It would seem right now that the global economy relates well to this title with every day bringing more twists and turns of the financial rollercoaster. For those of us here in Australia trying to just raise our families, keep a roof over our heads and have a bit of fun the sheer scale of this crisis is, in many cases yet to be felt. It seems that solid assets went out of fashion many years ago in favour of “the sky’s the limit” paper trail dollars that have contributed to our current state of affairs.
I have been watching the financial crisis with perhaps more interest than usual on two fronts. One, it seems extremely likely that this issue above all else will decide the US Presidential election. Never having been to America and not one usually to pay any attention to elections I have become enthralled with the game of political chess that has been unfolding against a backdrop of capitalist Armageddon. Secondly the climate change debate, opening up of a global carbon trading market and the oil crisis are also coming to a head amongst this sea of red. I wonder if anyone will see far enough above their trenches to the green pastures just over the horizon.
I have heard it said on more than one occasion that any talk of “carbon trading” and “emissions reduction” will have to wait until the more pressing issue of the financial crisis is under control. Is it me or is this just the tip of the iceberg (should there be any left when we next take a look)? As shocking and far reaching as this current crisis is it is probably just a “bad day in the office” when compared to the irreversible effects of ignoring climate change.
Money talks. That’s fact. I am very much hoping that those cleaver traders can redeem themselves by pushing forward a morally responsible and far reaching global carbon trading market. A trading scheme where forests are valued and wealth distributed to the once farmers of the land. A scheme where the only hot air blowing is that being captured by wind farms. A scheme where developing nations can own their future through cost effective solar technologies.
Time to move Wall Street off the sand for earth’s sake.
