The Second Wave
Of what? One might think it is H1N1 with all the public service announcements on TV and the newspapers. Indeed, there might be a second wave and the public must always be vigilant. Practice good hygiene. (though I doubt the many of the street hawkers do, sadly)
Anyway, what I wanted to make clear was the second wave of the economic crisis that hit the world at the end of 2007. Many have thought that the worst was over and we're rebounding but this cannot be further from the truth. Politicians, bankers and policy makers all weave a web of positivity to shroud the truth from the plebeian masses. They're either doing it out of ignorance (might be the case for our lovely state) or from a decided choice. The latter is usually justified on grounds of policy, such as to "stimulate" the economy. The usual argument would be that the people cannot handle nor understand the scope or truth if they are told, hence these folks who walk the corridors of power have decided to keep the truth to themselves and to continue to go on their lives. Will mass hysteria break out if the people know? Truth be told, I know many who are not even bothered by the fact. They do not even want to know the ramifications or the underlying causes. Who can blame these "powerful" people then from shielding the commoners from such "terrifying" knowledge?
An analogy can be found in the the rearing of chickens. A chicken must not be shocked else it will not lay eggs or the meat will taste different (apparently!). So the chicken must constantly be led to believe that it's living an idyllic life (until the inevitable day, of course).
Before this post start to sound like another doomsayer's warning, let it be known again that we must be prepared for further waves of the economic crisis. It is not over yet. You don't have to take it from me. Flip open your economics book and do some analysis of your own. Surf the net and read the commentaries. Never take what people say at face value. Digest and think for yourself. Spend wisely. Be prudent. There has never been a more important day to stock up on financial knowledge.
Another public service message brought to you by me. (sadly, no sponsors :( )
Anyway, what I wanted to make clear was the second wave of the economic crisis that hit the world at the end of 2007. Many have thought that the worst was over and we're rebounding but this cannot be further from the truth. Politicians, bankers and policy makers all weave a web of positivity to shroud the truth from the plebeian masses. They're either doing it out of ignorance (might be the case for our lovely state) or from a decided choice. The latter is usually justified on grounds of policy, such as to "stimulate" the economy. The usual argument would be that the people cannot handle nor understand the scope or truth if they are told, hence these folks who walk the corridors of power have decided to keep the truth to themselves and to continue to go on their lives. Will mass hysteria break out if the people know? Truth be told, I know many who are not even bothered by the fact. They do not even want to know the ramifications or the underlying causes. Who can blame these "powerful" people then from shielding the commoners from such "terrifying" knowledge?
An analogy can be found in the the rearing of chickens. A chicken must not be shocked else it will not lay eggs or the meat will taste different (apparently!). So the chicken must constantly be led to believe that it's living an idyllic life (until the inevitable day, of course).
Before this post start to sound like another doomsayer's warning, let it be known again that we must be prepared for further waves of the economic crisis. It is not over yet. You don't have to take it from me. Flip open your economics book and do some analysis of your own. Surf the net and read the commentaries. Never take what people say at face value. Digest and think for yourself. Spend wisely. Be prudent. There has never been a more important day to stock up on financial knowledge.
Another public service message brought to you by me. (sadly, no sponsors :( )
