Needless to say, I have sunken quite a few ships of hope, dragged the dreamers from their clouds and slapped them awake. Maybe, I have made a few people cry. But, I have to admit that I am not as glim as my posts are.
The fact is we have screwed up. What’s done is done, and before we can look to correct our mistakes and avoid future recurrence, acceptance is required. Acceptance with complete understanding of the causal relationship of our actions leading to this mess that has buried us so deep that we can hardly breathe. Accept it and we can move on.
The fact is we have screwed up. What’s done is done, and before we can look to correct our mistakes and avoid future recurrence, acceptance is required. Acceptance with complete understanding of the causal relationship of our actions leading to this mess that has buried us so deep that we can hardly breathe. Accept it and we can move on.
Now, there is something fundamentally wrong with the capitalist system that we can no longer ignore. The financial markets' genius designed mortgage-backed securities that were too complex even for their creators to fully understand. They borrowed excessively in an effort to multiply the returns on their market bets, pretending that the risks inherent in that leverage didn't apply to them. And they paid themselves outrageous fees and bonuses and believed they were worth every penny.
Wall Street, at best, is run by criminals, blood-suckers, liars and gamblers. You have seen it before - Enron, WorldCom, Tyco and Long-Term Capital Management to name a few. Why do we keep coming back? Because in a capitalist society, equities remain the easiest way for most people to make a bet on economic growth. People are not just stupid, they are lazy, ignorant and greedy.
Real change cannot occur without a change in mentality, a new ideology, a redefinition of the common good and a renewed respect for all things. Anything else is just an excuse to make the same mistakes all over again. Now ask yourself what are the primary causes for the crises we are facing.
Do you want an answer? Look in the mirror.
It is as if we have forgotten that money was not created to measure us but to facilitate and promote ease of trade and cooperation. If you at least understand this point, maybe greed’s leash on us will weaken and bring back hard work, honest living and respect for oneself and others.
Years and years and evolution and where have we ended up? Let’s face it. It is not flaws of the systems and it is definitely not bad luck or timing. In an ideal scenerio, Bank nationalization will be the best option to stimulate spending. But considering that we are led by what Louis Lerman calls "prostitutes", giving the government more power will not stimulate spending. Of course bailouts are even more stupid as they are just burning money trying to save doomed companies. Restructuring the accounting regulations so that the amount of bad debts can actually be calculated, but I suspect that the number will bankrupt amajority of the financial institutions. So is it better to leave the bad debts undisclosed? In other to avoid the immediate meltdown of all related industries, that is all we can do.
There is a reason why even though I do not approve of teaching people how to make money, I consistently acknowledge and share opportunities for profit. I have a dream. I dream through logical reasoning and active knowledge sharing, we can think critically, accept criticisms and progress as a group.
But these are not the answers you want, is it? You want a quick fix, someone or something that can tell you it will all be alright and take responsibility for making life better for you. These are the people who made the rules, the ones that has pocketed most of the riches and found ways to get away with it. Rather than rely on others, why not rely on yourself?
In every crisis, there are opportunities. Every great company or leader has emerged during difficult times. Think about what you want to do with your money, which product are you most informed and confident of, and think about the future instead of the present. Here are a few ideas to help you get started:
Do you want an answer? Look in the mirror.
It is as if we have forgotten that money was not created to measure us but to facilitate and promote ease of trade and cooperation. If you at least understand this point, maybe greed’s leash on us will weaken and bring back hard work, honest living and respect for oneself and others.
Years and years and evolution and where have we ended up? Let’s face it. It is not flaws of the systems and it is definitely not bad luck or timing. In an ideal scenerio, Bank nationalization will be the best option to stimulate spending. But considering that we are led by what Louis Lerman calls "prostitutes", giving the government more power will not stimulate spending. Of course bailouts are even more stupid as they are just burning money trying to save doomed companies. Restructuring the accounting regulations so that the amount of bad debts can actually be calculated, but I suspect that the number will bankrupt amajority of the financial institutions. So is it better to leave the bad debts undisclosed? In other to avoid the immediate meltdown of all related industries, that is all we can do.
There is a reason why even though I do not approve of teaching people how to make money, I consistently acknowledge and share opportunities for profit. I have a dream. I dream through logical reasoning and active knowledge sharing, we can think critically, accept criticisms and progress as a group.
But these are not the answers you want, is it? You want a quick fix, someone or something that can tell you it will all be alright and take responsibility for making life better for you. These are the people who made the rules, the ones that has pocketed most of the riches and found ways to get away with it. Rather than rely on others, why not rely on yourself?
In every crisis, there are opportunities. Every great company or leader has emerged during difficult times. Think about what you want to do with your money, which product are you most informed and confident of, and think about the future instead of the present. Here are a few ideas to help you get started:
- Energy - G7 is no more. G20 now includes developing countries such as China, India and Mexico. Energy is essential to country development. Alternatives to oil will be more and more attractive especially when oil price continues to grow.
- Technology - Whether it is telecommunications, computers or green concepts, there are more and more demand for innovations and technological breakthrough to cut costs as well as maintain an environment code of ethics.
- Real estate - Real estates worldwide has taken a hit dropping anywhere from 15% to 90% partly due to the bubble created in past years and the recent credit crunch. There are plenty of good deals around, not just for residentials but industrial and commercial rental properties which generate income/cash flow. Cash flow is crucial for securing bank loans and leverage.
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