January 15, 2010

We need a new morning, before darkness sets in!

Sir Gillian Tett holds that “Deleveraging out of the debt mire will be an unsavoury task” January 15 mostly because “it remains a very open bet whether western voters will accept austerity without a backlash”.

Good for her, that kind of opinions are exactly those needed in order to start to prepare a debt resolution plan that makes sense for future generations... since what least makes sense is to hang on to something unsustainable just because that is the right thing to do. Anyone proposing the "hang on and let’s work it out" route should first establish how much of a tax on his wealth he is willing to contribute for such a dignified purpose.

The value of a clear morning no matter the storm during the night should not be underestimated. I would prefer my children to work for their tomorrows than to pay for our yesterdays. And if the young find some resources to take care of us baby-boomers then that would be a much welcomed and appreciated bonus.