jeffturley

5 Significant Perspectives from Resolve Lending, Inc.
October 24th, 2008 10:57 AM
I'll keep this brief since the overload of financial and political information will drive us all insane. Here are my reactions to these fascinating times with 5 Significant Perspectives from Resolve Lending, Inc. 
# 1.     Remember when President Clinton said to President Bush, "It's the economy, stupid." If there was a phase which needs to be said right now it would be, "It's   about trust, stupid." It's not about the economy it is about the restoration of trust all across the world.

#2.   Our economy is similar to theology; it's built on trust/faith. Trust is our belief because of past experiences. At the core of the bailout it's all about "worldwide trust. " It's us saying to the entire world "you can trust us". Other economies need to trust us for us to survive this crisis. Francis Fukuyama said in his national bestseller Trust, "All successful economic societies are united by trust." And I will add, destroyed by the lack of trust.

#3.   I have done enough marriage counseling in my life to know that once a major grievance has occurred, no 8 carat 4 million dollar diamond (Kobe Bryant) will heal the pain or redeem the trust. Although, I once heard Denzel Washington say "No..money doesn't make me happy," but he followed that up with his Denzel grin. "but it's sure a nice down payment." America has made its down payment but now we have many years of restoration without any promise that the marriage will last.

#4.  Where does the blame lie? Somewhere in the depth of our own "Heart Of Darkness." I don't remember too much of the classic novel by Joseph Conrad and his travels to the depth of Africa but I have come to believe the title says it all. Isn't it strange how one extra car or one extra home could effect lives around the w orld?

#5.  October 8th 2008 was an unprecedented day in financial history around the world. The Federal Reserve picked up the phone and coordinated with 7 different world banks, including China, to cut interest rates (yes China). These are fascinating times which gives me great hope because it's not about "US" anymore - the world is working together. It's about all of us and when someone gives you damaged goods, as we gave Asia (bad loans called derivatives) then we need to restore the relationship and if 700 billion will buy us some time that is what is needed to be done. If you have never fully understood Globalization, you just saw it at work.

Posted by JEFF TURLEY on October 24th, 2008 10:57 AMPost a Comment (0)

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