If, and when, a true sense of community prevails, our society will get on the right track creating an emerging prosperity. With the calamitous downfall of the stock market, families without homes, increasing joblessness, and overwhelming debt our country must change:
Debt manipulation should change to debt management. People should be encouraged to manage their debt by paying off their bills instead of manipulating their debt like Wall Street investors.
Enable the prosperity of working men and women. Government, corporations and large businesses need to realize and appreciate the reason for success or failure lies in the efficient contribution of the workforce more than the wisdom of top management. Pride in American labor must increase. Downsizing and shipping labor overseas often causes harm, rather than gain, by producing an inferior product that cannot, or should not, sell.
Government bail-out programs need to fulfill their purpose.
Bankers and investment gurus must be regulated and held accountable to entice investors, and all of us must tighten our belts for a slow recovery.
Our economic calamity dictates change in our lifestyle.
Americans must learn to live differently. The greed in today’s society drives production to feed extravagant consumption. Adjustable, then sub-prime mortgages dominate home purchasing; credit and debit cards replace cash and checks and debt accelerates as our economy crashes in a Wall Street disaster.
However, when our government has failed, private efforts have often succeeded:
Emergency supplies from neighboring states were trucked into New Orleans and surrounding communities quickly after the Katrina disaster
Charitable private home builders donated labor in the same area
Flood relief supplies in Washington and other states helped farmers, home and business owners reclaim their losses
I grew up during the Great Depression. Needs for food, clothing and housing prevailed. Communities learned to take care of their own. Small families in large homes rented rooms for a pittance and labor was traded for food and shelter.
I recall our small town grocer, Ollie. He recruited all the kids to go door to door and sell the new product Jello. Then, he put on an ice cream, soda and hot dog celebration in the town park each Saturday. Every kid feasted on all he or she could eat, regardless of how many packets of Jello sold.
Excessive lifestyle is past. Federal and private enterprise need to realize this.
Our economy will recover while we strengthen our nation through:
Preventing community blight. My realtor friend, Karen Stein suggests, “Rent bank owned foreclosed homes back to the homeowner to maintain the property.
“Green” industries conserving fuel and protecting the environment
Pharmaceutical and medical research increasing efficiency and saving lives.
Integrity in advertising curtailing false promotion.
Manufacturing efficient affordable products.
Common sense financing.
These changes must come to dominate our industrial complex.
Prosperous opportunity for every man, woman and child must replace consumptive greed.
Bob Olson lives in Bellevue.
