Nouriel Roubini to Testify on Capitol Hill

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Great. A man who normally uses $3.00 words will be reduced to using $.50 words so that congress will understand.

of CA 11:55AM October 29, 2008

Sustainable Land Development International Newsletter
October, 2008 - http://www.sldi.org/newService/SLDIOct2008.html
As previously forecast, a series of financial “Black Swans” is now upon us. These major disruptive events, which by definition were unpredicted by the establishment experts, now include the failures of Bear Stearns, Lehman Brothers, Fannie Mae, Freddie Mac, AIG, Merrill Lynch, Wachovia, and Washington Mutual, with more surprises undoubtedly on the way.
While there have been numerous authorities working day and night to solve the problem, it is important to note that these same people were the ones that were managing the financial system in the first place. According to Professor Nouriel Roubini, no professional independent economist was consulted by Congress or invited to present his/her views at the Congressional hearings on the Treasury Department's rescue plan. This brings to mind some words of wisdom from Albert Einstein - “We can't solve problems by using the same kind of thinking we used when we created them”...
...Ironically, the current financial meltdown is confirmation of a prediction made in 1995 when, as a land developer and the past-president of the Florida Native Plant Society, I authored an article entitled “Earth Restoration – The Bridge to a New Global Culture“, wherein I said, “The existing world order is teetering on the brink of bankruptcy and will not be capable of sustaining itself much longer by exploiting dwindling world supplies of natural resources and by deficit government spending…The good news is that out of these huge problems will come the pressure to replace our old system with new political and business structures that will provide for a sustainable global economy”.
How do we make our civilization more sustainable?
As outlined in our February 2008 SLDI newsletter, “Collaborative innovation is needed to unlock the future as the world is facing a variety of challenges”, and current efforts to create new sustainable land development models hold great promise for breaking the hold of failed outdated economic ideology...
...The problems – and answers – have been known for many years. It will ultimately be the visionary risk-taking land developers, the business structures we organize, the innovative technologies we use, and the quality of services we retain, that will get us there.
Your participation and comments are welcome.
Terry Mock
Executive Director
Sustainable Land Development International
www.SLDI.org
Sustainable Land Development Today Magazine
www.SLDTonline.com
Sustainable Urban Redevelopment Magazine
www.SURmag.com