Sometimes the best approach to moving forward is to take time to look back in order to see what we’ve come through and what, if any, lessons we’ve learned. While economists say that America’s economy is pulling itself out of the economic downturn, with the global economy still on shaky ground it is clear that America still a long way to go to achieve across-the-board economic stability.
This movie, Inside Job, examines what brought about the financial meltdown in 2008. According to IMDB:
‘Inside Job’ provides a comprehensive analysis of the global financial crisis of 2008, which at a cost over $20 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. Through exhaustive research and extensive interviews with key financial insiders, politicians, journalists, and academics, the film traces the rise of a rogue industry which has corrupted politics, regulation, and academia. It was made on location in the United States, Iceland, England, France, Singapore, and China.”
In other words, it’s still the economy. Until we are ready to deal with the underlying issues that allowed Wall Street to run amok and unchecked, we run the risk that we are likely to face this type of collapse again. The actions that caused damage to the global economy have been examined but not enough has been done to correct the fundamentals and, just as important, punish those who gambled with the nation’s financial stability.
Under the same circumstances, history does, indeed, repeat itself. Do we really want to forget the lessons of the past? One would think that the Great Depression would have taught us something.