angrier with each plant closing.
President Obama, the Senator, and House of Represanatives can get together and DO something about this. They CAN and they MUST bring this country back to a place of greatness that it once held on this earth. Without a people who can hold their heads up high and walk proud in the knowledge that they are able to support their own family this United States is going to fall apart.
Middle and Lower income Americans are suffering more each day. Now it trickles to upper Middle class. More voices are heard every day.
Our beginning is to get Big Business back home. To get jobs to the people in the United States.
Now don’t evennnnn get me started on the state of the Military! Lets just worry about the economy for now, lol

Leave a comment