Economic Crisis

What Happens Now?

Among Larry Wilkerson’s vignettes, he touched on themes both cautionary and uplifting. The balance tipped throughout. Discussing empire, he drew memories of the familiar parallels. But he brought it home to each individual in their own ways. Each will judge if we’re rising or setting; half full or half empty.

On a recent Friday, David Smick was invited to Washington to give a lecture on his new book, the World is Curved: Hidden Dangers to the Global Economy. Though not sure he agrees with David, Wilkerson recommends a read, “I gotta remember he is a financial consultant for people like Lee Kwan Yew in Singapore, some of the major hedge funds in the world and so forth.” Smick explains in layman’s terms what has happened to us with regards to those worlds and “…whether he is right in terms of the solution or not, his explanation of the problem is pretty good.” Wilkerson says he has absorbed much of the same aspect from a lot of other people too, including what he calls some of our best minds.

The World Gets Its Curve Back

David Smick, Wilkerson tells us, says that Tom Friedman is looking at the world through other than economic and financial eyes. "Tom says, look out there at all the wonderful things." Smick says, "Through financial and economic eyes, the world is curved, I can’t see a thing. There’s no transparency."

Commenting about a recent presentation by Smick, who authored The World Is Curved: Hidden Dangers to the Global Economy, Wilkerson told the gathering in Williamsburg, this is especially true if you start passing toxic waste, "securitized and wrapped up in things like CEOs and whatever" out to the rest of the world and there’s no visibility until one day you turn over the salad leaf and you say “Wow, look at that worm!" And then all of a sudden that worm panic spreads throughout the global economy and that’s in essence what has happened. And largely the United States passed most of that bad commercial paper out. And this may eventually create as much anger at us out there in the world as our "War on Terror."

Morris vs. Marshall in 09?

It is looking more and more likely that Russell Morris will step into the ring as Bob Marshall's latest challenger in the upcoming 2009 Delegate Race. Russ is an experienced and talented business executive with a keen eye for practical and innovative financial solutions.

Hunger Comes Home

Sometimes the human cost of this economy gets lost in the background; coverage of bailouts and blame-placing often trumps what is happening to those who were "the least of these" among us even before the bottom fell out. Recently, however, Roanoke's WDBJ7 reported on a story that will rip your heart out, and one that is indicative of just how bad things have gotten.

Appomattox, Boones Mill lose 200 jobs

From WDBJ7's newscast tonight: More bad news for Southside's job market today, as North American Homes laid off about 40 people in Boones Mill. Appomattox lost about 160 jobs total when Thomasville Furniture cut production.