“It’s the economy, stupid!”
That line from the 1992 presidential campaign was (according to Wikipedia) coined by a strategist in Bill Clinton’s successful election campaign. Without demeaning our collective intelligence, perhaps we might each have to confess a degree of ignorance if not outright “stupidity” regarding today’s economy. Exploring a remedy drives us to take a deep breath and a deeper dive into certain economic realities. Together, we can acquire better lenses for viewing the landscape and a new filter for evaluating the information we receive. Our aim is to calm anxiety and gain the courage to take positive action. Let’s start with the bad news, stated for maximum shock value. Drumroll, please!
The Bad News:
“The economy as we know it is coming to an end!”
Two key factors will adequately support this conclusion. First, the national debt is so great that we struggle to pay back even the interest and have virtually no hope of paying off the principle. Second, the Federal Reserve policy of flooding the system with digital dollars (backed by no tangible assets) is de-valuing the U.S. currency and will potentially drive the dollar’s buying power toward zero. Leaving the U.S. is no solution because every nation on earth is swimming in the same economic waters. But let’s not plan to jump off a building before checking out the good news.
The Good News:
“The economy as we know it is coming to an end!”
Now the discussion becomes quite interesting, and some explanation is helpful. This economy, like the previous ones, has benefited the rich at the expense of the poor and middle class. As this deeply flawed system ends, something new may arise, which maximizes potential for all. A great wealth transfer is coming, fueled by new technologies and a growing value for collaborative communities which provide opportunities for everyone– apart from political control. That’s the good news.
More Good News:
“Poverty or Wealth is a choice.”
Anyone with a bit of education, gumption and connection, can make the choices that will result in wealth. The rapidly disappearing middle class continues to feel the squeeze, members of this class must now make a choice to join one of the two remaining teams by aligning with either the poor or the wealthy. As another wealth transfer transpires, I say we all choose wealth!
Years ago, the term “wealth transfer” caught my attention through a Warren Buffet statement. Deregulation of large industries was in vogue, as the federal government began to break up monopolies and create opportunities for smaller players to get a slice of the pie. The banking, airline, telephone industries were among the earliest targets. But I was particularly intrigued when electric and gas utilities were deregulated, and new retail gas and electric companies were being formed.
When Warren Buffet called the deregulation of this industry the “greatest wealth transfer” to occur in his lifetime, I took note and joined a company to sell natural gas and electricity to residential customers. While many saved a few bucks by lowering their energy bills, I wanted to learn about the industry, create an additional stream of income and position myself in the flow of the transfer of wealth as a business owner. I learned that wealth, like physical matter, can never be destroyed, it just morphs into a different form. So just as water (H2O) can be a solid, liquid or vapor, wealth, transforms from one asset class to another, and transfers from one owner’s into the account to another. I aimed be on the receiving end of the transfer.
The Really Good News:
“Wealth has unlimited capacity!”
Google the question, “Can everyone in the world become rich?” and you’ll find an answer that is basically “no”. By definition rich must compare one entity with other. A multi-millionaire is rich compared with many, but not rich compared with a billionaire in the newly emerging class of trillionaires. But being wealthy is not the same as being rich. A quote from investedwallet.com explains the difference: “While not all rich people are wealthy; all wealthy people are rich. The difference is that wealthy people are able to control and manage their money in order to create a sustainable lifestyle. They can enjoy a rich life without a time limit.” My question: Could we create a new economy in which everyone has an opportunity to create for themselves a sustainable, personal lifestyle and legacy without time limit? Call me Polyanna, but I believe we can.
Use Your Imagination
A few years ago, I came across an intriguing YouTube video (that has since been removed). It pictured a utopian world in which all of the 5 – 6 billion people on the planet could become billionaires through a unique ecosystem based upon three practices:
(1) adopting a common digital currency which was immune to political control,
(2) utilizing emerging technologies to created sustainable, affordable (even free) energy and
(3) promoting and rewarding entrepreneurs who continually develop solutions for upgrading the quality life on planet earth.
Imagine a social and economic ecosystem founded on these principles, grounded in trust and collaboration, created by the people, for the people and bringing about global abundance. My imagination is fueled by the refreshingly optimistic discussions from both spiritual teachers and hard-core scientists who have come together to grapple with the question: “Is the universe kind?” and many answer with a resounding “YES!” While the current global economy is far from kind, I found potential remedies in thinkers like Jay Shetty (Think Like a Monk) or Bruce Lipton (Biology of Belief) or even Jesus Christ of scripture. These and other writings strengthen my belief that individuals in community will create kindness in our world economy and move to help everyone become wealthy.
If the goal is to be rich, then someone must be poor. But when the goal is wealth, poverty can be eliminated. The best of the good news: “It IS the economy and WE ARE NOT stupid!”
Connect with Gail on her website or read more from her on Plaid.
