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Shmuley and Rick in a Public Discussion
Shmuley and Rick in a Public Discussion
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Monday, February 23, 2009
Where are America’s Wise Men?
I am no economist but you don’t have to be an expert to see that no one in America really knows how to fix our economy. The Bush Administration threw trillions of dollars at the problem and made no dent. Barack Obama is doing the same. Still the markets tumble, still the recession deepens. One day we hear that only by rescuing Detroit and all the homeowners who are in over their heads will we stabilize the economy and the next day we hear that by doing so we are encouraging the greed and slipshod business practices of those who got us into this mess in the first place. I was speaking to a 22-year-old man the other day who has been unemployed since he was 19. He bought his girlfriend a $15,000 diamond and took her for vacations all over the world. He simply put it all on his credit cards with some bank who couldn’t care less whether he could repay them. Now that they’re teetering, the American taxpayer is paying for her diamond and we all wonder, does any of this make sense?
As the sky is falling all around, what I’ve learned more than anything else is how life’s most precious commodity is wisdom, the ability to know how to proceed in challenging circumstances. What America is showing the world is that for all our smarts we lack true wise men. We really don’t know what we’re doing. The same can be said about the other nations whose economies are imploding as well. We’re smart, but we’re not wise, the difference being, as the old Jewish aphorism goes, that the smart man knows how to extricate himself from a situation into which the wise man would never have gotten himself into.
In the next few blogs I’ll return to this issue of wisdom and what we can do to obtain it.
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Monday, March 02, 2009
Daniel
It wasn’t a lack of wisdom that got us into this mess. It was lack of courage.
Heading off this trainwreck would have required a politician to stand up in 2003/2004 and tell the American people that their houses were overpriced.
It was far better for their job security to wait for the bubble to pop and then try their best to clean up the mess.
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