What do we really know?
operated in a fairly orderly manner for most of our lifetimes. There is a small group of business leaders in conjunction with government policy makers who have kept the current system in place. Those that have been master of this system have felt in complete control and have reaped vast wealth.
Something changed. I am uncertain when this change happened. This change is a disruption of the normal operating rules. I will elaborate at a future time about what is the cause of these changes and the fallout that is rapidly occurring due to the change.
What we can see as an outward sign of the disruption of the normal flow of things is the lack of a creditable approach to restoring confidence of investors in the value of companies in all sectors of the economic system. Normally, I wouldn’t write about this type of thing in this BLOG, but the impact is so far reaching that I am writing about it everywhere. There are many who have been heralding this change. I have not taken them as seriously as I could have because most of their writing is fear based. I don’t find that useful. I did forget however, that I can gain value from listening to a fearful conversation if I look to the factors that created the fear rather than be caught up in the emotion.
Yesterday as part of the preparation for next week’s radio program on the real truth of the $700B bailout, I was talking with a journalist who was a former Assistant Secretary of Treasury in the Reagan administration. This person is very clear about the factors that are causing the current crisis. One of the things that I took away from the conversation is that the people who created the chaotic system we are trying to change were creators of the system.
As Albert Einstein was to have said, “A problem can’t be solved by the same consciousness that created it”. This situation can’t be solved by those who created it. They are digging deeper and deeper holes that generations to come will be saddled with. The prosperity we have experienced for several generations is crumbling.
What to do? That is a question that is consuming my whole attention. For the walk from here will be much different than the journey so far. I will share with you what I feel are reasonable steps for anyone who chooses to take charge of their situation rather than be at the effect of others choices.
I wish you peace in this time of turmoil.