For decades voices in the woods have been warning us of impending crises in the foundational systems that make the U.S. economy go. We’ve been advised of impending disasters in Social Security, Medicare, pension funding, the national debt, healthcare, energy and increasingly, employment. Charles and others sounded the alarm on the housing bubble years before it hit.
But as has become our happy little way, we ignore warnings, preferring to dismiss them as the staple fodder of the “gloom-and-doom” crowd.
We should have learned our lesson with the exploding of the real estate bubble, but perhaps we haven’t. It could be that we’re doomed to experience the falling of one domino after another until we come out of our media induced entertainment stupor fully prepared to face more than a few ugly realities.
While the fallout of the housing and mortgage collapse has proven to be a crisis worthy of capturing our attention, other dominos are indeed falling, but doing so with far less fanfare and concern.