INDEX - ECONOMYwww.islandbreath.org ID#0806-36
SUBJECT: ECONOMIC TSUNAMI
SOURCE: BRAD PARSONS email@example.com
POSTED: 25 OCTOBER 2008 - 4:30pm HST
An 'Economic Tsunami' you say?
image above: Aftermath of 1960 tsunami in Hilo, Hawaii - sixty-one people died.
by Brad Parsons on 25 October 2008 in http://alohaanalytics.blogspot.com
Recently politicians (Bernard Carvalho) and policy makers (Alan Greenspan) have used the fearful word 'tsunami' to describe the economy.
This conjured up images in my mind (around Hilo Bay) from when the last real tsunami's also hit Kauai in 1946 and 1957, both significantly affecting Kauai.
If that metaphor is to be used, it should be looked at what happens when a tsunami actually hits. At first, the severity of the situation is not readily apparent as the water recedes and reveals fish for easy catchings. I can certainly imagine an inexperienced politician, quick to react, making similar such policy mistakes in trying to quickly react to a 'economic tsunami.'
Both of the real tsunami's that hit Kauai in the past century came in multiple waves lasting over an extended period of time. The full effects were not known or understood until well into the disaster.
What is happening with the economy now is not known nor understood even by those, like Alan Greenspan recently admitted, who oversaw its creation and escalation under a Republican Administration.
When voting for a local elected official who will need to lead during these times of complex economic events, it is important to choose the candidate who is personally intelligent, experienced, and versatile enough to handle the complex and shifting problems that the island will face in the years ahead.
JoAnn Yukimura is the only candidate for Mayor who fits this description. But, beyond that, the Mayor will need the help of all of the people of Kauai to get through these manmade events from afar to an even better place and community that Kauai can be.
Island Breath: Kunstler - "What Now?" 10/20/08
Island Breath: Flight to Abstraction 10/18/08
Island Breath: On Borrowed Time 9/28/08
Island Breath: The US Debt Rattle 9/18/08
Island Breath: Desintegration of System 9/17/08
Island Breath: Last Ditch Effort 9/15/08
Island Breath: Peak Global Economy 7/29/08
Island Breath: Fannie Mae & Freddie Mac Mess 7/14/08
Island Breath: The Perfect $torm Approaches 6/28/08
Island Breath: Report from the Bank of Banks 6/28/08