The recent financial crisis demonstrate what happens when human greed is left unchecked. With high sight, the subprime is so obvious as a stupid bubble, and yet every American were rushing into it, and dragging the world down with it. Lehmen Brothers CEO walked away with US$500M in salary, while he caused world to lose trillions. The agents were getting people to take loans to buy house, knowing that they can ill afford it. Banks were financing these scheme, because they can report huge profits. Now all of us are suffering from it.
Oil prices shot from US$30 to US$450 to US$147, and now to less than US$50 within a year. Did demand and supply in the same way? When it was $140++, many becomes super rich, while the millions staved because they cannot afford rice. The Arabs and Russians become flush with cash, and they in turn buy over Western companies who created this high oil price. Now that the oil price is plunging, I am worried no one will be interested to invest in renewable and alternative energy anymore, and the green movement will become nothing more than a special interest groups movement. USA may present themselves as the world leader, as they are the biggest polluters and they refused to sign Kyoto. Hmmm....while we may blame the big guns in killing the earth, we ourselves are to blame too. How many of us are willing to pay $10,000 more to buy a green car?
Nuggets: While greed can bring in wealth, it will hit everyone of us.... eventually.
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