Thursday, February 19, 2009

How will the formerly unthinkable happen?

Here is a comment about the extent of the financial tables turning OR more properly called, redistribrution of wealth movement

Several months back I came across some frightening news from the Fed which is just as relevant today. It revealed what a real house of cards we had been living in. Just in the third quarter 2008 alone, U.S. households lost $647 billion in real estate; $922 billion in stocks; $523 billion in mutual funds; $653 billion in life insurance and pension fund reserves; plus $128 billion in private business interests.

Total destruction of household wealth in the third quarter: $2.8 trillion, the worst in recorded history. That's four times more than the government's entire $700 billion bailout package (TARP). Total destruction of household wealth in the last year: $7.2 trillion or over TEN times more than the $700 billion TARP package.


Some of us have been talking about how from Universities to Grade Schools, and almost every government department imaginable, not forgetting the changing perception of BANKS, changes are imperative. ... these are institutions seemingly indestructible and tremendously resistant to constructive change ... we may be seeing what only a poet like D. H. Lawrence could imagine:

When we get out of the glass bottles of our ego
and when we escape like squirrels turning in the
cages of our personality
and get into the forest again,
we shall shiver with cold and fright
but things will happen to us
so that we don't know ourselves.
Cool, unlying life will rush in,
and passion will make our bodies taut with power,
we shall stamp our feet with new power
and old things will fall down
we shall laugh, and institutions will curl up like
burnt paper

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