Monday, October 08, 2007

We are losing precious time (2)

As we have seen last week, it is time to concentrate on something else than terrorism, war, boycotting, and insulting other countries.

The Real World has also noticed how poorly we can manage a natural disaster (Katrina), and the various problems facing certain industries: airlines, housing, health-care, automobiles, border with Mexico, school system, etc. etc.

The high price of energy is affecting the airline and trucking industries. Our employment figures do not meet the required criteria, and we are facing a serious recession. In the last five years, the cost of jet-fuel and diesel-fuel has more than double., affecting the earnings of all involved companies.

The Organization for Economic Cooperation and Development, a Paris-based group of 30 industrial nations, issued a report warning that the credit crisis had dimmed prospects for economic growth, especially in the United States.

But our great genius representatives in Senate and Congress prefer to lose their time in boycotting certain ads, and showing the rest of the world, that freedom of thoughts are in danger in a democracy, that still did not learn how to count votes.

Our elected officials still do not realize that the value of our American Brand is vanishing (see our article, August 30). Worse, an increasing number of countries, companies, institutions, are starting to distance themselves from American entities, labels, partnerships, relationship, etc.

Last week, shareholders of Daimler were eager to welcome the move to unwind the name Chrysler. The renamed Daimler-AG will also call its passenger car business: Mercedes-Benz-Cars, in honour of Carl Friedrich Benz.

Understand that it makes sense to withdraw the name Chrysler, after the sale of the said disastrous division, and a loss of $29 billion for a venture in United States. But we must notice how fast the shareholders decided to drop a US link. Combined with the out performance of Toyota and Honda, it shows that Detroit does not know how to manufacture automobiles, anymore.

It also shows our lack of clairvoyance and incompetence by not forcing the previous Big Three to produce better cars, and increase their mileage per gallon. It also demonstrates the irresponsibility of Congress to listen to lobbyists, who, by the way, have been working against their own interest. Unfortunately, because of spineless elected officials, our auto industry and our own economy is paying the price today, and for more than a generation to come.
Alarming that we do not realize it....while the real world knows it, for quite a while. Let’s show that we are serious. Let’s start with a few examples (Fannie Mae, for reasons explained last week). More than time to clean our House, and fire those who have no ethics, no moral, no competence.
If we want to restore our credibility and prestige, we must start by choosing competence, ethics and talents, over political nominations and sycophants.

New York Times
We are pleased to notice that today's editorial of New York Times, "American Dream in Reverse", does not include Fannie Mae as part of the solution, as the editor was suggesting, a few weeks ago.
We agree with one of the comments: "what is missing is executive leadership to bring together many players, including lenders, servicers, bankers and various investors. All of them are affected differently".
As reported, we have 700,000 fewer homeowners than six years ago, and we might reach one million by 2009, in spite of an increase in population, thanks to irresponsible Senate, Congress and White House.
However, we do not believe in Government assistance to speculators and foolish developers, nor to those who were buying upper-class houses with a clerk salary. Financial help should be restricted to those who have a steady employment, and can demonstrate a recovery with a sound financial budget, under supervision.
Notion of savings and sound family budget should be encouraged and installed. If not, we are just throwing away more money on citizens who will never learn (and are not interested) to get back on their feet. Perhaps, their children will understand the importance of savings, the importance of wise spending.
As we can see, we have so much work to do at home......if only to catch up with the Real World. No more time to lose by creating enemies abroad, and dictating other countries.
The Facilitator.