Thursday, November 20, 2008

And they want more?

The CEOs of the big three automakers flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

ABC News: Big Three CEOs Flew Private Jets to Plead for Public Funds

This is a clear example of the excesses that have created so much of the “crisis” we are experiencing — and it is such ingrained behavior that, even in bad times, they just cannot stop. It is a good thing, though … as with all cycles, this one is coming around and we will become somewhat more frugal until the “crisis” is over … and then the next cycle of excesses will slowly start. Until our world breaks away from a mentality of “having more” to one of “being/doing more” we will see this again.