Seduction, Corruption and Redemption
Finding the path to globalization.
"Lately I've been running on faith. What else can a poor boy do?"
Oscar Wilde once said that skepticism is the beginning of faith. Investors around the world are finding faith as a function of need.
It's easy to be consumed by the shifting social mood as the world turns and Rome burns. Societal acrimony is percolating into the election, geopolitical risks persist and an uneasy feeling abounds that another shoe will soon drop.
We've explored both sides of the market ride as this process of price discovery permeates. The friction between opinions is where true education resides and we must assimilate the spectrum of risk and reward if we're to proactively prepare for the future.
While a multitude of fluid factors will define our forward progress, one dynamic has been a consistent and persistent theme. As global indices swoon, the value of investments decline and standards of living erode, the transference of guilt abounds as people point fingers and place blame.
I recently watched a debate about who is responsible for our current state of hate. Wall Street, Washington, the Middle East and mainstream media were all mentioned as root causes of the financial crisis. I couldn't help sense that the discussion itself was endemic of the mindset that got us into trouble in the first place.
The A.D.D. immediate gratification "zero percent financing" lifestyle that was enjoyed by many and encouraged by most finally came full circle. The unwinding of societal abundance and attendant austerity will come to define this time with the benefit of historical hindsight.
There were certainly predatory lending practices in play from those who abused the system. Those actions were magnified by a grand experiment designed to suspend the business cycle and replace legitimate economic expansion with credit-fueled growth.
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