Freedom meets greedy the invisible hand steals your wallet
When Osama bin Laden attacked the World Trade Center the atrocity was not only as a flagrant attack to United States but an attack to our iconic financial freedom. The message of the leadership was keep shopping while we organized the war on terror. In retrospective today I sadly believe that the attack on the institutions and the culture was a great success for the terror radical extremist. Shopping without regulation plus financing the wrong war placed the national deficit at levels that it is hard to spell. The shopping frenzy pushed business ethics out the window. I believe that the economic theories that are the basis of our system offered conservative and liberal choices but, both are well funded. Adam Smith and John M Keynes did not question the integrity of the economic players. Unfortunately “the invisible hand” that will regulate the economy is so invisible that was diluted up to the point that the system lacks in accountability. In the other end of the economic theory “in the long term we will all be dead” so in the mean time we ignore the greed of Wall Street. The information highway brought along with globalization a deeper understanding of global catastrophes that we can conveniently blame in global warming. I believe that Global warming is another fancy term to call to reflect on irresponsible actions with a diluted guilt. Throughout, history empires did not collapsed for economic crises or natural disasters. Empires crashed do to moral debacles. The G8 along with the European Union and US are working towards the stabilization of today crisis throwing money at it. Money along will not stabilize the markets. The orgy of corrupted loans and CEO’s making millions to lead their companies to bankruptcy broke the trust of the average people. I believe that we are coming out of 7 years of monetary illusion. Sure liquidity will help but liquidity along will not bring the markets back. I believe that to resolve the crisis we should stop and look around. Look at the effect of having AIDS and other pandemic diseases. Look at the pollution in the world, look at melting glaciers. Listen to the hurricane landing. The planet is asking for help and we need to come out of the comfort of blaming global worming or foundation of economic theories. The new rules need to come as consensus of the nations no the G8 or the few rich or the emerging markets. The planet is crying for a set of simple rules that will encourage ethical transactions. The healthy ambition turned into unscrupulous behavior and the invisible hand into a fog wall hiding accountability. The irony is that the proponents of no government interventions are the ones nationalizing the financial systems of the world. The financial leaders of the world attempt to restore the monetary illusion that guided us for the last 7 years is coming short. And I believe that that is what happened when freedom meets greed and the invisible hand is steals your wallet.