State of America

In the last few weeks, I have been in a blogging slump. To be honest,  I have been a little distraught by the state of the economy – national, local and personal. It has made little sense to post things that value consumption when so many people are cutting back their consumption. 

Last week, I had an interesting conversation with a friend of mine yesterday on America. His point of view was that America's best days were behind us. For some reason, I just felt as though that idea was wrong.

The country that developed and populized the internet does not have its best days behind it. In fact, I think the best days are in front of us because we are seeing a sea change in how consumers relate to brands, to one another and to the world at large. Maybe people are not relating to one another in the same way as they did in the past but I think that today's network-centric life will pay dividends in many ways. Here's a few of them. 

• I imagine we'll see an increase in bartering but on a state and national level. Even international. I wonder if local communities will go the way of Notegeld, the local 'currency' during depression era Germany ravaged by inflation. 
  
• Everything DIY. If there's a stock to buy, it would be firms that help consumers and businesses make anything. Hell I may even invest in a sewing machine myself. 
  
• Green alternatives will become more popular as people look for any way to reduce costs. 
  
• There will be a renewed emphasis on the local store, many of which have disappeared in recent years. I know that I have been more focused on the local produce stand and buying things from the bodega, where it's price competitive. 

On the flip side, I get the sense that cities are going to be in for a rough time again, akin to the 70s and 80s.

• High cost and high unemployment will lead to a resurgence of crime and lawlessness (my biggest fear in NY)
  
• Education will suffer due to budget cutbacks
  
• Every wacko with an idea will be able to rally troops and do damage

Overall I just get the sense that we'll be a far more local America than in the past, thanks to the social connections made possible through the internet. What I would love to see from the Obama administration is a great deal more support for the small business and support for re training people to pursue their dreams. Hopefully this will be the start of something big. Or rather the start of many big things. 

Letter of the law vs. intent of the law

My Mom and I used to have many conversations about the difference between how law is interpreted in the UK vs. the US and I thought it would be an interesting topic for discussion. She's a former British citizen (via Jamaica) and has been both a Chartered Accountant and a CPA and has dealt with the difference in a professional capacity. 

I will admit that I'm no in any way conversant with anything other than broad strokes of this so if I'm wrong in any way, please let me know. I'll also do more research on the topic (sigh - this research docket is getting longer). 

One the biggest differences we discussed is the difference between intent and 'the letter'. Meaning that British law tends to be a set of guiding principles that cover not only the specific problem at hand but also the grey area surrounding it. That means that one can be convicted of a crime, even if a loop hole seemingly allowed it because it's the spirit of the law that's the most important. American law – and therefore American contacts etc – is all about the letter of the law. That's why our legislation is so lengthy. Our legal system needs to spell out every specific case where one can go afoul of the law. If it's not in that specific statute, technically no crime has been committed. 

Which system is 'right'? Sometimes I wonder if life would be easier or less costly if we had the former system and not the latter. In theory having everything spells out sounds great because there is little for interpretation. But human nature propensity to bend the truth will always prevail and/or look for loopholes, undermining trust in the system. Poster child for this issue: Enron.

This is on my mind because of all the scandals that have been in the news lately.