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

By Richard Black Environment correspondent, BBC News website, Barcelona The seas are one of the ecosystems threatened by human activities 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.

SHLD is a languishing star and needs a good kick up the backside.  No yard sale can cure its ills. It has strong core assets – Lands End, Craftsman Tools and Kenmore Appliances are stalwarts.  The problem is lack of investment in people, property and merchandising.

Go into a Sears store and you will not find anyone to help you and those souls stuck at the till are forced to do nothing but ring up the sale.  No knowledge is being deployed on the floor or off. I tried to find infant clothes for a one year old child while shopping this Christmas.  Other than seasonal garments, I found the organisation of apparel appalling.  It was impossible to find light cotton clothing in an infant size 1.  What I wouldn’t have given for a properly organised display and some help on the floor.  The sales floor was completely empty.

Properly trained and motivated staff on the floor could go a long way to stem the bleeding.  Add a touch of merchandising and a little spit and polish and SHLD will sparkle brightly again.

Europe is hungry, hungry for cold hard cash.  MSFT has just the dope.  No, they haven’t committed a crime.  Is anyone forced to buy MSFT?  Have they hurt the consumer?  The last time I looked, prices for new PC’s had cratered to all time lows.  I walked into PC world to pick up a portable hard drive the other night and there were systems marked down in boxes stacked three deep by the till for £230.

The cash generated by MSFT is being used for Africa.  This charity bandwagon was clearly resented by the snubbed noses of the European Commission who said, ” We have poor fellows too.” Aid not trade has backfired.  Too much aid and not enough trade in Africa and now even the nouveau riche want aid.   

Where are those cigarettes with dollar signs?  Where is John Galt?  Certainly not in the bleeding EC.