The Winds Of Change Have Arrived. The Sovereign Have Much Unfinished Business.
In this interview Spitzer utters the exact words we have written on here time and again. Pushing paper is not a source of wealth creation. That the paper pushers have convinced society that they deserve salaries fit for kings is one of the greatest lies of our generation. That the majority of economists were enthralled by the environment we are leaving behind shows how much of economics appears to be a popularity contest instead of a science. Private equity, hedge funds, investment banks, Wall Street - all of them represent a commodity easily replaced by a system substantially superior as we have outlined. One that democratizes access to capital. You remember that word? Democracy.
As we have written, Wall Street could very well never see the glory days of the late 1990s to 2007 ever again. Ever. That would be a very good thing for everyone. That includes those working in financial markets.
Government needs to quit trying to save a system that has failed. The system is failing because of its inability to serve everyone in society. We need a new financial system for the betterment of all. This is one of the fundamental causes of today's economic environment. The answers are so obvious it is blinding. But, our government only responds with transformational change when there is tremendous crisis. Primarily because only a tremendous crisis mobilizes the sovereign into action. Just as Wall Street is not the source of society's wealth, politicians are not the source of positive and lasting change in society.
Do not be deterred by those with the microphone attempting to paint the growing public responses to this crisis as that of a mob, that is simply a ruse by those fearful of change. It is a view held by those trying to save a system that is bankrupt. As Thoreau's timeless Civil Disobedience told us, these minions have served the master well.
The mobilization of the sovereign against corruption, cronyism, inequality and the status quo is the fundamental building block of democracy. The demands for change are seeds of democracy taking root again in America. They are winds of transformational change. A sign that democracy is alive and well. It will not be Wall Street or government that leads us out of this environment. Nor will it be the minions that have served these masters well. It will be the sovereign who re-assert their primacy. It will be you. One must remember the root of this crisis is not the tyranny of the mob. This is a crisis founded in economic liberties and demand for equality of economic opportunity. What we are witnessing is the sovereign responding to the tyranny of the few. Of those who would be king.
This crisis is far from over. The sovereign have much unfinished business. Stretch your legs of democracy. Now is the time for you to lead and the bureaucracy to follow.
As we have written, Wall Street could very well never see the glory days of the late 1990s to 2007 ever again. Ever. That would be a very good thing for everyone. That includes those working in financial markets.
Government needs to quit trying to save a system that has failed. The system is failing because of its inability to serve everyone in society. We need a new financial system for the betterment of all. This is one of the fundamental causes of today's economic environment. The answers are so obvious it is blinding. But, our government only responds with transformational change when there is tremendous crisis. Primarily because only a tremendous crisis mobilizes the sovereign into action. Just as Wall Street is not the source of society's wealth, politicians are not the source of positive and lasting change in society.
Do not be deterred by those with the microphone attempting to paint the growing public responses to this crisis as that of a mob, that is simply a ruse by those fearful of change. It is a view held by those trying to save a system that is bankrupt. As Thoreau's timeless Civil Disobedience told us, these minions have served the master well.
The mobilization of the sovereign against corruption, cronyism, inequality and the status quo is the fundamental building block of democracy. The demands for change are seeds of democracy taking root again in America. They are winds of transformational change. A sign that democracy is alive and well. It will not be Wall Street or government that leads us out of this environment. Nor will it be the minions that have served these masters well. It will be the sovereign who re-assert their primacy. It will be you. One must remember the root of this crisis is not the tyranny of the mob. This is a crisis founded in economic liberties and demand for equality of economic opportunity. What we are witnessing is the sovereign responding to the tyranny of the few. Of those who would be king.
This crisis is far from over. The sovereign have much unfinished business. Stretch your legs of democracy. Now is the time for you to lead and the bureaucracy to follow.
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