Sunday, September 21, 2008

Fixing the financial crisis - what is the next crisis?

There has been an epidemic of forgetting of the fundamentals. So much has become one big shell game. It seems likely that Washington and New York will, at least for a while, recognize that without focus on the basics, else is just an illusion.

However, there are other crises looming. Most recognize that health-care is one such. Why does the US spend more on health care as a % of GNP than any other Western country, fail to cover so many, and get worse results than virtually any other? Beyond this, the US has a failing infrastructure. We need roads, bridges, power transmission lines, railroads, airports, and schools. This country has failed to keep up. Politicians have continues to mortgage the future and it is essential that they get out ahead instead of only reacting to circumstances.

Business people have to know that ultimately, it is their own actions which make success or failure. Whatever the situation, some businesses prosper and some struggle.

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