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the "Occupy Wall Street symptom"

the "Occupy Wall Street symptom"

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Published by mjlucas
this is about the GFC,the "Wall Street occupy symptom" and the solution to the whole affair
this is about the GFC,the "Wall Street occupy symptom" and the solution to the whole affair

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Published by: mjlucas on Oct 22, 2011
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01/17/2014

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 THE “OCCUPY WALL STREET “ SYNDROME, THE GLOBAL FINANCIAL CRISIS,ITS ROOT CAUSE, AND HOW TO GET OUT OF THIS MESS.As we all know the financial crisis was largely triggered by banks lending money to peoplewho could not afford to repay these loans and subsequently defaulted on their loans. That `snothing new, but the scale of this happening was unprecedented and led to severeeconomical chain reactions that forced the governments to bail out private banks and businesses on a scale unheard of before. If you are a banker you will take some calculatedrisks with your loans, but not on the level that occurred then and there. So what happened ?The mad dog of corporate greed must have gotten off the chain.The prevailing motive of the times we are living in is greed; for money or power or both, inthis case money. Greed is basically severe mental pollution and the root cause of most of the man made suffering at all times, including the GFC .So why is greed so destructive and what can we do about it ? To answer this we shouldhave a look at nature and its laws .By nature we are group animals and the survival chances for an individual on their owntoday or 10000 years ago are not very good , because we depend on the group for everything we need , food, shelter, clothing, medicine, work, etc .But you can only function well in a group if you have mainly goodwill or dynamicinteraction, that is the consideration of others is a major factor in your dealings with others.As long as you have this two way exchange without one side getting the short end of thestick there will be few if any problems.Because dynamic interaction or goodwill being the basic requirement for the survival of thegroup and with that the species, it`s also the source of our happiness, and not wealth and power as we are led to believe. Just think back in your own life , when did you have thehappiest time of your life : socialising with a group of nice people or when you had a lot of money or power ? Nature made us that way to guaranty the continuation of the species, wehave no say in our basic layout.However we can choose to go against the grain with learned behaviour patterns or mentalstates like greed, envy, anger, hatred or fear . All of those are destructive because theyexclude consideration of others and with that prevent dynamic interaction. All of themstand at the beginning of very destructive chain reactions but are only learned behaviour.The reason for every conflict at any time was greed for power by some body. Have a look at the major world events of the last 15 years : greed for power by somebody is behindeveryone of them.So what can we do about it ?Remember smoking? 20 years ago everybody smoked. Educating people to the fact thatsmoking was destructive got the ball rolling. If you light up today, you are a pariah.A combination of education and legislation has lead to a strong reduction in smoking, butthe strongest weapon used is collective thinking. It`s just not cool to do so. And because the
 
worst thing you can do to a human being short of physical damage is expulsion from thegroup, collective thinking works. ( because we are group animals )So the first giant step is to declare greed for power or money for what it is : THE WORSTKIND OF MENTAL POLLUTION AND DANGEROUS AND DESTRUCTIVEMENTAL ILLNESS OF ALL TIMES, and the root cause of all manmade suffering. And people affected by it should be in a mental asylum, not at the helm of governments or largecorporations. Imagine , how many feathers you will ruffle with this !!!But a long journey starts with one little step, and unless or until we take this one, there will be no future worth wile contemplating. The global financial crisis is only the tip of theiceberg but a very good and graphic symptom of a terminal disease.However since greed is only learned behaviour and an acquired mental state and is notgenetically programmed, we can quite easily take the road we took with tobacco. Wouldn`tthat make a difference !So where do we start?There is already a ground swell in the streets and a recognition that greed is the problem,hence the “Occupy Wall Street “movement but so far it`s more an emotional affair. So for the not so altruistic let`s just get the calculator out and let`s have a look at the example of the deep horizon disaster : they had a problem with their blow out preventer but didn`t shutdown the well to fix it but kept going. It seemed they made the wrong decision for financialreasons. The cost of the resulting disaster is unfathomable. The large scale environmentalimpact was only the tip of the iceberg. How many lawsuits are still in the pipeline and whatimpact does all this have on share holders like pension funds or small time investors letalone banks etc. How many lives will be eventually negatively impacted or ruined by this ?And who will have to pick up the tab eventually ? THE TAX PAYER AT LARGE sameas for the financial crisis. So if you get your calculator going you`ll find that the greed thatcaused all of this is no longer affordable. The same applies to the GFC, on an even larger scale.That will be the first step !!!!So where do we go from here? Nationalise banks and corporations? Not a good idea, because all it does drive the problems underground. Communism and socialism are goodsystems if you are very poor, lazy or stupid, otherwise they don`t do the job.But to better understand where we are at and where we came from lets just have a brief look at the last 250 years of the history of the west:The 18
th
century brought us the industrial revolution that in turn destroyed the socialstructure of the day, the 3 generation family that amongst other things provided all thesocial security needed by the family. Because people moved to the city to get paid jobs, andwere only living in the 2 generation family they became very vulnerable to loss of income by the breadwinner as the case might be. In the absence of any sort of social security thislead to considerable misery for lots of people. Furthermore the industrialization was one of the main reasons for WW I and the subsequent abolition of the feudal power structure inmany places in Europe. The consequential big depression of the 30` was a major factor for a basically proletarian power structure in some places as well as WW II . And only sincethe 60` we are seeing a thriving consumer society in most countries in western Europe thatcreates wealth and personal freedoms for most people on a previously unheard of scale.
 
 It took about 200 years and the blood sweat and tears of millions of people to get to this point of evolution of western society. A lot of this suffering was absolutely unnecessary because it was caused by greed for money and power.The 2
nd
and 3
rd
world are going through the same birthing pains today and they haven`tlearned a thing from our mistakes. If they stay on this course they will suffer the same fateand pay for their ignorance with the blood of countless millions.But we in the west should learn from it now by appreciating how far we have come andmodifying our system and not throwing out the kid with the bath water.Capitalism itself is useful to provide a consumer society that provides widespread wealthand personal freedoms . However , it should come with a social conscience. That means it`sfine to make money as long as the greed factor is kept under control. The top priority is jobsecurity and creation of new jobs as necessary, not profits. Some regulation and stipulationwill go along way to facilitate that. A company has to be economically viable, but after thatits job security. The most important piece in a consumer society is the consumer, with outhim the system grinds to a halt. But you can only consume if you have money that is youhave a job. It`s that simple.If you can produce a handsome profit after that, that`s fine. But when things get tough it pays to put people on shorter working hours instead of sacking them, because at least theystill have money to pay their bills and don`t wind up on welfare. Executive salaries andremunerations as well as fringe benefits should be kept to a reasonable level or regulated.As far as the banks are concerned some regulation is definitely needed. Executives salariesshould be capped at a reasonable level, and no bonuses or golden parachutes. The ship goesdown, you go with it. After all, it`s not their money they are playing with. If you nationalisethe banks, everything disappears from view but the problems are not tackled with that.Have you ever tried to hold a faceless bureaucrat to account?So the way to get ahead is a to change the way of thinking from purely profit orientated tosustainability by taking that mad dog of untethered greed and putting it on a short leach.Some regulation and legislation are necessary for this.(Don`t get this wrong : you can still make money, you can still be rich. There will always be rich and poor. Just have a little bit of consideration for others when you make your money, and avoid stepping on them on your way up. )A slight change of the scale of values from learned “greed is good “ to consideration for others or goodwill and with that sustainability will go along way to solve our current problems. Education , some legislation and collective thinking will help to reduce the problem. By the way, we will never totally eradicate negative and destructive states of mind like greed because they are part of the engine of evolution. But we can certainly avoidthe extremes of them like we are seeing them today. And that’s globally the biggestchallenge for mankind today, because if we fail, our lives as we know them might justevaporate in front of our eyes.

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