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Who Do You Trust?

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I just finished watching the movie drama, Too Big Too Fail. It does a fair job of representing the timeline of events leading up to, and during the crash of 2008. Mistakes were made. The primary one with the bailout was the failure of Hank Paulson to put controls on the banks as a condition of receiving bailout money. 

Paulson's reasoning was that they wouldn't take the bailout money if he did. There should have been limits on how that money could be spent. He was wrong. It did little to solve the problems, and created lots of new ones. The banks actually used this money to buy more banks. Thus, the government by bailing them out, actually helped them continue their gaming of the system. This is a complex problem with tons of little problems built into one colossal problem. 

Fast forward to today. Another crisis looms, and it ain't pretty. It looks to me that we're back to the same scenario where the banks win and everyone else loses. IF we bail them out again. They have not changed their ways. In fact, we may be in worse shape now than in 08. We are in a deep hole that we cannot spend our way out of.

I personally doubt that we'll get any real solutions with the systems we have in place. Only a true awakening, will create solutions, and I don't see that happening. The people are very slow to wake up to these misdeeds, it is a slow process, and no one seems to see the urgency of our situation. By "our", I mean the entire global economic system. Oh, they see the problems, they just lack the insight and motivation to actually change, or they see ways to take advantage of the situation, and they do.

Just like the assumption that "real estate prices would always go up" lead to the crisis in the first place. It was a false assumption, a "flaw" as Alan Greenspan put it in his testimony before Congress...

What other assumptions (flaws) are driving us over the edge? Plenty of them. Wrong thinking is pervasive in the climate of now. Remember "Any yes/no question has a 50% chance of being 100% wrong". Unfortunately, we are slow to admit being "wrong", and choose to either cover up our bad decisions, or just flat out lie, and deny. That's where we are today.

So how do we change? As we gaze into the abyss, the black hole of uncontrolled change, we often can change, but only when the precipice we're standing upon breaks, and sends us plummeting into "bad things". We will cling to our positions, our decisions, even when dead wrong.

Real change that creates new world views is elusive, and we often only react to current events. Transformation and transcendence is what we need, but how to cast out the demons in men's hearts that hold on with such reticence. Ideas centuries old, systems that serve the few, and leave the many wanting. 

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This is not a democracy we live in, we're way too stupid to even be a democracy. A democracy requires thinking people at the helm, who are willing to sacrifice their own self interest for the greater good, and continuance, growth. 

There comes a time when the old ways must be abandoned in order to save us all. I believe we need more points of view, instead of fewer. Yet, our system continues to move toward less and less control from the bottom up. Trickle down was a colossal failure, and a genuine lie to boot.

As a friend of mine once said, "it's easy to see when it's over, you can see how the damage was done". It is suddenly crystal clear how we went wrong. Truth is undeniable, once it reveals itself to all through some event. It's the futurists, and forward thinkers we should be listening to, and encouraging, instead we cling to old ways that no longer work.

It should be clear that we need this new "world view" to everyone. Very few people I know are happy with the current state of affairs. Even the millionaires are worried about their money. Their fear is that their money will lose value, or they won't make as much. They want the interest rate to go up, so they can mop up, because they are holding onto huge amounts of capital. They sit like vultures waiting for the bond market to blow up.

This attitude of making money from money is pervasive, and one of the problems that has lead us to today. Money or the love of it, is at the root of it all. How much do they want? MORE. More than anyone else at least.

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So here we sit, last day of July 2012,  the economic stimulus is running out. We've bailed out the banks, and they did virtually nothing to restore trust. One thing that was clear from this movie is that lack of trust, or waning trust, was what lit the fuse. 

Once trust was lost, a tumbling down occurred. A run on the banks took place. People stopped investing in the future and pulled back on spending, borrowing, and investing in general.

Everybody lost, but especially the American people. They got handed the bill, and though it won't come due, even in most of our lifetimes, there will be a price to pay to us all. 

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I blog and comment about; art, photography, and politics in hope of building a better world. One in which I can live and work, and be productive. One that my children and grandchildren can survive and thrive in. My life's work is in photography (more...)
 

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