A lot of blame is thrown around. I know that a lot of people blame investment bankers for the 2008 housing bust-up. Greedy bankers selling houses and selling mortgages and insuring mortgages and selling the insurance, and selling the insurance of the insurance. I have spoken to enough bankers to know that they blame people for what is currently happening. Stupid people buying houses they couldn’t afford, buying houses in hopes of flipping them to earn a profit, get on “the ladder” become rich overnight. Some boffins like I hold globalization accountable. News organizations talk about “confidence” others say, banks not lending to each other. Democrats blame Republicans, Republicans blame democrats, regulators blame deregulation, laisse faire economists blame regulations.
I blame myself.
I blame myself for putting myself in the situation that I have to give a shit. I could have set up a nice little farm for myself raising chicken, cows and corn, have an equally natural lady and 12 or so kids to help out on the farm and to take care of us in our old age, instead I am living here in a fictional world depending on fictional money indicated by a one dimensional line running across a screen. Its funny how at its most “advanced” life can be condensed to how much the S&P500, Dow Nikkei and FTSE move up and down. All those companies, all the workers all the people involved can be condensed down to an index. And suddenly the people stop moving the index; it is the index that is moving the people.
Sorry Sammy you are being laid off because our stock has gone down. People are uncertain of profitability because the stock market crashed. Half a million people lose the roof over their head because numbers on a screen were a lot less than they were a few months ago. Somehow people have become so dependent on numbers that things like eating, drinking, making love and laughing have become secondary to the weighted moving average of an aggregate of investments. Living has become secondary to the securitization and sale of mortgage guaranteed profits.
To me this is not a problem; to me this is nothing but a cleverly told fable by very very clever men and women. Instead of dragons and hobbits and lightsabers its derivatives and hedge fund managers and financial instruments. I agree, it is real, the emperor has the most magnificent gown on, it changes colour and sparkles with a million jewels, shimmering in a way that only the geniuses on former Wall Street, Canary wharf, and Brussels can understand.
The root of all evil, is the fallacy that evil exists, the root of a stock market crash is the fallacy that the money existed. The root of fallacy is the human mind. Without the human mind, evil and the stock market would not exist and therefore my friend the root of it all…
is you.
