Do Economic “Bubbles” Indicate A Drowning Economy?
I do not speak econolingo, but the metaphorical connection seems clear enough. Though investors may seek to get in early on a bubbles bandwagon before it burst, hopefully selling out before the OH NO! event. I believe the phenomenon speaks, or gurgles for itself.
(A bubbles bandwagon?)
Our economy operates on Consensus Realities and attendant Appearance Realities. Money does not actually make money or grow on trees, it shifts around in circulation as a manner of distribution of wealth. Fruit on trees must be picked. The other side of that coin; redistribution of wealth, is endemic as well. These schemes are designed to “make money”, as applied to a population, willing or not, submersed in an economy fundamentally based on opportunism, particularly the stock market realms of the economy.
When I picked fruit, it was all day long up tall ladders, while at the same time someone sold stock they bought at $10 and sold at $20. Nowadays a phone call or button pushed. Merit and worth in the culture seems assigned by assets and income, yet this is all human ideas not necessarily based upon fact of individual worth or character at all.
We treat the criminal buying a new car the same as someone who picked fruit their whole life to afford that car. Inherit a fortune, win a lottery, and you think you are fixed for life. You may be fixed in more ways than one; your heart nd soul may be disconnected from this world you are immersed in.
With our joy in winnings, personal economic goals achieved, is the economy, usually loaded with schemes detached from ground realities, even on the self radar? Though they involve much gaming and a money based identity framing, winning and success are their mind frames, based not on true reality, but consensus and appearance presupposition and opinion.
The have and have not dilemma, provided with sanctioned ways of getting and a plethora of negative framing for the losers and or under-achievers. Right in the wording; the best way to cast a spell over perception.
Bubbles are an indication of the “Ownership Culture” expanding into the population, upping the scale of up and down. We are expected to be invested in stocks, bonds and the like for our future security. Owning is perceived as having. Having, as achieving self fulfillment. We are dependent, or lead to be, on manipulative mechanisms fundamentally based upon an identity of lack, but narrated as goal and planning responsibilities. The American Way perhaps. But it is not all that America is.
The Appearance Reality belief of material fulfillment tends to totally ignore as nonexistent, the choice of human beings who decide not to be invested in a materialism driven consumption paradigm; where earths ecosystems are already reeling from the abuse of so much “success”.
When economic “Bubble” appear, they are not perceived or acknowledged as being bubbles, not at large. Instead they are “The Future”, the way of the new world, and you better get on board or be left behind. Soon it seems everyone is raking in the bonus for investing in the new world order. Why if only I…
By this time critical thinking is so old world, except for some of those really long term investment types who bank on fundamentals. The power of making a profit is seen; folks buying bigger homes and cars, seeking the status of their alleged achievement.
Achievement, that is, based upon a scheme to tax someone. Stock earnings are taxes; they are levied somewhere onto someone to make that “profit” for you. Unlike government taxes however, we do not “get” to vote on private tax schemes called profit. You take a product or service or leave them. Most do not even leave a suggestion box as far as caring what you think.
The banking/debt meltdown was initiated on bubble mentality being exposed. Schemes, as long as they seem legal, remain invisible or are not understood, inflate pocketbooks and egos, not unlike picking the winning horse from lucky intuition and study, or a tip. Now I can take my gass guzzling vacation around the world! YES!!! The proof of achievement is in the profit.
But proof of what?
For most Americans, the last half century was one begun with rising wages, then came the era of debt; credit financing, credit cards and more credit cards. We banked, not necessarily on tangible rising wages this Friday, but leveraged “income” credited to the future. This is a dramatic and fundamental change in economic policy, oddly coinciding with the rise of exporter nations pouring goods into a globalized setting. This helps keep our declining real wages look as if we really are better off.
Real wealth growing is in ways gone for many Americans. Hard work does not necessarily give you more than a bad back and bills unable to be paid. But look! Another credit line! This fundamental shift is base upon the usual opportunistic exploitation. Now other countries become the makers of much of our goods, while we become a kind of service/investor economy. Some still get rich from the use of cheep labor or paying workers enough to hold their effort, while skimming profit as an unseen working class tax. Clean as apple pie. As is usual in human gain; the profiting people tend to minimize the negative use of others energy. They justify and rationalize those “others” place in life instead.
While “They” of “Their country” enters the consumer driven consensus reality, Why I am helping them come out of poverty. Giving them work and a much higher standard of living. But all while American workers, overall, are demoted on the international scene. Companies want wage cuts to compete with the lowly paid international worker. This drives wages down by competition inference on the world market. The once promised health care and retirement are now: ‘Your bankrupt! what happened to my retirement contract?!’
There is a great industry of denial cranking propoganda out regarding Freedom, Tax, Government, Regulation, Free Markets, Capitalism, Socialism, etc. The handiest way to detect who does not base their beliefs on fact or objective context are by detecting who is espousing “faith” and attacking science as if it is just a made up simplistic faith based endeavour of liberals or egg headed elites. Park your Volvo and Latté hear. You non realistic person you.
Some science is faith based, but in general peer review science encourages critical thinking based on provable theory, and acknowledges a fundamental claim; not to a-priori unquestionable knowns, but data that must both fit theory and continue to, or a “higher reason” establishes a new understanding.
Me believing in climate change driven by human influence, does not make it true. The data and knowledge of chemistry must, along with unprecedented double hemispheric meltdowns moving in tandem with changes in earths chemistry directly correlated (albeit with time delay ecosystem absorbtion dampening and other dynamic influences) with human injections into the environment.
But complexity and nuance is the nemesis of science, as corporate invested industries profiteering off of said changes in chemistry can debunk complicated understanding with ease of application emotional mind paint sprayers.
Ah. The simplicity of faith, so easy to steer when critical thinking is unplugged and rationalization inserted as reason.
Gamblers have a history of denying the problem and hoping for their overdue winnings. This is the nature of addiction.
Investment, as in the stock market, is gambling. It also is a pyramid scheme; it takes a mass of buyers somewhere for something, to make the pyramid grow, and especially to make the top higher.
We, or the culture, the society, sanctions some gambling and not others. What the culture allows is usually removed from its negative connotation. Now kinds of cognitive dissonance can be assuaged, especially for some of the religious and others who believe is system “wholes” or the unity of Life and process.
Your investments become your business in a Darwinian winners and losers like contest. But this contest never was truly fair, no matter the parade of abstractions such as success or freedom or responsibility one drags in for gambling to provide a facade of niceness. If not nice, a detached individualism keeps the cash in the mine column. Nicely compartmentalized form whole-istic conceptualizations that respect the inner and inter-relatedness of all things.
The BIG BUBBLE is the bubble of denial regarding both materialism and consumerism at a practically exponential rate on the world stage. The relative elites who play the investment games require in place cognitive dissonance abating outlets; be they philosophical or detached energy such as spectator sports or other means of not paying attention to what is the Whole of Life.
Economic bubbles are indicating that our culture is drowning in its own excesses, and these are spreading throughout the world. The industry of denying the excess and exploitation of environments, while codifying “achievements”, “individual goals” and “success” into narratives detached of social, economic and environmental consequence and accountability.
The bubbles are indicative of cultural denial and obfuscation.
Bubbles are for bursting. And the real life raft left is not materialistic or on any investment portfolios.