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Good News Behind Financial Crisis

October 6, 2008

Finances are important, but the nation has forgot about something more important.

facing the past

facing the past

There seems to be no end to the bad news out there. The reality is that the nation and even the world are not out of the woods yet. The economic correction must take place and the reality is that we cannot shortcut the process. Lots of money is being thrown at debt markets in the vain hope of stabilization. The cost of all that money is inflation combined with a loss of monetary value because of the excess credit and cash that is being generated out of thin air by the Federal Reserve Bank. The costs are going to be difficult, but harder for those that have invested and saved wisely, lived within their means and didn’t overborrow. Those reserves are being plundered and will continue to be as long as we let outsiders run our monetary policy. Income on Treasuries, money market and certificates of deposit isn’t what it used to be thanks to the Federal Reserve and low interest rates that banks use as a measure of the value of money.

Our financial institutions have been weakened and in turn, have weakened economies around the world. It will take many years, not a few, to work out the excess that the nation indulged in. That is the truth that no one wants to hear. The housing market that originally started this economic contraction is merely a symptom of economic overexpansion due to overuse of credit that the country can no longer afford. The housing market, once a haven of growth is doomed to contract for years much like the economy and housing market of the Japanese. Unhappily, everyone must bear the cost of each financially driven bubble and this time it nearly put the nation out of business.

small business

small business

What we do have is a world of opportunity. For years, our politicians have given this economy every opportunity to be reduced to rubble through increasing tax regulation for the individual and small business, sending jobs overseas and overpromoting big business at the cost of individual creativity and freedoms that built the nation. Lip service has been given to American civil rights as they are whittled away piece by piece, exchanged for government security. The freedoms that we still have as a people are based on the convention of authority, rather than any level of trust or humanity.

Regardless of the past, the nation is full of people with needs and those needs must be met. We need efficient housing, efficient transportation and decent jobs which need to be created in new ways. The job market must be expanded with non-government jobs for the economy to prosper. Politicians have forgotten this with their desire for complete control over the finances of the American citizen. Instead, they seek to have everyone employed by corporations that directly and efficiently reports earnings so that the tax machine can be supported quickly and efficiently.

Old failed methods combined with control ideology and simultaneous big corporate deregulation are what have brought the nation to its knees because we fooled ourselves into thinking that doing the same old things would work and that somehow, there is never payback for what we do. Greed and corruption were preferable and more advantageous than responsibility and accountability  on any level. The dark underbelly of finance and business will always exist, but a people with respect rise above it. You can’t change the stripes of self-interest. On the same token, when you live by the sword, you die by the sword. The underlying reality is that most of us have lost self-respect. A nation of people without self-respect cannot respect others and so it goes into ultimate oblivion.

The next president, regardless of national debt and politics, still has the ability to inspire and allow those that are inspired and motivated to lead the nation without taxing and policing that motivation to death because he knows that the fate of the nation hangs in the balance. We are in such a time. Therein lies the nation’s true opportunity, a renaissance of new self-respect because we are doing new things in a different way without intentionally harming others as we work mutually for prosperity. This is not a multi-level trickle-down marketing scheme that politicians promote. Ultimately, the choice that the nation has to make is not financial, but philosophical. This choice is not political or patriotic. Both have been and are used as a game for fools: a tool of deceipt. Which leader is able to embody that philosophical choice and shows promise in that direction? Do we want freedom or do we want to die? That choice is the nation’s salvation. Without it, we perish, for the nation has lost its vision and purpose beyond a meal ticket and immediate gratification. ~ E. Manning

Boosting the Economy Best for the Dollar on Digital Economy

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One Comment leave one →
  1. visionary permalink
    October 6, 2008 8:29 pm

    i see your point. if we are able to move forward with a new vision and new efforts at economic activity, even on a small business and personal level, the nation will focus on greater ideas and prosperity. The recession may linger, but will seem shorter as we get to the business at hand. that business is prosperity with heart.

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