InSpiritry

Cash for trash!

Paul Krugman discussing the financial bailout, New York Times, Sept. 22.

Ahh, memories of 2008…

First came the slump in the housing market and growing mortgage defaults, then we found out about those infamous credit default swaps which were followed by the collapse of financial institutions and insurance companies (and the stock market along with them), then the call for a bailout of auto manufacturers and later other smaller companies and most recently the Bernie Madoff investment debacle. The economic house of cards that American finance built over the past two decades is in a heap on the floor, and we, Americans, are asking ourselves disturbing questions:

• How did financial institutions allow ridiculous leverage schemes?
• How did the SEC not do its job in regulating the industry?
• How did so many people get such bad mortgages?
• Why would CEOs run companies into the ground?
• What about my 401(k)?
• How did Bernie Madoff fool virtually everyone?
• When will we ever get out of this mess?

These are all important questions–questions whose answers will hopefully insure we don’t repeat this embarrassing episode any time soon. Time will tell, of course. Still, it seems to me the most important question is the one no one is asking:

• How did I, as an everyday American, somehow contribute to the economic collapse?

There has been much talk about Wall Street vs. Main Street with little talk about individual Americans. In fact, when it comes to personal finance, most of us consider ourselves wise and moral enough to avoid scandal. We are fairly sure we would never run a Ponzi scheme or take out loans that were impossible to repay. It is less clear that we would resist the temptation to take a higher salary than we deserve, use a tax loophole, overspend on credit or look for an easy way to make a buck.

If you recognize yourself, you’ll see that we’re all in on this one! Our American financial disaster is a cultural problem, and there are big and  little ways that each of us has “bought into” that culture. Think about it! For years, we have imagined ourselves savvy stock traders, chosing short term gains instead of long term investments. In our businesses, we have left ethics to religious contexts and opted to follow the adage, “business is business.” Addicted to retail, we have forgotten the difference between want and need and run up huge credit card bills. In our communities, we have gated our share of the pie and tried to not to notice that someone else got less than theirs. Mostly, we have just looked out for ourselves.

When I think about all that has happened in the past year and all that is still right with the world, I can’t help but believe that Greater Good Thinking could be the best antidote to most of what’s wrong. Greater Good Thinking? you may ask. Yes, Greater Good Thinking — that core value of my InSpiritry work. When we use Greater Good Thinking, we consider the Big Picture. We see beyond self-interest to take a global God’s Eye View. We remember that it’s not just about us. We consider the well-being of all those affected, not just a chosen few.  We take a long-range approach and consider unintended consequences. Greater Good Thinking also means that we listen to the inner voice that leads us to do the right thing, even when it’s not really best for us, even when no one is looking.

For those brave enough to consider their personal culture as they make their New Year’s resolutions, here’s a Greater Good Thinking checklist for 2009:

• In your personal life and financial life, are you caught up in short-sighted impulse decisions or do you try to see the “big picture“? 
• Within your family and among your friends, do you always have to get your way or do you make choices that affirm strong, lasting relationships?
• When you consider your role in the world, is it close-minded or open-hearted? 
• In your place of worship, is religion about feeling “good” about yourself or are you working toward a shared dream of blessing the world?
• At work, is the business model ”making the most money for the least work” or are all the shareholders (customers, employees, managers, executives, investors) beneficiaries of success?
• In your community, do you support leaders who offer short term fixes or long range solutions?
• Is your vision of the future based on personal wealth or do you imagine a better world for everyone?

2008 is over (and good riddance!), but if 2009 is going to be any better than last year, each of us will need to take stock of how we are living our lives. When you rethink your own life, consider Greater Good Thinking — it might be just what we all need!

Even in Hard Economic Times,

You Can Be a Blessing!

This entry was posted on Friday, January 2nd, 2009 at 3:25 pm and is filed under America, Anne McCrady, Economy, Events & News, Greater Good, InSpiration, InSpiritry. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.