Tuesday, May 4, 2010

Life in the Age of "Much Worse Than We Thought It Would Be"



What was just a troubling oil spill a week ago is now,according to Interior Secretary Salazar, "a very grave scenario," and "potentially... very catastrophic."

In other words, it's much worse that we thought it would be. Has there been a crisis in the last decade that turned out to be better than we thought it was going to be? We are still fighting two wars that were going to be cakewalks, but have now lasted nine years and seven years -- much worse than we thought it would be.

Katrina looked like it could be bad but -- even though there were plenty of people warning about a Category 5 storm breaching the levees -- the devastation ultimately was much worse than we thought it would be.

Same with the housing bubble that was fueled by the Wall Street casino. Even though we now know that people in the Fed were warning of big trouble ahead as early as 2004, the warnings were ignored -- and when the bubble burst in 2008, it was much worse than we thought it would be.

The foreclosure crisis hit hard in 2009. But the government promised to protect homeowners... so when the first quarter of 2010 brought the highest number of foreclosures since they began keeping records, the scope of the calamity was much worse than we thought it would be.

In October 2009, the unemployment rate hit 10.2 percent, a 26-year high. But the $787 billion stimulus package was going to bring that down. It has, but not by much. Turns out, the unemployment crisis is also much worse than we thought it would be.

Perhaps we should start calling this the Age of "Much Worse Than We Thought It Would Be."
Our shortsighted thinking is still on full display in the Gulf of Mexico, even as the enormity of the crisis becomes undeniable. In a speech on Sunday in Louisiana, President Obama
called it a "potentially unprecedented environmental disaster," and said the spill "is unique and unprecedented." And in downplaying BP's responsibility for the spill, a spokesman for the company also called it "unprecedented," saying "it's something that we have not experienced before."

That's the nature of unprecedented things -- they've never happened -- until they happen. But just because something is unprecedented doesn't mean it's unpredictable or that we're unable to plan for it. We can't see the future, but we can prepare for it.


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The dogmas of the quiet past are inadequate to the stormy present. The occasion is piled high with difficulty, and we must rise with the occasion. As our case is new, so we must think anew and act anew. ~ Abraham Lincoln

The first problem for all of us, men and women, is not to learn, but to unlearn. ~ Gloria Steinhem

Never doubt that a small, group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has. ~ Margaret Mead

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