A friend sent me a blog about the shakedown of the elites. The link is http://www.theatlantic.com/doc/200905/imf-advice/2. According to this author, there will be some human capital paid to bring the “recovery” part of our economy’s natural cycle. In short, some big, powerful people will lose their livelihoods and fortune. For us to see recovery, power and wealth must shift to correct a gross imbalance. For about 20 years great wealth was made in New York through a structure that eventually broke. Wealth, like energy, will now simply move from one state or form to another. I would gander this is a natural and even healthy process. A kind of paradigm shift that ushers in a more modern and useful economy that provides goods and services that better reflect a 21st century earth.
As far as popular demands for more financial regulation, remember that’ll require legislation and then enforcement, which takes lots of taxpayer money. Bureaucracy brings tax hikes, but then again any solution will have costs. I’m not opposed to more regulation but I believe we can provide more efficient bureaucracy at equal or less cost. I think technology can provide us long-term benefits and we’ll begin to see that this century. Washington was designed with the 18th century in mind–when wealthy, white males ruled a small country built more on ideology than international commerce. We must bring our government into the new millenia. If we spend more on regulation, use technology to make it efficient and simple.
Responsible behavior (self-regulation) is no longer a viable option because money is too powerful a temptation for human beings. What an ugly animal we are. As I’ve said before, in the US Money is God and everyone is religious. Seems silly to blame our entire species for the mistakes of a few bankers in New York, but greed is universal. Homo Sapiens consume to extinction.
Which is why I think that the Chinese and others are fooling themselves with their belief that we exist in harmony and balance with nature. Ancient history; primitive thinking. We destroy our own environment in our struggle for mere survival. Currently we are in a global conundrum produced by our inability to accept the dynamics of our planet. A few financiers in New York thought all was well for them to do their risky business as usual. Keep your eyes shut and cling to habits of the past. It’s all about gettin’ paid.
Gee I don’t wanna go there now, for someone could easily argue that life for humans has developed far more than it’s decayed. Overall, we’re in the black and can enjoy the fruits of our success with pride. Sure there will be a human toll to pay as we advance in our history and evolution, but we are forging an existence that is remarkable. To what end though? What is our motive?
Taoism would laugh and say there is none–and that is precisely our motive.
Buddhism would suggest that I cease my craving for motive.
Christianity would threaten me to put my blind faith in a 2000-year-old story about 1 Jewish man.
Islam would demand that I refer only to the Holy Koran for instruction.
Science would ask me to choose between theories that provide solutions based on my initial frame of reference.