Dominoes

The year 2008 is over. It was a history-making year in so many ways. Our country elected the first black man president in a presidential race that also saw a woman running for president and another woman chosen for a vice-presidential running mate. It became a race between experience and change, status quo and new ideas. Change won, but it will face a country and a world on the brink of economic disaster. President Obama will need more than a few aces up his sleeve as he takes office. He will need… miracles.

It was a year that saw banks fail and the economy take a nosedive. It was a year that saw record mortgage defaults. Homes fell into foreclosure as the housing bubble burst. Greed put unqualified homeowners in houses they could not afford with adjustable rate mortgages that were then “bundled” and sold off to the next investor. We saw our government scramble to bailout large investment firms and insurance giants as toxic mortgages and something called “derivatives” came home to roost. It was one of many dominoes that began to fall.

It was a year that saw large, familiar retail chains head for bankruptcy and store closings, if not go out of business altogether. It was one of the worst Christmas seasons on record for retailers. It was a year that saw Ford, Chrysler and General Motors heading for massive layoffs and ruin as Americans stopped buying cars, trucks and SUV’s. Even with massive federal bailouts, banks stopped lending money. Americans across this country have gone into survival mode, afraid of losing their jobs in a shrinking economy and losing their homes in the housing meltdown. They watched their retirement 401K’s losing value with the rise and fall of the stock market.

One bright spot is the huge drop in the price of oil leading to a dramatic lowering of the price of gasoline. This summer saw the price of a gallon of gas rise to over $4. Many people were struggling to pay for gas just to get to work, but ironically, now that prices have fallen, many people no longer have jobs. Unfortunately, those who work and invest in the oil industry are now feeling the pain from consumers cutting back and driving less. Quickly, the days of obscenely high oil profits have gone away.

It is hard to be confident when we live in fear. When there is little confidence, the economy reacts and that just creates MORE fear and less confidence… and so goes the recession. It is amazing how one thing leads to another and then another… We fail to see just how interconnected we all are. Each segment of our society relies on the next to keep our economy moving. When one segment fails…like dominoes…we all fail.

At some point, we must overcome this FEAR that has gripped our nation and the world. We must begin the process of picking up the pieces and moving on. Here’s to 2009 being a better year, a year of salvation!

FOOD for THOUGHT...