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The Preachy Blog

Commonplace on credit payback

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9/30/2008 -- Commonplace on credit payback

A blog entry loosly related to the current financial crisis. This crisis seems to be yet another opportunity to proof, that sooner or later all bills are to be paid for any credit taken. This applies to the financial crisis (being paid now by the loss of millions in savings, plus a more-or-less made-up "700 billion dollars" to stabilize the situation (how did we come up with this figure?!)); and it applies for any "credits" we take for unsustainable expenses in other areas (yep, this aims at our environment, this blog is not called preachy blog for nothing!).

Sad though, because as with any credit, it would be wiser and cheaper to cut down on expenses today, than paying back much more later, including risks up to bankruptcy. Speculation only what this "bankruptcy" would mean in terms of the environment we live in. Makes me putting online the presumably presumptuous green tip "Distinguish needs from luxury". Little awkward putting this online these days, but note it is solely aiming at environmental, not any financial issues.

As written there (see link), it seems pretty obvious that we are living beyond our means, i.e. we are taking a credit "encumbered on our future" if you will. Common sense one would think - but does anyone care as long as the debt looks "manageable"?! Sure not. It sounds like a commonplace to switch down some gears to avoid a crisis, but we rather choose to continue turning our environment into colored little pieces of paper, which we can amass in bank accounts.

Guess future generations will be amazed excavating that along with piles of gold, as we are amazed discovering other civilizations which went straight south due to environmental mismanagement.

Well ... what I read there are also examples of societies/civilizations which manage since hundreds of years to live in line with their surrounding nature, i.e. sustainable. Let's hope we'll also make the turnaround in our lifestyles, and don't have to pay back too much interest on the credit for today's wealth and endless convenience.

Comments on this blog post:

081021 234312 from admin [wk]

This morning in the radio: a statement from the director of the Potsdam Institute for Climate Impact Research (PIK), Hans Joachim Schellnhuber, referring to the financial crisis [my own translation from the German original ]:
"Look at how many billions have now been wasted by short-term thinking and hoping that it's not required to think beyond today's day (...). The exact same manner we currently treat nature and climate. We try to get out the big profit short-term, for example by burning fossil fuels, and we do not consider the loss in capital. (...) [T]his waste of capital we cannot afford in the long run and it must be made clear to the citizens, that we try to treat our natural ressources with the same mentality as the world slid into the financial crisis, and that will lead to a collapse. However, this collapse will then not be fixable with 500 billion Euro."

100111 044800 from online stock trading guru

There is obviously a lot to know about this. There are some good points here.

I'm Out! :)

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