My father is 85, born as a menonite farmer during the depression, was going to be a preacher until he went to World War II were he met my irreverent Italian mother whom he married and brought back to the US. He dropped religion and became an athiest even though in all other ways culturally he remained quite conservative and true to his prudish upbringing. He ended working for Westinghous in their atomic energy division until that closed down. He was a lifelong democrat until Reagan, become a republican through George Bush's first term. He voted for Obama.
So I asked the old man yesterday how he viewed the current economic crisis and what he saw happening going forward.
He said the economic recovery will not happen quickly this time around since there is no more bubbles to inflate since the last two, the banking and consumer were fake, unlike the manufacturing and information technology booms which were based on something concrete. He said the era of governments backing corporations and the banks is over and that the government will turn to a more socialist agenda to focus on the needs of the middle class. He said this is necessary since now it has become clear that corporations and banks are only out for their own profit. He said it is time for the government to look out for the little guy. He is a great fan of Obama by the way.
Around mitigations for issues like peak oil and global warming my Dad said the human being is not capable of changing his appetite for growth and expansion and all attempts will be futile. He said this will be taken care of by mother nature sometime in the next 200 years. I told him it will happen in my life time and certainly in the lifetime of my daughters. He is skeptical of any radical changes to the status quo in either direction, up or down.
Just interesting getting an old man's view of things which I thought I would share.