Monday, October 13, 2008

The Financial Crisis- A Global Psychological Impact

Here's something that was pretty surprising to me but demonstrates how a crisis can have a major, global psychological impact.  Never thought I would be doing interviews with Chinese, Spanish or Hungarian, or Romanian media outlets but it underscores how we are all in this together.

Click here for the article that circulated in Chinese papers

Click here  for the article that circulated in many Spanish speaking papers

Click here for the article that circulated in Uruguay.

Click here  for the article that circulated in Hungarian papers

Click here for the ariticle that circulated in Romania

 Oh-- and let us not forget NBC and


Max Ray said...

The most dangerous reaction to this burst housing bubble and resultant credit crisis is to lash out and lay the blame on individual scapegoats. There are so many institutions and individuals involved that knowingly and unknowingly conspired. Fannie Mae and their sponsors in congress, investment banks, Bush admin policies, aggressive mortgage brokers, realtors, and their appraisers, borrowers who were too desperate to own and overreached, speculators flipping homes, large homebuilders, and all voters for supporting polices that had the government subsidizing homeownership even to the point of creating excess price inflation. Established homeowners for spending too much of their equity on credit lines. Tax policy that made interest on even home equity lines of credit tax exempt. If we try and blame it all on Wall St then we will have learned nothing.


dr. josh klapow said...

I agree-- My fear is, however that much as it is human nature to revert back to old habits, that slowly over time we will not heed this warning and migrate back to our old ways. We see this pattern of behavior in everything from poor diet, to exercise, to being prepared for natural disasters to spending. People simply discount the risks, focus on the immediate benefits and block out the future consequences. Not surprising that we have a stressed out, sleep deprived, obese, diseased, over leveraged country....

Penisa said...

strict influence buddy. trust to get more from your side :)

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Plan du site said...

Hmmm interesting stuff