Originally Posted by Oldbabe
Tadpole, that is a brilliant assessment and exactly my thoughts as well with the addition of the plant CEO who decides that since the plant is still producing widgets decides to ask the VP of finance to put a positive spin on things so that the company can continue to finance as much debt as possible (to the Chinese) so they can continue selling widgets and making money until the plant blows up, hopefully after working hours so nobody gets hurt.
Yes, short term thinking on the part of all parties, government/politicians, industry, and US citizens alike is the shadow in the room that no one wants to address. Sigh, I don't see anyone wanting to go back to the good old days so I guess we just will have to win and lose until risk management or something catches up with out of control desire. Embedded in many of the problems we see today was a failure of accurate assessment of long term consequences. So I use the process control analogy to suggest short term re-examination of the variables. Shocks will still occur but maybe they can be reduced in both intensity and frequency.
So, now in crisis, we thrash in the dark, still seeking those short term wins and waiting to see what happens. Brave new world or reversion to a global mean?
Part of what I wonder is whether the investment in building tomorrow's markets out of today's third world countries using a model where those economies sell back to the US backassward. Should this investment be geared to sell more outside the US to those markets? Then I realize how US centric I tend to be and hope my views are wrong/clouded.