Just 11 months ago Bermudians were asked to consider whether our leadership should be taking account of the bigger picture.
“How do we ensure that Bermudian cost of living does not spiral out of control as the growing energy crisis impacts various staples of the Bermudian economy? Is this even on the books and do our politicians even have the capacity to understand the bigger picture?”
Concern was raised for the rising costs of food and oil and their impacts on Bermudian society. This came nearly a year before the food crisis we’re now witnessing and mark of $120 oil which we’ve just surpassed. This let alone the impacts of the Subprime Mortgage Crisis and the questions of whether or not the US is now in or approaching a recession (the distinction of which depends on whether you accept the notion that the primary measure of inflation should or shouldn’t include food and energy prices).
For those of you sidelined by the subprime crisis and the high price of oil, take a moment to recognize that they didn’t just come out of nowhere. Indeed the fallout of subprime a topic of a post on this blog some 10 months ago, as was the topic of rising oil prices some 9 months ago. Both events were foreseeable if you opened your eyes, just as others would be if we all did the same, especially with respect to Bermuda’s future.
So, nearly a year later, here we are once again questioning the focus our leaders place on both the micro and macro factors that will have impact on Bermudian society. One the micro scale, perhaps we should be questioning the impact of too much growth too soon when we have yet to reign in the troubles of our infrastructure? On the macro, perhaps we should once again consider the impacts that the larger global economy will have on our little island. Hopefully then, once we’ve opened our eyes, we can begin striving towards true sustainability.