Just when you think you've seen it all. . . along comes a recession and all the standards and assumptions you've lived by and your whole view of how the world works are suddenly overturned. I never thought I would see the US government taking over multi-billion dollar corporations and banks without so much as a murmur from the American people. And not just one, mind you, but dozens!
Private ownership was such a fundamental tenant of America for me that I'm rocked to the soles of my feet. Yes, I know they say it's temporary. . . but I'm putting that in the same category as a "temporary tax increase." Once it's in place. . .
I am trying, in my usual way, to gain some perspective on what's happening, and it came to me the other day that they called the 80's the Decade of Greed. Remember the famous/infamous Michael Douglas film from the 80's, called "Wall Street?" In it Douglas delivered several iconic speeches that have been quoted down through the years. "Greed is good," was the signature line from his character and from the movie. Never mind that the moral of the movie was basically the opposite, that greed destroys and corrupts. The line that has been remembered is "GREED IS GOOD."
My guess? We have a whole generation of Wall Street movers and shakers who grew up on that movie and repeated that line in their heads again and again. Think about it: the people running the financial world now were in college and newly out in the financial world in the 80's. . . young, hungry, and looking for a rudder to steer by. Michael Douglas gave them one. Greed is Good. He was the PT Barnum of the day, declaring that there was a sucker born every minute
Think that's giving the media-- movies in particular-- too much credit?
How much is the media stirring the economic pot now, including people's fears? Just look back. How much have they driven America's need to earn, to acquire, to grab?
In droves, ambitious young Wall Streeters bought into the lure of money and the specter of power, the irresistible feel of being "inside" the decisions that made billions and--unseen and unacknowledged-- controlled the lives of millions. And they sold it to the rest of us-- we people who were "born every minute." The only sensible way to invest in the future was to buy stock. . . create a 401K. . . put your retirement planning in their hands. . . since, over time, "the market" outperforms every other investment vehicle.
I'd like to complain and blame and throw a tantrum, but I can't. My feeling is that hundreds of thousands of brokers and financial advisors bought into the same ideals as we born-a-minute folks. They're as dumfounded by this meltdown as we are.
But there are people at the hub of the wheel who knew better and who stole others' futures and dreams with both hands, while never suffering a sleepless night. The Bernie Madoff's (may he get what's coming to him, ptew!) of the world. . . big and small. . .their selfishness and greed has brought us face to face with some pretty unpleasant realities.
Back to the silver linings.
Being the optimist I am, I'm also seeing lots of positive in this lousy situation. For the first time in a very long time, it's all right to say something is too expensive or that something is not in the budget. It's fine to clip coupons and buy on sale and resole those comfy old shoes. And there are even commercials on television suggesting that we rethink "bling" and "strength" and "quality time." Even among the panic, there's a feeling of relief that comes from a relaxation of the stress of pretense. The strain of living beyond your means takes a real toll over time, on individuals as well as the overall economy.
"Cutting back" has become not only acceptable, but lauded. The old "cheap" has become the new smart. Saving is--for the moment, anyhow-- as important as spending. And time with the family, simple joys, and basic values are standing strong in the ashes of busy-ness and stress and the pressure to be or at least seem successful.
So, maybe all of this economic meltdown is necessary. The old has to end in order for something new (and hopefully better) to begin.
Lest you get the notion that I am somehow immune to the pain: my once healthy retirement account has taken horrendous hits and I will probably be writing steamy romance into my 90's. . . by then it will be geezer-lit! Book sales and income are down across the board for publishing and for writers. I've heard rumors from reputable agents that in new offers, advances are being halved. [My guess is that anyone who still has $$$$ should buy Amazon and Sony stock. . . because this meltdown may push publishers to fast-track their electronic publishing programs as a cost-saving measure. Bringing about an entirely new publishing paradigm!]
But I'm still seeing silver here, folks. I'm seeing the chance to pare away artificial expectations and decide for ourselves, fresh, what we want to do and be. Maybe it's time to quit worrying about "success" and start thinking about more lasting values and pleasures and contributions. I'm seeing the chance for many of us to declare our independence from Madison Avenue and the dream-salesmen and idea mongers. Maybe it's time to open ourselves to new definitions of "the good life". . . ones that put the emphasis on the "good" part.
What about you? What do you see up ahead in these scary economic times?
Are you learning lessons, changing your ways? Have you reviewed or refined your expectations for life or career? What's YOUR silver lining?
