THE OBJECTIF

With years of irresponsible spending and the lack of regulations in the financial sector, there is no doubt the US is undergoing a stress test. While other countries were spending cautiously, the US went into a spending spree simulating the fanatic heeding the prophecy of his spiritual leader that the world is coming to an end and the wise thing to do is to spend everything before time runs out.

Now, there is so much anger brewing in some quarters. The sad thing is that the enormous energy the anger generates is not used to create a pragmatic solution. Instead, it is used to only bash available plans. The notion that more anger is good for creative thought seems to have taken root.

As the financial crisis shows its wounds, policies are no longer crafted in the confines of the US Capitol building through meticulous deliberations. Policies are apparently engendered on air  by talk show hosts eager to please their listeners.  

The onset of a financial crisis does not come without panics. Sen. Burr of North Carolina is reported to have panicked at the dire news coming out of the financial sector that he immediately instructed his family to make many runs to ATM machines as his solution to the financial crisis.  

Words like secession that were only commonly used in developing countries now begin to be used more frequently. Gov. Perry of Texas has flirted with the thought of secession because he has been given too much stimulus money by the Federal Government. It leaves one to wonder if the economic dent has pushed even elected representatives over the edge. Unlike in other parts of the world where regions secede because they receive very little money from the central government, Texas’ secessionist thoughts are otherwise unique.

Some people are now talking of a class war. A number of Americans are screaming that the lone economic recovery plan will help others milk the wealthy to death. Those bound to benefit from the plan say the wealthy have enjoyed a virtually tax free life and it is now time to refund what was gained by virtue of status and opulence.

The insurance industry is no novice to insurance fraud in times of financial difficulties. Car owners unable to make the monthly payments on their cars have resorted to roasting the cars in order to claim the insurance. Delusional gun owners see an impending chaos and have begun stockpiling guns because they believe law and order will crumble thereby rendering the police ineffective.

Americans have been at odds with illegal immigrants taking away jobs. The economic crisis has apparently aggravated that frustration. While some feel the outsourcing of jobs either created or worsened the financial crisis, others believe illegal immigration exacerbated it. The dilemma about illegal immigration is that though it is illegal, the low wages earned by illegal immigrants help reduce the cost of production thereby making some industries to remain competitive with countries that produce and sell cheap. Illegal immigrants are largely unskilled and whether they are draining the system or propping it up during hard financial times is another question with no easy answer.

Religious groups have also opined on the financial crisis like they did on the war in Iraq.  Some religious groups contend that as some backsliders are pushed to financial extremities, they will be no other place to turn to, but to return to their former congregations. Other groups have likened the financial crisis to Nebuchadnezzar’s dream in the Christian Bible. Such prognostications and attributions are not new. Memories are fresh about the frenzied spending in certain parts of the world in the closing days of 1999 which reverberated from the prophecy proclaiming that the world was to end in the year 2000.

For a lot of people who have gone through a series of stress tests in their life time, going through the economic crisis is only seen as another race just made longer by a few miles.

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