CONSEQUENCES

I just read a column by Thomas Sowell about the consequences of one’s actions.  “It is amazing how fast people learn when they are not insulated from the consequences of their decisions.”  Mr. Sowell’s comment reminded me of a boss who frequently commented on the consequences of the decisions we make in life.  Also the decisions you made for the company that were not in its best interest.   

There is a consequence to everything we do.  You go shopping and the consequence is you have to pay the clerk for our purchase.  If you are going to school and you fail to study, there is the possibility you will not receive a passing grade.  When you buy a car with a down payment and fail to make the monthly payments it is likely that the car will be repossessed.

Thousands of Americans bought homes they could not afford.  They managed to do this because the banks granted the loans without considering the borrower’s ability to repay the mortgages.  Talk about consequences.  Everyone is now suffering from those bad decisions.  People are losing their homes and banks are holding thousands of mortgages that will never be repaid by the borrowers.

President Barack Obama campaigned on a platform of change and now he is implementing the changes he promised.  Many people are upset, especially Republicans, about the things the president proposes to do.  A majority voted for him so now that majority must live with the consequence of that election.  A majority also elected George W. Bush president and we had to live with the consequence of that vote.

The decision to repeal the Glass Steagall Act is now being debated as the root cause of the current recession.  I believe that the repeal resulted in the unintended consequences that have brought the world to the brink of depression.