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 iVillage.com
5 comments:
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.
source: www.mortgagefit.com
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....
strict influence buddy. trust to get more from your side :)
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Hmmm interesting stuff
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