In the middle of this battle for financial confidence, all hands are on deck fighting to preserve capital. Now that the battle is being waged, rather than spending all our capital trying to eke out a return, it may just be time to dream.
What kind of a world do we want to live in and what will it take to make it happen? Beyond the mark-downs, beyond the lay-offs, beyond the bursting of this over leveraged bubble, how do we really want to live?
On the BBC web-site today came the following announcement:
Mammals facing extinction threat
At least 25% of the world’s mammal species are at risk of extinction, according to the first assessment of their status for a decade.
Whilst we are all impacted by the events taking place around the globe in the financial markets, we could be in an even worse position. Do we want to create real lasting wealth or do we want to create ilth?
Rather than strangling business with more regulation and taxation, now is the time to increase rewards to those who create real, lasting value. Which ever candidate wins the White House, this should be the real focus of the platform – wealth and value creation – in people, in education, in health, in the environment, in art, and in science. Rather than creating hostile forces that punish companies for the business they are in, create incentives for transforming each and every business. Rather than relying on government to clean up every mess, let the private sector take the risk and reap the reward.
The deal between WB and Wells should be allowed to fly and it should be allowed to take place at speed. Dithering only reduces the value of both institutions. Together, they will be able to set an example for others to follow.
In fact, this may be the beginning of new co-operation around the globe. It is clear more than ever before that we are all interconnected. If we work together, there will be no end to what we can achieve. Forget the talk about the coming recession. This is the time to sow the seeds of a new beginning. Americans cannot live in a world without hope. They don’t need more talk about reality which is staring them clearly in the face.
As I look out my window, the mountain beckons from across the lake. A mist is rising to meet the clear blue holes poking through the clouds. Sheep are grazing below in a green field peacefully. The oak tree stands tall beside the water with its limbs seeking to touch the sky. Contrary to all the evidence in our financial markets, the sky is not falling. The earth is full of God’s glory. Perhaps it’s time we sat back and took stock of the vast wealth that resides in our backyards. Every journey starts with a single step. Take off the black hat of doom and breath the air while you still can.
This is not 1929 and we will not be down for long. We have a golden opportunity to dream a new dream and each and every person on this planet is part of the story. Let America start the ball rolling. And when we dream, let us follow through and help everyone we meet along the way realise their dreams too.